U.S. Drops 3 From Money-Laundering List
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Citing their tougher stances against money laundering, the Treasury Department said today that it had notified American financial institutions that they could relax their scrutiny of transactions involving Israel, Lebanon and St. Kitts and Nevis. The announcement follows last month’s decision by the Financial Action Task Force on Money Laundering, an intergovernmental body, to remove the three countries from its list of countries and territories that were judged to be uncooperative. Fighting money laundering has taken on greater importance since the Sept. 11 attacks as authorities work to thwart militants in their financing of operations. Inclusion on money-laundering blacklists can harm a nation’s economy by causing nervousness among investors, who may worry that they could be associated with illegal practices. More : query.nytimes.com |