Global Banking Regulator You’ve Never Heard of Grows in Power
At its February 2013 meeting in Paris, the Financial Action Task Force
(FATF), a multilateral group focused on blocking money laundering
throughout the world, announced that Turkey would not be “blacklisted”—a
decision that reveals the increasing power of the little known
organization. While the FATF is not a panacea for the difficult-to-solve
problems of terrorism and corruption, its growing stature enhances the
West’s ability to defend itself against asymmetric threats.
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Financial Transaction Tax Will be a Drag on Europe
A controversial EU tax on equity and debt transactions has been lauded
by 11 EU members as a way to generate much-needed revenue and to control
the supposed disruptive effect on financial markets of high frequency
traders and derivatives. LIGNET believes this tax is unlikely to achieve
these goals and may drive investors from Europe to other regions.
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West African Drug Cartels Pose a Serious Threat
Long considered novices, “mules,” and disposable couriers by the larger
and more established cartels and drug lords in Mexico, Central America,
and South America, West African narco-criminals have evolved to the
point that they’re now running their own highly effective importing and
exporting operations. Their networks have become so complex that even
major funding for drug enforcement supplied by the U.S. government will
have a hard time stopping them.
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