Countries around the world have introduced regulations aimed at ensuring that financial services organisations cannot, simply by hopping from territory to territory, facilitate money laundering or terrorist financing. Recognising that legislation is only as good as its weakest point, AML regulation is becoming significantly more stringent in nature and outlook.
AML legislation is being updated far more regularly as new threats and risks emerge and are assessed. In comparison, there was a ten-year gap between the first and second AML directives.
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