BusinessPostCorner.com
No Result
View All Result
Saturday, June 14, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Qatar Needs To Make Some ‘Major Improvements’: Money Laundering Watchdog Says

June 1, 2023
in Crypto News
Reading Time: 2 mins read
A A
0
Qatar Needs To Make Some ‘Major Improvements’: Money Laundering Watchdog Says
ShareShareShareShareShare
Source: Adobe

Qatar needs to make some “major improvements,” on how it responds to terrorist financing, according to a global money laundering and terrorist financing watchdog.

The Financial Action Task Force accused Qatar of not having enough controls and needs to better understand “more complex forms of money laundering and terrorist financing,” according to a report released by the watchdog on Wednesday.  

The report summarized anti-money laundering and counter-terrorist financing measures from an on-site visit from June 19 to July 7, 2022, according to the report. 

Qatar has “a good overall understanding of money laundering and terrorism risks,” at the national level, the watchdog said. 

“Nonetheless, further work is necessary to ensure that law enforcement and supervisors are implementing these reforms, particularly in relation to Qatar’s judicial system,” FATF said. 

Qatar is investigating more money laundering cases, though the total number of those cases prosecuted remains low overall, the watchdog said. 

“Authorities are investigating a range of ML [money laundering] offences; however, case studies suggest that authorities can continue improving their investigations to identify the role Qatar may play in broader, complex or professional ML schemes and networks. Nevertheless, authorities are well-equipped and aware of the current ML risks and are continually improving their abilities to pursue ML.”

FATF taking the lead 

Raja Kumar, FATF president, called on the G-7 to put an end to “lawless spaces” and to take the lead to regulate cryptocurrencies, in a statement on May 18. 

Kumar called on the finance ministers from some of the world’s seven most influential economies to implement recommendations from the FATF, which include going after money laundering and terrorism financing.

The FATF president said that also includes the travel rule — a requirement that requires crypto service providers to share certain information about transactions to prevent misuse by criminals and terrorists. 

“G7 countries should lead by example and regulate the crypto sector so that no virtual safe havens exist for illicit financial transactions,” Kumar said in a post published on Twitter.

Credit: Source link

ShareTweetSendPinShare
Previous Post

ERC Schemes Are Symptoms Of A Dysfunctional Tax System

Next Post

Tech layoffs are highest since the dot-com era

Next Post
Tech layoffs are highest since the dot-com era

Tech layoffs are highest since the dot-com era

What Elon Musk’s feud with Trump means for Tesla shareholders

What Elon Musk’s feud with Trump means for Tesla shareholders

June 7, 2025
Elliott Davis takes private equity investment

Elliott Davis takes private equity investment

June 11, 2025
Social media image sizes (2025 update) for every platform

Social media image sizes (2025 update) for every platform

June 10, 2025
Israel hit by retaliatory strikes as UN nuclear chief says key Iranian enrichment facility was heavily damaged

Israel hit by retaliatory strikes as UN nuclear chief says key Iranian enrichment facility was heavily damaged

June 13, 2025
Bitcoin Price Prediction: BTC Holds 9.7K as Bulls Watch 1.8K

Bitcoin Price Prediction: BTC Holds $109.7K as Bulls Watch $111.8K

June 10, 2025
What does the Air India crash mean for the plane maker?

What does the Air India crash mean for the plane maker?

June 12, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Venice is set to host Jeff Bezos and Lauren Sanchez’s fairytale wedding—but residents aren’t feeling the love

Venice is set to host Jeff Bezos and Lauren Sanchez’s fairytale wedding—but residents aren’t feeling the love

June 14, 2025
Did the US know about Israel’s attack all along?

Did the US know about Israel’s attack all along?

June 14, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!