April 15th, 2019
Submission Date: 8 April 2019 The draft guidance is comprehensive, and we in particular welcome the focus on beneficial ownership information, as well as the detailed list of risk factors as regards client and transaction risk.
September 25th, 2018
Submission Date: 24 September 2018 The ability to hide and spend suspect funds overseas is a large part of what makes serious corruption and organised crime attractive and possible. In order to steal public money, corrupt individuals need to be able to hide those funds in the international financial system and find somewhere attractive to
August 29th, 2018
Developing countries lose billions of dollars every year due to illicit financial flows or IFFs. One of the big obstacles countries face in curbing IFFs is the access to information, especially from developed countries that happen to be tax havens. Automatic exchange of information allows countries to gauge the magnitude of illicit finance that has crossed
July 27th, 2018
Submission Date: 26 July 2018 The FTC was encouraged to see the adoption of the mandate to curb illicit financial flows last month at the BRICS Tax and Customs meeting. In this regard, we submitted a letter to share some policy recommendations for a unified strategy against illicit financial flows ahead of the 10th BRICS Summit,