AG FILES INDICTMENTS OVER TERRORIST FINANCING AND MONEY LAUNDERING – CENTRAL BANK

Four years after the end of the war, the Attorney General, upon an initiative of the Central Bank's Finance Intelligence Unit, has filed indictments in three cases of terrorist financing, and seven cases of money laundering last year, a report says.

The Central Bank, in its 2013 Annual Report,

Has filed indictments in three cases of terrorist financing, and seven cases of money laundering last year

says 498 suspicious transactions were reported to the Financial Intelligence Unit (FIU) during the year under review, and 73 of them were transferred to the Criminal Investigation Department (CID) for action. Upon conclusion of the CID investigations, the Attorney General had filed these indictments.

However, the report does not detail these transactions.

The FIU monitors financial transactions by banks and finance companies to detect possible links to money laundering and terrorist financing.

In 2013, the report says, the FIU signed four agreements with foreign organisations, such as the Japan Financial Intelligence Centre, Lebanon Special Investigations Commission and the Financial

The FIU monitors financial transactions by banks and finance companies to detect possible links to money laundering and terrorist financing

Intelligence Units of Costa Rica and Denmark.

This was in order to share information on suspected cases of terrorist financing and money laundering. The FIU has also conducted special programmes to enhance the capacity of the banking sector to deal with cases of terrorist financing and money laundering and to enlighten the judiciary on the subjects.

During the year under review, the FIU had obtained the assistance of various international organisations when carrying out its functions.