Accountants already face plenty of compliance requirements when it comes to issues like accounting and auditing standards, the Tax Code and Sarbanes-Oxley, so the last thing they need to worry about is being connected to money laundering and terrorist financing investigations, but those problems are exactly what the government is urging them to keep in mind.
At a conference held last week by the New York State Society of CPAs and its Foundation for Accounting Education, prosecutors, FBI agents and attorneys warned about the dangers faced by accountants in such investigations. While accountants owe a duty to their clients to protect confidential financial information, law enforcement doesn't like to be stonewalled when it's probing potential suspects.
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