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17/02/2012
Standards Announced For Money Laundering
A new set of standards aimed at combating money laundering, terrorist financing and the proliferation of "weapons of mass destruction" has been announced.
The Financial Action Task Force (FATF), said it had agreed a new set of standards and was highlighting the need for member countries to promote their implementation.
The FATF said its recommendations have been revised to provide governments with stronger tools to take action against financial crime and protect the integrity of the global financial system.
The recommendations were strengthened specifically in areas which are "high risk", including dealing with new threats, improving transparency and being tougher on corruption.
The Commercial Secretary to the Treasury, Lord Sassoon said:
“The UK welcomes the revised FATF standards. The integrity of the global financial system will now be better protected through strengthened measures to combat the global threat of money laundering, terrorist financing and of the proliferation of weapons of mass destruction.
"We are fully committed to implementing these new global standards and will work with international partners in FATF to encourage full and consistent adoption by all countries.”
(DW)
The Financial Action Task Force (FATF), said it had agreed a new set of standards and was highlighting the need for member countries to promote their implementation.
The FATF said its recommendations have been revised to provide governments with stronger tools to take action against financial crime and protect the integrity of the global financial system.
The recommendations were strengthened specifically in areas which are "high risk", including dealing with new threats, improving transparency and being tougher on corruption.
The Commercial Secretary to the Treasury, Lord Sassoon said:
“The UK welcomes the revised FATF standards. The integrity of the global financial system will now be better protected through strengthened measures to combat the global threat of money laundering, terrorist financing and of the proliferation of weapons of mass destruction.
"We are fully committed to implementing these new global standards and will work with international partners in FATF to encourage full and consistent adoption by all countries.”
(DW)
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Northern Ireland WeatherToday:A fine dry days weather with sunshine quite widespread, particularly from mid-morning. Temperatures best across southern districts. North to northwesy breezes occasionally freshening around the coasts. Maximum temperature 15 °C.Tonight:Most dry with good clear spells bringing a rural frost in the south for some. Cloudier around northern coasts where the odd light shower may develop. Northerly breezes persisting. Minimum temperature 0 °C.
