Critics of an influential organization that sets international standards on anti-money laundering and counterterrorism financing compliance are questioning whether it evaluates its members fairly.
Caribbean countries must do more to implement global anti-money laundering standards and cooperate with other nations to combat financial crime, the head of an intergovernmental anti-money laundering watchdog said Thursday in a speech that also targeted its Caribbean affiliate.
Bank of America has cut its ties to North Korea after the nation topped an intergovernmental blacklist of countries with poor anti-money laundering regimes, according to a bank compliance official.
Omissions in an intergovernmental group's lists of countries with lax anti-money laundering and counter terrorist financing controls may undermine the organization's effectiveness in fighting the crimes, say compliance consultants.
An influential financial crime watchdog group released Thursday a much-anticipated list of nearly 30 countries with anti-money laundering and counter terrorism financing deficiencies.
A blacklist expected to be published next week by an intergovernmental watchdog group has compliance officers wondering which jurisdictions will be named and what sort of changes it will bring.
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