The Global Crackdown on Money Laundering

Governments and corporations in the world’s major financial centres have long talked tough on anti-money laundering (AML), but their actions have not always shared the force of their words. A view persists that it has been convenient to welcome foreign money without asking too many prying questions. Recent geopolitical events have brought this awkward discrepancy into the spotlight. Are things now changing? In this article, first published in ICLG - Anti Money Laundering, we look at the approach to AML in the EU, UK, US and Asia Pacific and consider whether proposals for strengthening jurisdictions’ AML armouries go far enough.