US urges Middle East to implement AML laws
WASHINGTON, DC – The Middle East must implement anti-money laundering (AML) and counter-terrorist financing laws if the region is to integrate into the global financial community, says Stuart Levey, under-secretary for terrorism and financial intelligence at the US Treasury.
Levey has been visiting the Middle East promoting adoption of the Financial Action Task Force (FATF) recommendations against money laundering and terrorist financing. In a July testimony to Congress on Money laundering and terrorist financing in the Middle East and South Asia, he said the region remains a wellspring of, and a target for, terrorist financiers and those who spread extremist ideologies that justify and fuel terrorism. He said Saudi Arabia-based and funded organisations remain a key
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