New money laundering law puts more onus on professions
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Bankers, lawyers, estate agents, accountants and a string of other professions in the European Union will have to keep a closer watch on their customers, under a new EU money laundering and terrorist financing law approved by the European parliament yesterday. The law forces them to establish and verify the identity of their customers, report suspicions of money laundering or terrorist fin- ancing and establish policies to prevent such crimes. Source : ft.com |