The International Federation of Accountants (IFAC) announced recently that it has released a white paper on anti-money laundering procedures in order to assist its 156 member organisations and 2.4 million accountants.
The paper, according to IFAC, is designed to explore the role of accountants in the ongoing fight against money laundering, to explain professional obligations, and to highlight possible indications of money laundering activity.
These include uncharacteristically large or unusual transactions which are at odds with the client's known legitimate activities, difficulties in determining personal identity, improperly recorded and documented transactions, and transactions passed through intermediaries for no apparent reason.
IFAC President, Aki Fujinuma, believes that the profession has an increasingly important role to play in the international fight against money laundering which, he observed, was once 'the exclusive domain of law enforcement'.
'Now, governments and businesses increasingly look to the profession, not just to aid in their monitoring and detection efforts, but also to establish and strengthen controls and safeguards against money laundering, it perpetrators and their accomplices in organized financial crime,' he explained.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment