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FATF May Fine Tune 20 Percent of its Recommendations, Says Organization Head
By Brian Monroe
printA global watchdog group is rethinking how it evaluates 11 of its 49 recommendations on combating financial crime, including whether it should consider tax evasion as a predicate offense to money laundering. The Paris-based Financial Action Task Force (FATF) will look at the effectiveness of legislative proposals on customer due diligence, law enforcement powers, beneficial ownership disclosure, international cooperation and tax crimes, the organization's president, Paul Vlaanderen, said in a speech in Brisbane, Australia on Tuesday. While it's likely there will be more emphasis on the five areas mentioned in the speech, discussions on whether and how the recommendations may...
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