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CHAPTER 3 Money laundering and information sharing

Criminal Finances Act 2017

Page 21 CHAPTER 3 Money laundering and information sharing Introduction 3.1 As financial transactions and investment opportunities become more sophisticated, so too do money laundering schemes. National boundaries are ignored and financial institutions and professional advisers from around the world may be drawn in. For the Financial Action Task Force, the peak inter-governmental body charged with setting policies to combat money laundering and terrorist financing, information sharing is critical. Its 2017 Guidance on Private Sector Information Sharing considers fast and comprehensive information sharing from a wide variety of sources to be necessary at the national level and also globally, both within corporate groups and between regulated persons not part of the same structure.

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