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The Role of Banks in Fighting Money Laundering and Terrorism Financing

The Role of Banks in Fighting Money Laundering and Terrorism Financing

Banks have complied with the requirement of submitting suspicious transaction reports and large cash transactions reports in the manner prescribed by the FIA.

The Money Laundering and Terrorism Financing trends and methods keep evolving and Banks should continue to implement measures aimed at overcoming deficiencies identified in the National ML/FT risk assessment conducted in 2017 and the Mutual Evaluation Report 2016.