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Please note that all future updates will be recorded in
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1 April 2014  -  IMF Report: Cyprus: Third Review Under the Extended Arrangement Under the
Extended Fund Facility and Request for Modification of Performance Criteria  -  includes information
on anti-money laundering issues

Read Extract and access Report

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31 March 2014  -  OECD:  Lack of enforcement jeopardises South Africa’s fight against foreign
bribery

Read More

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27 March 2014  -  OFAC  -  Publication of Iran General License G

Read Licence

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26 March 2014  -  FATF AML/CFT and data protection experts' seminar

Read Briefing

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26 March 2014  -  Please note that we have re-formatted our website to enhance your viewing
experience of the Country Reports.

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21 March 2014  -  The US President has issued a new Executive Order, “Blocking Property of
Additional Persons Contributing to the Situation in
Ukraine” expanding the scope of the national
emergency declared in Executive Order 13660 of March 6, 2014, and expanded by Executive Order
13661 of March 16, 2014

Read Order

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21 March 2014  -  The EU has imposed sanctions on another 12 individuals over Russia's
annexation of Crimea from
Ukraine.

Read More

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18 March 2014  -  US President signed an Executive Order Blocking Property of Additional Persons
Contributing to the Situation In
Ukraine. This new authority expands upon E.O. 13660 by providing
the ability to target officials of the Government of the
Russian Federation, any individuals or entities
that operate in the arms or related materiel sector in the Russian Federation, and any individual or
entity that is owned or controlled by, or provides material or other support to any senior official of
the Government of the Russian Federation or any person designated pursuant to this order.

Read More

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18 March 2014  -  EU restrictive measures against actions threatening Ukraine's territorial integrity -
including names of 21
Ukraine and Russian persons

Read More

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14 March 2014  -   The Wolfsberg Group releases revised Anti-Money Laundering Principles for
Correspondent Banking

Read More

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12 March 2014  -  Council Regulation (EU) No 224/2014 of 10 March 2014 concerning restrictive
measures in view of the situation in the Central African Republic

Read Regulation

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11 March 2014  -  Global Financial Integrity: US$68.9 Billion Flowed Illegally into or out of Emerging
EU Economies in 2011/GFI Urges EU Parliament Legislators to Follow UK’s Lead, Ban Anonymous
Shell Companies/Anonymous Shell Companies are a Major Conduit of Illegal Funds; Public Registries
of Beneficial Ownership are the “Gold Standard” in Curbing Phantom Firm Abuse

Read More

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7 March 2014  -  Council Regulation (EU) No 208/2014 of 5 March 2014 concerning restrictive
measures directed against certain persons, entities and bodies in view of the situation in
Ukraine

Read More

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7 March 2014  -  OFAC: Issuance of Ukraine-related Executive Order

Read More

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6 March 2014  -  PWC publish 2014 Global Economic Crime Survey

Read More

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3 March 2014  -  Ukraine: FinCEN Issues Advisory to Financial Institutions on Recent Events related
to the Departure of Victor Yanukovych and Other Ukrainian Officials

Read More

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28 February 2014  -  Transparency International:  Overview of corruption and anti-corruption in
Turkey

Read More

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24 February 2014  -  UN extends Sudan sanctions

Read Resolution

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24 February 2014  -  UN considers sanctions on Yemen

Read Draft Resolution

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21 February 2014  -  EU and Canada impose Ukraine sanctions after deadly Kiev clashes (further
info to come)

Read More

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21 February 2014  -  Panama: Latest Mutual Evaluation of FATF Recommendations conducted by IMF

View Recommendation Ratings and key findings

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19 February 2014  -  OECD delivers new single global standard on automatic exchange of
information

Read More

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16 February 2014  -  Outcomes of the FATF Plenary, 12-14 February 2014

FATF call on its members and other jurisdictions to apply counter-measures to protect the
international financial system from the on-going and substantial money laundering and terrorist
financing (ML/TF) risks emanating from the jurisdictions of: -

Iran and Democratic People's Republic of Korea (DPRK)

The following jurisdictions have been identified as not having made sufficient progress in addressing
deficiencies or have not committed to an action plan developed with the FATF to address the
deficiencies. FATF calls on its members to consider the risks arising from the deficiencies associated
with: -

Algeria  Ecuador, Ethiopia, Indonesia,   Myanmar,  Pakistan,  Syria,   Turkey,  and   Yemen

Kenya and Tanzania are now identified in the FATF document, "Improving Global AML/CFT
Compliance: On-going Process" due to their progress in substantially addressing their action plan
agreed upon with the FATF

If the following jurisdictions do not take sufficient action to implement significant components of
their action plans by June 2014, then the FATF will identify these jurisdictions as being out of
compliance with their agreed action plans and will take the additional step of calling upon its
members to consider the risks arising from the deficiencies associated with these jurisdictions. The
jurisdictions are: -

Afghanistan   Cambodia


FATF identifies a number of jurisdictions which have strategic AML/CFT deficiencies for which they
have developed an action plan with the FATF. While the situations differ among each jurisdiction,
each jurisdiction has provided a written high-level political commitment to address the identified
deficiencies. The jurisdictions are: -

Afghanistan, Albania,  Angola,  Argentina, Cambodia,  Cuba,  Iraq  Kenya  Kuwait,  Kyrgyzstan,  
Laos  Mongolia, Namibia,  Nepal,  Nicaragua,  Papua New Guinea   Sudan,  Tajikistan, Tanzania,  
Uganda and  Zimbabwe


Antigua and Barbuda,   Bangladesh and  Vietnam and  are no longer subject to FATF’s monitoring
process under its on-going global AML/CFT compliance process


Other Matters

Approving and publishing follow-up reports to the mutual evaluations of Aruba,  Austria,  Canada,  
Luxembourg,  Mexico (Report not yet published) and the Netherlands.

Reviewing the voluntary tax compliance programmes in several jurisdictions.

Adopting and publishing universal procedures for assessments conducted by assessment bodies.

Continuing to develop guidance on effective implementation of beneficial ownership requirements.

Exploring common issues between AML/CFT and data protection experts.

Conducting further research on the AML/CFT implications of virtual currency.

Read More

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14 February 2014  -  OECD delivers new single global standard on automatic exchange of
information

Read More

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14 February 2014  -  EU Commission unveils first EU Anti-Corruption Report

Read more and access report

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13 February 2014  -  Belize enacts nine pieces of Legislation, in response to the CFATF Public
Statement

Read More

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12 February 2014  -  IMF Report: El Salvador: Financial System Stability Assessment  -  includes
information on anti-money laundering issues

Read Extract and access Report

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11 February 2014  -  KPMG: Global Anti-Money Laundering Survey 2014

Read Survey

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10 February 2014  -  We have updated all of our Country pages so that you can now view enhanced
due diligence reports for all Countries. We would appreciate any feedback that you may have on the
new pages so please  
Contact us  and let us have your thoughts or any ideas for information that
we do not currently provide but you may need.

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5 February  2014  -  US State Department: Keynote Address: 2014 Gulf of Aden Regional Counter-
terrorism Forum

Read More

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3 February 2014  -  FATF Report: Money laundering and terrorist financing through trade in diamonds

Read More and access Report

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1 February 2014  -  FinCEN Publishes Two Rulings on Virtual Currency Miners and Investors

Read More

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29 January 2014  -  IMF Report:  Republic of Mozambique: First Review Under the Policy Support
Instrument and Request for Modification of Assessment Criteria  -  includes information on AML/CFT
issues

Read Extract and access full report

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27 January 2014  -  Leaked Records Reveal Offshore Holdings of China’s Elite. Nearly 22,000
offshore clients with addresses in mainland China and Hong Kong appear in the files obtained by
the International Consortium of Investigative Journalists.

Read More

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24 January 2014  -  Singapore issues its inaugural national risk assessment (NRA) report on money
laundering and terrorist financing risks in the country

Read Key Findings and access Report

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22 January 2014  -  The EU implemented Council Regulation (EU) No 45/2014 of 20 January 2014
amending Regulation (EU) No 204/2011 concerning restrictive measures in view of the situation in
Libya

Read Regulation

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20 January 2014  -  We now offer enhanced due diligence reports for all Countries

Read More

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20 January 2014  -  On January 12, 2014, the P5+1 (the United States, United Kingdom, Germany,
France, Russia, and China, coordinated by EU High Representative Catherine Ashton) and Iran
arrived at technical understandings for the Joint Plan of Action (JPOA), which will be implemented
beginning on January 20, 2014. The following documents are key components of the implementation
of the JPOA.

Read More

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17 January 2014  -  Austrac: Typologies and case studies report 2013

Read Report

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15 January 2014  -  The Kyrgyz Republic: Fifth Review Under the Three-Year Arrangement Under the
Extended Credit Facility, and Request for Modification of Performance Criteria  -  includes information
on AML/CFT issues

Read Extract and access Report

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14 January 2014  -  UNODC Report:  Business, Corruption and Crime in Serbia

Read Key Findings and access full Report

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10 January 2014  -  IMF Report:  Pakistan: Staff Report for the First Review Under the Extended
Arrangement Under the Extended Fund Facility  -  confirms that tax crimes will be listed as predicate
crimes to money laundering in the Anti-Money Laundering Act

Read Extract and access Report

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9 January 2014  -  UNODC chief briefs Security Council on drug and crime vulnerability in West Africa,
Sahel

Read More

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7 January 2014  -  IMF Report:  Democratic Republic of São Tomé and Príncipe: 2013 Article IV
Consultation and Second Review Under the Extended Credit Facility Arrangement  -  includes
information on anti-money laundering issues

Read More

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3 January 2014  -  Transparency International demands repeal of legal changes granting immunity
to Romanian politicians

Read More

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2 January 2014  -  OECD: Ireland must urgently apply more resources to enforce Anti-Bribery
Convention  

Read More

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29 December 2013  -  IMF Report  -  Uganda: First Review Under The Policy Support Instrument  -
includes information on AML and corruption issues

Read Extract and access Report

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28 December 2013  -  Transparency International Report: New business principles for countering
bribery

Read Report

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23 December 2013  -  Measuring OECD Responses to Illicit Financial Flows from Developing Countries

Read Report (pdf file)

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19 December 2013  -  HM Treasury (United Kingdom): Terrorist Asset -  Freezing etc. Act 2010,
Independent Reviewer’s Annual Report

Read Report

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18 December 2013  -  EU Council Regulation (EU) No 1332/2013 amending Regulation (EU) No
36/2012 concerning restrictive measures in view of the situation in
Syria allowing competent
authorities to authorise transfers of funds or economic resources where the transfer is related to a
payment due in connection with a specific trade contract for medical supplies, food, shelter,
sanitation or hygiene for civilian use provided that the transfer is by or through the Commercial
Bank of Syria  

Read Regulation (pdf file)

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16 December 2013  -  IMF Report: Indonesia: Staff Report for the 2013 Article IV Consultation
includes information on Money Laundering and Corruption issues

Read Extract and access Report

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12 December 2013  -  IMF Report: Papua New Guinea: Staff Report for the 2013 Article IV
Consultation - includes information on Money Laundering and Corruption issues

Read Extract and access Report

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10 December 2013  -  FATF:  Commitment to improve AML/CFT in the Middle East and North Africa
region

Read More

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8 December 2013  - Transparency International Corruption Perceptions Index ratings for 2013
updated in Country Reports

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6 December 2013  -  FATF Report:  The role of Hawala and other similar service providers in money
laundering and terrorist financing

Read More and Access Report

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4 December 2013  -  Transparency International release Corruption Perceptions Index 2013  -  More
than two thirds of the 177 countries in the 2013 index score below 50, on a scale from 0 (perceived
to be highly corrupt) to 100 (perceived to be very clean). Denmark and New Zealand tie for first
place with scores of 91. Afghanistan, North Korea and Somalia this year make up the worst
performers, scoring just 8 points each

View Index

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2 December 2013  -  Anti-Corruption Ethics and Compliance Handbook for Business

Read More and access Handbook

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30 November 2013  -  UNODC  -  A strategy for curbing corruption in the organization of major public
events

Read More

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27 November 2013  - IMF Report:  Sierra Leone: 2013 Article IV Consultation and Request for a
Three-Year Arrangement Under the Extended Credit Facility  -  includes information on Money
Laundering issues

Read Extract and access Report

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26 November 2013  -  Publication of new compliance ratings for 50 countries and jurisdictions on
practical implementation of the OECD Global Forum’s information exchange standard.

Access report (pdf file)

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25 November 2013  -  FATF: Successful reform of the Caribbean Financial Action Task Force

Read More

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24 November 2013  -  CFATF decides to call for counter measures against Belize and Guyana

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21 November 2013  -   Belarus:  EU Council implements Regulation (EU) No 1054/2013  -  the Council
has decided that restrictive measures should be extended until 31 October 2014

Read Regulation (pdf file)

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20 November 2013  -  FATF Recommendations support United Nations instruments relating to the
fight against the financing of the proliferation of weapons of mass destruction

Read More

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19 November 2013  -  Global Forum on Transparency and Exchange of Information for Tax Purposes
Peer Review "Phase Two" report on
Bermuda now available

Read Report

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18 November 2013  -  OECD  -  Tax Crime in the Global Fisheries Sector

Read More

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14 November 2013  -  FATF Report:  Terrorist Financing in West Africa

Read More

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12 November 2013  -  New UNODC survey highlights corruption as one of the major obstacles to
doing business in the western Balkans

Read More

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10 November 2013  -  OECD Report:  Effective Inter-Agency Co-Operation in Fighting Tax Crimes and
Other Financial Crimes

Access Report

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7 November 2013  -  IMF Report: - Russian Federation 2013 Article IV Consultation -includes
information on money laundering issues relating to Russia's financial relationship with
Cyprus and
exposure after bank restructuring in Cyprus

Read Extract and access full Report

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5 November 2013  -  OECD Report:  -  Azerbaijan - Bribery in international business

Read More and access Report

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4 November 2013  -  OECD Report:  Georgia - Bribery in international business:

Read More and access Report

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1 November 2013  -  Transparency International  - East African Bribery Index 2013

Read More

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30 October 2013  -  New Zealand not immune from foreign bribery, says OECD

Read More

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27 October 2013  -  Belgium should address “flagrant” lack of resources for fighting foreign bribery,
says OECD  

Read More

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24 October 2013  -  Further outcomes of the FATF Plenary, 16 - 18 October 2013  -  Reviewing the
voluntary tax compliance programmes in Argentina and Belgium

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* 22 October 2013  -  Russia removed from the regular Mutual Evaluation follow-up process

Read More

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* 22 October 2013  -  New Zealand removed from the regular Mutual Evaluation follow-up process

Read More

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22 October 2013  -  FATF release Best Practices Paper: The Use of the FATF Recommendations to
Combat Corruptions

Read more and access Paper

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*  21 October 2013  -  Outcomes of the FATF Plenary, 16 - 18 October 2013

FATF call on its members and other jurisdictions to apply counter-measures to protect the
international financial system from the on-going and substantial money laundering and terrorist
financing (ML/TF) risks emanating from the jurisdictions of: -

Iran and Democratic People's Republic of Korea (DPRK)

The following jurisdictions have been identified as not having made sufficient progress in addressing
deficiencies or have not committed to an action plan developed with the FATF to address the
deficiencies. FATF calls on its members to consider the risks arising from the deficiencies associated
with: -

Algeria  Ecuador, Ethiopia, Indonesia,  Kenya,  Myanmar,  Pakistan,  Syria,  Tanzania,  Turkey, and
Yemen

If the following jurisdiction does not take sufficient action to implement significant components of its
action plan by February 2014, then the FATF will identify this jurisdiction as being out of compliance
with its agreed action plans and will take the additional step of calling upon its members to consider
the risks arising from the deficiencies associated with the jurisdiction. The jurisdiction is: -

Mongolia

FATF identifies a number of jurisdictions which have strategic AML/CFT deficiencies for which they
have developed an action plan with the FATF. While the situations differ among each jurisdiction,
each jurisdiction has provided a written high-level political commitment to address the identified
deficiencies. The jurisdictions are: -

Afghanistan, Albania,  Angola, Antigua & Barbuda,  Argentina, Bangladesh, Cambodia, Cuba,  Iraq
Kuwait
,  Kyrgyzstan,  Laos  Mongolia, Namibia,  Nepal,  Nicaragua,  Nigeria,  Sudan,  Tajikistan,
Vietnam and  Zimbabwe


Morocco and Nigeria are no longer subject to FATF’s monitoring process under its on-going global
AML/CFT compliance process

Given the small size of this country’s financial sector and its low impact on the international financial
system, the FATF have decided that
Sao Tome and Principe are removed from the list although it
should continue to work closely with GIABA to address its remaining AML/CFT deficiencies.

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19 October 2013  -  Update on the Eastern and Southern Africa Anti-money Laundering Group Public
Statement on
Uganda

Read Statement

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16 October 2013  -  President's Summary of Outcomes from the Experts’ Meeting on Corruption held
on 12 October 2013

Read More

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14 October 2013  -   IMF Report: Guatemala: Selected Issues and Analytical Notes  -  includes
information on Money Laundering issues

Read Extract and access Report

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12 October 2013  -  IMF Report:  Myanmar: 2013 Article IV Consultation and First Review Under the
Staff-Monitored Program - includes information on Money Laundering issues

Read Extract and access Report

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9 October 2013  -  Exporting corruption: Progress report 2013: assessing enforcement of the OECD
Convention on combating bribery

Access Report

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7 October 2013  -  Asia-Pacific Fraud Survey Report Series 2013 (E&Y Report)

Read Report (pdf file)

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3 October 2013  -  The Financial Crimes Enforcement Network (FinCEN) issues Advisory to update
financial institutions on activity associated with regulatory restrictions imposed on Mexican
financial institutions for transactions in
U.S.currency.

Read Advisory

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2 October 2013  -  Transparency International:  Media advisory - Major exporters still lag in
enforcing rules against foreign bribery

Read More

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30 September 2013  -  US Presidential Determination -- Major Drug Transit and Drug Producing
Countries for fiscal year 2014

Read More

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29 September 2013  -  Addressing corruption risk in M&A transactions: The international balancing
act (PWC Report)

Read Report (pdf file)

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25 September 2013  -  OECD: Portugal needs proactive enforcement to tackle severe foreign bribery
risks

Read Extract and access Report

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23 September 2013  -  OECD publishes Report: Anti-corruption Reforms in Eastern Europe and
Central Asia

Read Report

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20 September 2013  -   IMF Report: Republic of Kazakhstan: 2013 Article IV Consultation - includes
information on Anti-Money Laundering issues

Read Extract and access full report

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