News

The new president of an influential intergovernmental organization that sets anti-money laundering standards will focus his tenure in part on recommending changes to compliance regulations to better service the unbanked. Luis Urutia Corral, the former head of Mexico's Unidad de Inteligencia Financiera, started his 1-year term as head of the Paris-based Financial Action Task Force (FATF) on July 1. Corral replaced Dutch delegate Paul Vlaanderen, who previously led the international tax policy wing at the Dutch Ministry of Finance. In upcoming policy goals report, Corral will "add emphasis" to the organization's past efforts to expand banking services to the poorer...