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(c) The OECD’s Financial Action Task Force on Money Laundering (FATF) recommends preventative measures to betaken by independent legal professionals
(b) Comment on the need for ethical guidance for accountants on money laundering. (4 marks)
6 (a) Explain the term ‘money laundering’. (3 marks)
(b) A summary of the information needed to satisfy our obligations under the money laundering legislation andany action that should be taken before a
(c) State the tax consequences for both Glaikit Limited and Alasdair if he borrows money from the company, asproposed, on 1 January 2006. (3 marks)