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Article: The Bahamas, Australia Agree to Co-operate in The Fight Against Money Laundering.
- Article from:
- Mondaq Business Briefing
- Article date:
- April 19, 2004
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Copyright informationCOPYRIGHT 2004 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Bahamas and Australia have signed a Memorandum of Understanding under which the two countries will exchange financial intelligence to combat money laundering and terrorism financing.
Acting Director of the Bahamas FIU Edward Smith says the agreement was necessary to allow AUSTRAC to comply fully with its responsibilities as a member of The Egmont Group, in relation to its cooperation with The Bahamas. (The Egmont Group is comprised of 84 Financial Intelligence Units, from various countries around the world, responsible for receiving, analysing and disseminating financial information reported pursuant to their respective anti-money laundering and anti-terrorist ...
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