U.S. lawmakers continued calls for tighter anti-money laundering (AML) and counter-terrorist financing (CTF) oversight last week, with the House of Representatives passing a resolution to close what were characterized as shortcomings in the existing regulatory regime.
Sponsored by Maxine Waters, the California Democrat who chairs the House Financial Services Committee, the resolution aims specifically at shoring up what she called "significant loopholes" in regulation around the arts and antiquities and real-estate sectors and urging financial institutions to pay greater attention to the movement of dirty money from abroad.
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