By PAUL O’DONOGHUE, Senior Correspondent DAVID Lewis, former executive secretary at FATF, has claimed there is “little evidence” that technical compliance with the agency’s recommendations leads to effective AML outcomes. Mr Lewis highlighted that jurisdictions rated largely or fully compliant with all 40 FATF (Financial Action Task Force) Recommendations included the likes of the Cayman…
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NEWS: Former senior FATF figure claims ‘little evidence’ its recommendations effectively prevent money laundering
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DEBATE: David Lewis told AML Intelligence he agreed with Ilze Znotina’s comments in response to his views. He said his point was not to criticise smaller countries - rather, it was that: “There is little evidence in FATF evaluations to show a strong correlation between technical compliance and effectiveness."