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OECD and FATF to Give Greater Weight to Each Other’s Standards: Former Official
By Brian Monroe
printTwo of the world's most influential intergovernmental groups will more heavily weigh each other's anti-money laundering and anti-tax crime standards in future evaluations, a former official said. Going forward, the Centre for Tax Policy and Administration at the Organisation for Economic Co-operation and Development (OECD) will evaluate jurisdictions, in part, based on how they comply with the recommendations of the Financial Action Task Force (FATF), according to Jeffrey Owens, a former director of the tax division who retired in February. The anti-money laundering (AML) and counterterrorism financing standards will be used in the OECD's tax-related peer reviews, said Owens, in...
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