AML has shortcomings in offshore centres, says IMF

Anti-money laundering

In a December 2003 report on the future of the OFC assessment programme, the IMF says: "In some cases, strengthened AML measures require improved regulation and better supervision, including more staff and systems for effective compliance monitoring."

"Most of the 13 jurisdictions assessed using the October 2002 methodology had a developed AML/CFT framework, although shortcomings in implementation and in laws addressing the financing of terrorism were noted," says the IMF.

The assessment calls for

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