You arrive in a new city on a rainy day and check into your top floor hotel room, only to find the roof is leaking.
Entries in Financial Action Task Force (7)
This month, Transparency International published its survey of the UK’s AML enforcement and confiscation systems, particularly in relation to Financial Action Task Force (FATF) defined “grand corruption” (bribe-taking or kickbacks, extortion, self-dealing, conflicts of interest, and embezzlement from the national treasuries).
Transparency International's open letter to the G20 leaders requiring transparency of ownership ought really to be pushing at an open door. Particularly so, in the light of the Financial Action Task Force's Recommendations 24 and 25 (published in 2003 and updated in 2012) which require member countries to ensure that accessible information can be obtained and exchanged on beneficial ownership of legal persons and trusts/arrangements.
Japan has not done enough to combat money laundering, an international watchdog said on Friday, urging the government to adopt measures such as legislation that criminalizes terrorist financing.
Afghan president Hamid Karzai said Wednesday that he signed a key package of legislation aimed at combating financial crime, making it less likely the country will be added to the Financial Action Task Force's blacklist this week.
The Financial Action Task Force (FATF) identified jurisdictions that have strategic deficiencies in their anti-money laundering and financing of terrorism controls in a public statement last Friday.