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DTSTAMP:20260419T211910Z
DTSTART:20221031T151500Z
DTEND:20221031T163000Z
SUMMARY:Misuse of corporate structures and money laundering by beneficial
  owners: FATF’s call to the professions to be more resilient to financia
 l crime
DESCRIPTION:The Pandora Papers leak of confidential files again highlight
 ed that clients may seek to misuse corporate structures and trust arrang
 ements to hide assets. While the structures may be lawfully established 
 in many jurisdictions\, the assets placed in them can be tainted as deri
 ving from the proceeds of crime.\n\nAccordingly\, the Financial Action T
 ask Force (FATF) has called on various professions\, including Lawyers\,
  Accountants\, Financial advisers\, Trustee service providers and Real E
 state dealers to do more to prevent financial crime.\nFATF has support f
 rom groups ranging from the UN\, OECD\, World Bank\, and Transparency In
 ternational\, to national and regional law enforcement agencies. And the
  G-20 nations’ leaders are pressing for beneficial ownership registers t
 o be compiled in high risk countries.\n\nThis session will explore how\,
  and why\, banking and financial controls seeking to detect and prevent 
 money laundering andterrorist financing have been gradually expanded int
 o the traditional professions\, including:\n• What is the FATF’s perspec
 tive on the major risk areas\, and how they should be addressed?\n• How 
 have Bar Associations and Law Societies around the world tried to educat
 e\, guide\, and monitor their memberscommitment to AML requirements?\n• 
 What more can be done to make the professions resilient against financia
 l crime\, and ensure AML-CFT controls aresufficiently adapted from their
  banking origins to meet the special features of the legal profession?\n
 
LOCATION:Room 210\, Level 2
UID:65c060cf-e058-4322-af94-05bec8f3a028
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