Compliance with AML/CFT law and regulations in these financial institutions require high commitments with non-compliances being seriously dealt with. At the international level, we have witnessed that banks have been penalized billions of dollars for failure to comply with AML/CFT directives.
Overall growth this year is expected to be about 5 per cent, in terms of both GDP and GNP. The data for the early part of this year suggest that growth was probably in excess of these levels but there are two factors that will act to reduce growth somewhat as the year progresses and into next year.