The Financial Action Task Force concluded in a mutual evaluation report that many Icelandic lenders and nonbank firms show a “poor understanding” of their money-laundering or terrorist-financing risks. More U.S. Comptroller of the Currency Joseph Otting said three federal banking regulators will send the Treasury Department proposals to allow banks more flexibility in complying with anti-money laundering rules, The Wall Street Journal reported. More U.S. lawmakers advanced bipartisan legislation that would require the State Department to factor money laundering into its annual rating of how effectively nations combat human trafficking, the Associated Press reported. More Federal prosecutors charged the founders...
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