The Daily Star - Business Articles - Torbey: Lebanese banks fully complying with anti-money laundering laws

The Daily Star - Business Articles - Torbey: Lebanese banks fully complying with anti-money laundering laws This is an interesting article for financial centers including Luxembourg. Slowly but surely a worldwide standard is emerging under the action of the Financial Action Task Force aka FATF/GAFI. The issue of implementing the FATF standards (40 + 9 recommendations), as they are presently worldwide to a large extent, makes way to another issue: AML policies tend now to get evaluated on results, not only national implementations of the standard rules. And regulators obviously will not promise no further action, based on implementation alone. There is actually a push to the contrary, mainly in the US, to a new kind of scrutiny: the emerging concept of the judicial and regulatory haven. That is certainly results based.