FATF Gray Lists Croatia, Urges Tougher Scrutiny of VASPs

Featured in ACAMS Moneylaundering.com



Tom Keatinge, director of the Centre for Financial Crime and Security Studies at the Royal United Services Institute in London, told ACAMS moneylaundering.com that the group’s 40 recommendations for building a legal and regulatory framework against illicit finance have had “unintended consequences.” “For too long, FATF has ignored calling out countries for this abuse,” Keatinge said. “Guidance is not enough—there needs to be a genuine sanction applied to those governments that misuse the standards.”