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The FATF’s customer identification framework: fit for purpose? | Journal of Money Laundering Control | Vol 17, No 3

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The FATF’s identification principles, guidance and practices resulted in processes that are largely bureaucratic and do not ensure that identity fraud is effectively prevented. Strict identification requirements on the other hand may impact on financial inclusion, leaving the FATF with little leeway to raise its standards.

From The FATF’s customer identification framework: fit for purpose? | Journal of Money Laundering Control | Vol 17, No 3.

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