Turkey eyes allies for money laundering fight
ANKARA - Anatolia News AgencyTurkey is determined to step up its fight against money laundering and financing of terrorism as it eyes to expand its network of allies this year.
Turkey’s Financial Crimes Investigation Board (MASAK) will increase the number of countries it cooperates with regarding financial intelligence sharing on money laundering and financing. Having already signed memorandums of understanding with 35 countries since 2006, Turkey is aiming to increase the number to 38 in 2013, and France, Italy and Spain are on the MASAK’s list.
$1.6 trillion laundered in the world
Authorities say it is impossible to know the exact amount of revenues subjected to money laundering but according to a UN estimation, criminals, especially drug traffickers, may have laundered around $1.6 trillion, or 2.7 percent of global GDP, in 2009. Those memorandums contribute fast and effective support t$1.o efforts to fight against money laundering and financing of terror, both in theoretical and practical ways.