Saturday, February 25, 2012

Fighting money laundering a constant battle for banks - Business - MiamiHerald.com

Fighting money laundering a constant battle for banks - Business - MiamiHerald.com

It is no longer the story of the drug dealer only, laundering cash through a laundry business. Proceeds from any crime fit the description, and any criminal activity involving money transfers count as money laundering. The Financial Action Task Force od OECD ( FATF) has promoted an international standard through 40 rules for combating money laundering and terrorist financing. The Miami FIBA conference acts like a weather forecast for an ever broader interpretation of and fight against illicit funds. 1200 specialists attended the conference.

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