This week's news, that the Republic of Sao Tome & Principe has passed and enacted a money laundering law, could now be cause for concern if you are with an international bank. Sao Tome, which was designated a country of concern by the Financial Action Task Force (FATF) in March, has been a target of US law enforcement for some time, due to its prior lack of any AML laws, and suspicious activities observed by investigators. My reason for this alert deals with the illicit funds already on deposit. Where will they now go?

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