US' Paulson complains some 'key allies' failing to fight terror finance |
|
|
|
Published
:
Thu, 14 Jun 2007 13:22
|
WASHINGTON (Thomson Financial) - Many of the United States' 'key allies' in fighting terrorism directly aren't making a serious effort to fight terrorist financing, warns Treasury Secretary Henry Paulson.They 'have yet to take such basic steps as adequately criminalizing money laundering,' he complained, without naming names. Paulson was speaking to the Council on Foreign Relations in New York. Treasury provided a copy of his speech to reporters in Washington.Even more countries, Paulson said, 'failed to develop the national authorities and capabilities necessary to apply targeted financial measures to any terrorist group other than Al-Qaeda and the Taliban.'Using financial intelligence to find the people, banks and governments funding terrorism and proliferation, and cutting them off from the global financial system is far more effective, in the Treasury view, than broader political sanctions.The system worked so well against South American drug cartels, Paulson said, that they call being put on the Treasury's list 'muerte civil,' or civil death.The Bush administration claims its sanctions against North Korea's bankers in Macao helped push Kim Jong Il's government back to negotiations over its nuclear program.Speaking frankly, Paulson said that Iran is the next target and the US is trying to round up government and private-sector support for putting more of the same kind of pressure on Tehran.dennis.moore@thomson.comdem/wash/cmrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
|
|
Print this Story
THOMSON FINANCIAL NEWS TOP STORIES Macroeconomics 15:30 BST 