ICELAND NEEDS TO BUILD A MORE EFFECTIVE AML/CFT SYSTEM, SAYS FATF
March 1st, 2018
THE FINANCIAL Action Task Force (FATF) has told Iceland it must better coordinate its domestic authorities charged with anti-money laundering and combating the financing of terrorism (AML/CFT), strengthening its efforts to stem dirty money flows.
In a comprehensive review, the global AML body noted that while Icelandic financial regulators had been effective between 2008 and 2015 in cleaning up complex fraud and accounting cases surrounding its offshore sector’s 2008 banking collapse, this work “did not extend to anti-money laundering and counter terrorist ...
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