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com, provide daily news and analysis of anti-money laundering regulations and reference information on money laundering laws, regulations, international developments and government action. 1) According to the International Monetary Fund, money laundering activities are estimated to constitute between 2 and 5 percent of the world's Gross Domestic Product, amounting to approximately $600 billion annually. Treasury now requires life insurers to establish formal compliance programs to prevent their products from being used for money laundering or terrorist financing. |
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