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Admin February 24, 2019

AML/CFT/Sanctions/TAX Compliance & FINTECH in Syria

The issue of combating money laundering, financing of terrorism and organized crime takes more attention from all authorities and stakeholders in the world as a result of the increase in these cross-border operations, their diversity and their ramifications, taking advantage of modern financial and informational techniques in payment methods and bankingservices, In their implementation, exposing banks to considerable risks.

Since the emergence of tax regimes in the world, they have created ways to evade the obligation to pay these taxes. Since most countries found that the individual actions of each country are not enough, and since the unpaid amounts are estimated, for example, in Europe at 160-190 billion euros and in the United States by 460 billion US dollars, many countries to cooperate in order to detect tax smugglers across Annual reports are exchanged between these countries. Over time, countries that are not part of this international cooperation will find themselves unable to conduct financial operations and global trade.