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Article: Dirty laundry.(money laundering in Middle East)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- March 2, 2001
- Author:
CopyrightCOPYRIGHT 2001 MEED Middle East Economic Digest. All Rights Reserved. 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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Rima Fahl [*]
More than 10 years after the Vienna Convention against illegal drugs trafficking came into force, the countries of the Middle East are still lagging behind in the war against money laundering -- the means whereby the drugs barons cover their profitable tracks. Rima Fahl [*] looks at the region's halting progress in introducing anti-money laundering legislation
IN June 1998, the UN General Assembly met to discuss one subject: the illicit drug trade and how to combat it. Three resolutions were passed unanimously, with Resolution S-20/4 focusing on efforts to counter money laundering. It is estimated that at least $200 billion is laundered ...