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PANDORA PAPERS: Just one-third of countries have laws on transparency; highlight’s a ‘lack of effective action’ in the wake of the Pandora Papers says FATF

By Elizabeth Hearst for AMLi

“related to the transparency of legal persons and arrangements that comply with FATF standards”. FATF says this situation highlights a “lack of effective action”. 

In a statement issued following the body’s plenary meeting, FATF disclosed that just 10% of these countries take “effective measures to ensure the transparency of company and trust ownership”. 

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