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Money Laundering Tip: If They Don’t Serve the Time, You Haven’t Done the Crime
June 21st, 2012
This is the current message that the EU’s current anti-money laundering rules send to those in a position to launder the proceeds of tax evasion. It is a crime to launder the proceeds of tax evasion if the tax evader you help, gets caught and goes to prison for more than a year, 11months and its fine. For those considering whether or not tax evasion is a serious crime, it is worth pointing out that a Christian Aid study found that even with a very conservative estimate the money lost by developing countries to tax evasion by multinational companies...
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OECD: Protecting the International Financial System: Ministers to Renew the FATF Mandate
April 13th, 2012
Ministers from Financial Action Task Force (FATF) member countries will meet in Washington DC on 20 April to extend the FATF mandate for another 8 years, continuing to safeguard the integrity of the international financial system. The FATF Ministerial Meeting will take place in the margins of the 2012 IMF / World Bank Spring Meetings. It follows on the recent publication of the revised FATF 40 Recommendations, the international standard for combating money laundering and the financing of terrorism and weapons of mass destruction.
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