This month is the one year anniversary of the Panama Papers, a leak of 11 million documents from the Mossack Fonseca law firm that showed how easy it is for corrupt public officials, money launderers, drug traffickers and other criminals to hide behind anonymous companies and access the global financial system.
Entries in FATF (6)
You arrive in a new city on a rainy day and check into your top floor hotel room, only to find the roof is leaking.
The U.S. Treasury Department's Financial Crimes Enforcement Network sets risk-based compliance obligations of U.S. financial institutions. FinCEN directs counter-measures against the countries with the highest risk and enhanced due diligence against others.
Japan has not done enough to combat money laundering, an international watchdog said on Friday, urging the government to adopt measures such as legislation that criminalizes terrorist financing.
Afghan president Hamid Karzai said Wednesday that he signed a key package of legislation aimed at combating financial crime, making it less likely the country will be added to the Financial Action Task Force's blacklist this week.