August 2016 JD Supra

Because they are known as “gatekeepers” in the financial industry, Professional Service Providers (PSPs), Bankers, Brokers, Realtors, Casino Managers, Trust Fund Managers, Money Managers, etc., carry a level of responsibility and share financial intelligence according to the Financial Action Task Force (FATF) Recommendation #22. FATF is an independent and inter-governmental entity that develops policies for protection of our global financial system from money laundering (AML), terrorist financing and financing of weapons of mass destruction.  Should Professional Service Providers Assume Greater AML Vigilance Responsibilities