Guidance targets money laundering, terrorist financing

03/10/2010 | JournalofAccountancy.com

The Financial Crimes Enforcement Network and several financial regulatory agencies issued guidance intended to help financial institutions better understand and address money laundering and terrorist financing risks, protect themselves from criminal activity, and assist law enforcement with investigations and prosecutions. The guidance seeks to clarify and consolidate existing regulations for obtaining beneficial ownership information for certain accounts and customer relationships.

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