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Weekly Roundup: FATF Softens Stance on Charities, Brooklyn Tackles $1 Billion Internet Gambling Ring, and More
printThe Financial Action Task Force (FATF) last week revised its recommendations to omit language describing charities as "particularly vulnerable" to financial crime following complaints by several nonprofit groups, according to Third Sector. The intergovernmental group still recommends that financial institutions adjust the level of due diligence they apply to charities on a case-by-case basis. More New FATF President Juan Manuel Vega-Serrano, the head of Spain's financial intelligence unit (FIU), said that the organization would seek to enhance its standing with the Group of 20, improve cooperation between FIUs and the private sector and develop a "new partnership" with financial technology...
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