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FIUs Should Better Communicate on Counterfeiting: Moneyval
printFinancial intelligence units should better share data on counterfeiting with their counterparts in countries known to export a large number of fake goods, according to an intergovernmental report issued Tuesday. Counterfeiting goods has become easier as technology has advanced in recent years, with estimates of what international businesses lose to criminals ranging from $200 billion to $600 billion annually, according to regional anti-money laundering watchdog Moneyval. Counterfeiters launder those profits through financial institutions, the organization said. To better check the problem, financial intelligence units should share data with law enforcement task forces assigned to fight counterfeiting, as well as with...
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