ICELAND TIGHTENS MONEY LAUNDERING RULES AS ITS FINANCIAL SECTOR COLLAPSES
January 1st, 2009
BY ALAN OSBORN
THE COLLAPSE of the over-extended Icelandic banking system last October - the first and so far the most calamitous outcome of the global credit crunch - led to rowdy street protests in Reykjavik, the resignation of the prime minister Geir Haarde and his cabinet in January (26-1) and a pledge of new elections in May. Remarkably though, the crisis does not seem to have deflected this small north Atlantic island country from bringing in a slew of significant anti-money laundering (AML) reforms over the past year or so. This follows a report drawn up ...
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