Diverse compliance expectations and the potential for conflicts of interest among supervisory organizations could exacerbate the United Kingdom's vulnerability to money laundering and terrorist financing, British officials believe. The conclusion comes as part of the nation's first-ever assessment of its efforts to clamp down on the crimes, published last week by HM Treasury. British officials drafted the report in response to the Financial Action Task Force's request that member-states analyze their anti-money laundering (AML) and counterterrorist financing regimes ahead of the group's latest round of mutual evaluations. The report, which highlights vulnerabilities linked to emerging payment methods, gambling and law...
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