FATF RISK-BASED APPROACH OFFERS DETAILED ADVICE FOR ACCOUNTANTS
May 1st, 2019
Businesses and their advisers, including accountants, are under increasing pressure to report money laundering as the problem continues to grow: according to the United Nations, between 2% and 5% of global GDP (US$800bn to US$2trillion) is laundered annually. In response, international organisations and national governments have created rules and guidance on fighting the problem.
Among these is the Financial Action Task Force (FATF), the Paris-based global body for anti-money laundering (AML) and combating the financing of terrorism (CFT). Its 40 recommendations ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.