SWITZERLAND NO LONGER A DIRTY MONEY SINK, BUT MORE AML/CFT REFORMS AR REQUIRED, SAYS FATF
December 1st, 2016
SWITZERLAND may have lost its reputation as a haven for dirty money deposited in numbered accounts with no questions asked, but global anti-money laundering (AML) body the Financial Action Task Force (FATF) wants more vigilance and proactivity in Swiss AML policies and actions.
In a report released today (Dec 7), FATF concluded that since it last assessed Switzerland in 2005, the country has “strengthened its AML/CFT [combating the financing of terrorism] regime.” It concluded that a government determined to protect Switzerland’s status as an international ...
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