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Countries Should Issue Risk Assessments, Share AML Vocabulary: FATF
printToo few countries attempt to gauge their risks of money laundering and terrorist financing, an intergovernmental organization that issues guidance on how to combat the crimes said Monday. The call for greater consideration by nations of their vulnerabilities to criminal and terrorist money movements comes as part of a report issued by the Paris-based Financial Action Task Force (FATF). The report outlines resources governments might use to best regulate and protect financial institutions from criminal risk. Without completing a threat assessment, government regulators "cannot realistically" determine whether banks and other financial institutions are effectively preventing criminal abuse, the report said....
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