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The COVID-19 pandemic has generated a number of different responses, ranging from social assistance and tax relief initiatives to enforced confinement and travel restrictions. Economic and industrial activity has slowed drastically, providing new and unforeseen opportunities for criminals – including terrorists – to generate (and launder) illicit proceeds through the financial system. Financial institutions must refocus on their AML monitoring processes to counter new money laundering challenges.

For more information on how our FRC team can help you deal with the money laundering and terrorism financing threats posed by COVID-19, please download our COVID-19 and AML flyer or contact us.

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