Financial Transparency Coalition

The Financial Action Task Force (FATF) and the Caribbean Financial Action Task Force (CFATF) have jointly conducted an assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT) standards in Aruba.

Task Force member Global Witness has released the following statement lauding the G20's action on AML standards at last week's summit in Pittsburgh:

G20 takes welcome step to stop banks fuelling corruption

Summit communiqué calls for stronger anti-money laundering standards to help curb illicit flows of looted state funds from developing countries

The G20 has urged an international watchdog on anti-money laundering laws to prioritise the fight against corrupt funds, a move warmly welcomed by anti-corruption group Global Witness today.

The Guardian--Jersey's compliance with international financial regulation and supervision rules is rated ahead of the UK, according to a detailed study by the International Monetary Fund (IMF).

A few days ago we blogged on an article in Singapore's Straits Times which crowed about how the island-state is benefiting from the crackdown on tax evasion by governments in North America and Europe. Our blog triggered an exchange with a practitioner who disputes our assessment that Singapore provides:

"strict banking secrecy laws, no register of trusts and foundations, neither company accounts nor company ownership details are placed on public record. On the regulatory side, the island-state is not rated by the...