The Financial Reporting Centre (FRC) has forwarded to the Treasury the draft changes to the money laundering law in a fresh bid to compel lawyers to start disclosing suspicious financial deals involving their clients.
The anti-money laundering watchdog says the proposed amendments to the Proceeds of Crime and Anti-Money Laundering Act (Pocamla) are being fast-tracked to designate advocates, notaries and other independent legal professionals as reporting entities for dirty cash dealings.
