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IMF Launches Trust Fund to Aid Countries in AML, CTF Implementation
By Brian Monroe
printThe International Monetary Fund is launching a donor-supported trust fund to assist countries in implementing anti-money laundering and counter-terrorist financing legislation and programs. The intergovernmental group, which promotes trade and reviews countries' anti-money laundering (AML) programs, said Wednesday that it created the fund because of an increase in demand for assistance from countries that "might have the money, but often don't have the knowhow," said Joseph Myers, assistant general counsel in the legal department at the IMF. The international AML standards set out by the Paris-based Financial Action Task Force "are very difficult, even for rich countries," Myers said, in...
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