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FATF Wants Nations, Banks to Assess Exposure to WMD Finances

By Daniel Bethencourt

An intergovernmental group on Friday formally tasked nations with assessing their exposure to the finances behind weapons of mass destruction, and voted to keep Pakistan under enhanced monitoring after the country stopped short of fully reforming its rules against financial crime. Those decisions, which the Financial Action Task Force, or FATF, disclosed in four separate documents, marked the end of the group's latest three-day plenary, which was held virtually and chaired by its new president, Marcus Pleyer, deputy director general of the German Finance Ministry. "Governments and banks must do more than take a checklist approach to sanctions screening," Pleyer...

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