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Belgium warns that money laundering is more likely through general partnerships

Authorities in Belgium are warning that a specific type of legal corporate body carries higher risk of being connected to money laundering.

Suspicious activity reports (SARs) related to these businesses have been repeatedly flagged with public prosecutors – a sign that they are being seen as “vehicles” for various types of financial crime including tax fraud, organised crime and human trafficking, according to Belgium’s Financial Information Processing Unit (CTIF)

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