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  1. hsbc

    Deficiencies in financial oversight enable money laundering

    Tom Blickman
    15 May 2013
    Other news

    In July 1989, the leaders of the economic powers assembled at the G7 Paris summit decided to establish a Financial Action Task Force (FATF) to counter money laundering as an effective strategy against drug trafficking by criminal ‘cartels’. However, since the inception of the international anti-money laundering (AML) regime there is a growing awareness that the regime is not working as well as intended.