Some banks have yet to comply with new rules on international automated clearing house transactions nearly five months after a regulatory deadline for implementation has passed, according to consultants.
Internet businesses that allow individuals to move money rapidly and with relative anonymity are likely to be exploited by traditional and trade-based money launderers, according to a report issued by the Paris-based Financial Action Task Force.
Concerned that there are too many unknown risks associated with electronic payments, the Federal Reserve Bank in Atlanta will launch the Electronic Payment Risk Forum to examine the payment products and systems.
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