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Watchdog Groups Ask Congress to Strengthen Anti-Corruption Requirements for Banks
By Brian Monroe
printU.S. lawmakers should require banks to discern the beneficial owners of the companies they provide accounts for, and determine whether the corporations have ties to corruption, anti-graft groups said Tuesday. Representatives from the organizations, speaking before the U.S. House Committee on Financial Services, called on the United States and the Paris-based Financial Action Task Force (FATF) to strengthen laws and recommendations meant to fight financial crimes, including bribery and money laundering. The hearing was attended by roughly a dozen of the committee's 71 members. Global corruption is "not going down" and is actually at its "highest levels ever," said Raymond...
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