PAPUA NEW GUINEA DETERMINED TO STAY OFF THE GREY LIST
April 1st, 2018
PAPUA New Guinea (PNG) left the Financial Action Task Force’s (FATF) grey list in 2016 and is taking steps to stay that way. The Pacific island state has established new anti-money laundering/combating the financing of terrorism legislation and associated controls. Opportunities for money laundering in this culturally diverse country are limited given 85% of its 8.5 million people are subsistence farmers. There is no recent history of terrorism, but the country faces outbreaks of tribal fighting and a high level of serious crime including financial crime. ...
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