What the shortcomings three-stage of money laundering

Reference no: EM132325508

Question 1 - What are the shortcomings of the three-stage interpretation of money laundering in an increasingly sophisticated financial landscape? Do you find the interpretation useful for some purposes? Provide reasons for your answer.

Question 2 - Two significant reviews of Australia's AML/CTF program were recently undertaken. The FATF Mutual Evaluation on Australia (MER) was reported in April 2015 and the Australian Statutory Review of the AML/CTF Act (Statutory Review) was reported in April 2016.

In your view, does the Statutory Review adequately consider the key findings in the MER? Provide reasons for your answer. In your answer specifically consider reporting obligations (chapter 6) or record keeping (chapter 8) in the Statutory Review.

Reference no: EM132325508

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