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Global AML Summit Shows Shifting Geopolitical Landscape

Koos Couvée
London Bureau Chief

The Financial Action Task Force exited three days of meetings Friday with several decisions that appear to address criticism that opaque, behind-the-scenes processes and the dominance of wealthy Western nations have undermined the group's mission and message. FATF's latest tri-annual summit in Paris was not only the first under the presidency of Elisa de Anda Madrazo of Mexico, but also the first to be attended by two non-member jurisdictions, the Cayman Islands and Senegal, as part of the intergovernmental group's plan to "increase ... inclusivity and broaden the diversity of perspectives." The plan, which gives under-represented jurisdictions rotating, one-year seats...

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