Posted on July 22, 2011
Some of the critical issues addressed included how to develop a risk-based approach to money laundering and terrorist financing threats, how to manage the client risk of individuals with political and senior government responsibilities and the independent audit or inspection of AML/CTF compliance.
Another message was that the USA, the UK and the EU intended to increase their efforts to clamp down on any form of tax fraud and the disclosure by financial institutions of citizens of these countries holding foreign assets.
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