OPBAS finds improvements needed amongst anti-money laundering supervisors

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OPBAS finds improvements needed amongst anti-money laundering supervisors

By Financial Conduct Authority UK

In its fifth report, FCA’s OPBAS has found that while most professional body supervisors (PBSs) are complying with money laundering regulations, how they supervise is still not consistently effective. The report found weaknesses in how PBSs were using enforcement powers and tools to supervise members.

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