The Financial Action Task Force's new president told ACAMS moneylaundering.com bureau chief Koos Couvée that the group plans to revise the standards by which nations assess their exposure to illicit finance.
An international group rejected a proposal to lower the threshold at which countries fall under deeper global scrutiny for not tackling illicit finance, potentially sparing major economies from ending up on a “gray list” of nations with porous defenses against financial crime.
Representatives of Kenya, Namibia, South Africa and the 17 other nations that comprise the Eastern and Southern Africa Anti-Money Laundering Group will gather in Lubango, Angola, on Friday for a weeklong meeting on efforts to clamp down on financial crime in the region.