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Beneficial Ownership Will Be ‘Central’ Issue in Upcoming FATF Evaluations: U.S. Official
By Brian Monroe
printCompliance with beneficial ownership standards will be one of the top priorities for Financial Action Task Force examiners during the group's next round of jurisdictional reviews, a U.S. official said Tuesday. Examiners with the Paris-based group, known as FATF, found "universally poor compliance" among members during its third round of mutual evaluations, said Chip Poncy, director of the U.S. Treasury Department's Office of Strategic Policy for Terrorist Financing, during a webinar hosted by the Association of Certified Anti-Money Laundering Specialists. As a result, rating how jurisdictions implement standards on gathering beneficial data will be "central" for FATF's fourth round of...
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