Lawyers A Weak Link In AML Enforcement, Report Says

Law360, New York (December 1, 2016, 2:57 PM EST) -- The U.S. has strong measures to stop illicit cash flows, but the lack of accurate data on shell corporations' true owners and the ability of lawyers, real estate agents and other professionals to escape reporting duties present significant gaps, according to an international evaluation released Thursday.

The Financial Action Task Force, an international standards-setting body focused on anti-money laundering and anti-terror financing issues, said that the U.S. has made significant progress since the last, 2006 task force review of the country's efforts to halt illicit money...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.