Clean sweep needed across the board on money laundering | The National:
"According to estimates by KPMG, more than US$500 billion is laundered worldwide annually by organised criminals. Given the staggering figure, there is a growing political will to combat this disturbing trend. Governments, law enforcement and regulators across the world have increased their scrutiny of anti-money laundering (AML) processes and controls, investing more in forensic practices and taking direct action involving fines or even imprisonment against individuals and firms who fail to comply with minimum standards.
This is in stark contrast to the situation during the financial crisis, when senior management interest in AML compliance dropped down the agenda at board meetings."
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