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International Group Issues New Money Handling Guidelines

“The Financial Action Task Force (FATF) – of which Switzerland is a member - has issued some major changes to its guidelines on dirty money.

“In future, casinos, real estate agents and dealers of precious metals and stones will be asked to abide by the same measures to tackle money laundering as banks and other financial institutions.

“At a meeting in Berlin, FATF members also accepted stricter rules against terrorist financing.

“…Improved transparency requirements have also been adopted, along with stricter rules governing higher risk customers and politically exposed persons…”

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