By Martin Coyle ( August 24, 2026, 14:26 GMT | Insight) -- Criminals now offer money laundering services at a "huge scale" for a small fraction of the cost they used to charge, the head of the Financial Action Task Force has warned. Giles Thomson, who took over as president of the global standard setter last month, has pledged to tackle the “global fraud epidemic,” saying it threatened financial stability and financial inclusion.Criminals now offer money laundering services at a "huge scale" for a small fraction of the cost they used to charge, the head of a global group tasked with setting regulatory standards for economic crime has warned....
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