It has also raised the focus on greater transparency of financial transactions, and on good governance. At the same time, the international community has become less tolerant of jurisdictions that are not adhering to international standards and is now all the more ready to impose sanctions on countries that don’t measure up.
When Switzerland is forced to give up or modify its long-standing reputation for bank secrecy. BIS Review 4/2010  1  For countries like Trinidad and Tobago, the systemic risk from money laundering has increased exponentially in the past several years. Firstly, our economy has become more open as barriers to trade and financial flows have been eliminated.