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- Jersey has simply been acknowledged as a worldwide heart for accountable finance, demonstrating its dedication to combating cash laundering and terrorist financing.
- The island’s achievement has far-reaching implications for the worldwide monetary system, together with for economies in Africa combating cash laundering.
- African nations can take classes on methods to set up strong authorized and regulatory frameworks for AML from Jersey to assist plug vulnerabilities of their monetary techniques.
The scourge of cash laundering continues to be a critical ache level for authorities throughout Africa, with many nations struggling to battle illicit flows albeit with persistent dangers.
At the moment, South Africa, the continent’s most superior financial system is below shut watch in line with the Monetary Motion Process Power (FATF) to institute robust measures to examine cash laundering avenues by October 2024.
In West Africa, persistent challenges of human trafficking, poaching, and wildlife trafficking, and runaway corruption proceed to weaken the monetary system of …
The publish Classes for Africa from Jersey on preventing cash laundering appeared first on The Alternate.
