Bar Associations Challenge Anti-Money Laundering Laws

Nearly four years after the Financial Action Task Force (FATF) issued its revised Forty Recommendations on Anti-Money Laundering, incorporation customer due diligence, suspicious activity reporting, and anti-tipping off requirements, bar associations continue to actively challenge the Recommendations throughout the world. As a result of extensive litigation, a number of governments have decided to exempt attorneys from suspicious activity reporting and no-tipping off requirements, while others are considering similar steps … [more]