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FATF Proposes Revising Recommendations to Include Tax Crimes, Domestic PEPs
By Brian Monroe
printAn intergovernmental group said Wednesday that it was considering asking countries to make tax evasion a predicate crime of money laundering and to issue tougher AML standards on political figures. The recommendations would be two of six broad, potential changes to the anti-money laundering (AML) and counterterrorism financing standards set by the influential Financial Action Task Force (FATF), according to a 17-page proposal published by the organization. The 36-member group said it was accepting comment on the proposals through January 7. The push to make tax crimes a predicate offence of money laundering is overdue, and may be readily adopted...
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