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Report on Cross-Border Transactions in Middle East Disappoints AML Pros
By Brian Monroe
printA study of cross-border transactions in the Middle East issued by a regional task force disappointed anti-money laundering (AML) professionals who say it offers few strategies for combating the criminal schemes it identifies. In its first typologies report, released May 16, the Middle East and North Africa Financial Action Task Force identified myriad cross-border payment methods available throughout its 17 member countries. The task force, which is modeled on the Financial Action Task Force (FATF) that sets global anti-money laundering policy, said it could offer little on AML strategies because it didn't have a sufficient number of cases to study....
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