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An international group that promulgates global standards against illicit finance plans to evaluate nations with relatively higher exposures to money laundering, terrorist financing and other financial crimes first in an upcoming round of assessments. Other reforms unveiled by the Financial Action Task Force, or FATF, on Tuesday will see the current 10-year cycle of assessments shortened to six years; an updated methodology used to rate each nation's laws, regulations and enforcement against financial crime; and tougher follow-up procedures imposed on countries with porous defenses. "The shorter cycle, greater scrutiny and strong follow-up mechanisms will ensure that governments stay focused on...