Saturday, October 31, 2020

Meeting anti-money laundering obligations in the Dominican Republic

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Despite an economy that is among the largest in the Caribbean, the Dominican Republic (DR) has struggled to assert itself on the international financial stage because of poor regulatory controls. New regulations introduced in 2017, though, are changing the landscape. The new Anti-money Laundering and Terrorist Financing Act came into effect on 1 June 2017, replacing the existing Anti-money Laundering Act and bringing DR into line with financial crime legislation already in place in many developed nations. […]

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