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US said to be “largely compliant” with a recommendation that countries have rules preventing criminals from hiding dirty money in shell companies.
New proposals aim to reduce ambiguity and lead to a reduction in over-compliance or inconsistent application.
But removal of the country from watchdog’s gray list prompts criticism from global anti-corruption groups.
As regulators extend their reach to the art world to combat money laundering, businesses and clients bear the brunt of new compliance requirements.
Russia the first country to be suspended from membership of intergovernmental body.