Posted by andreas from p3EE3C3B3.dip.t-dialin.net (220.127.116.11) on Monday, December 02, 2002 at 3:33PM :
In Reply to: Re: Assyrian Aid Society-Chpaters posted by pancho from pool0440.cvx20-bradley.dialup.earthlink.net (18.104.22.168) on Monday, December 02, 2002 at 2:50PM :
: Subscribe to their magazine...I assure you they aren't trying to hide anything...that can't possibly help their program...the thing they try so hard to achieve. There are better ways to steal money than this one.
: It's one thing to be a diamond thief...it's another to steal from an organization that can only get funds if you DON'T steal from it.
+++ Charitable funds are rather seldom totally robbed or plundered or see direct and full diverting of monies.
More frequent abuses are financial cover operations and money laundering and .... but you won't be interested anyway ...
".... Enhanced Scrutiny of Financial Institutions in Underegulated Jurisdictions, especially those in the Middle East. Banks in major money centers in the world have put into place increasingly strong constraints against the placement of illicit funds. Some banks based in the Middle East, operating globally, have equally good systems for preventing money laundering and terrorist finance. However, to date there has been little to no money laundering enforcement in the Middle East. Historical reasons abound. For example, in oil rich states, those controlling oil resources have often preferred to require less financial transparency as a means of discouraging oversight by others within their country or outside it. In some oil rich countries, income taxes do not exist, and without such taxes some governments have had less incentive to maintain accounting, auditing, and financial standards to trace funds. Endemic corruption in other countries has further impeded transparency and oversight. Currently in the Middle East, the only countries with money laundering laws of any significant scope are Cyprus, Israel, Lebanon, and the United Arab Emirates. Each of these countries has a history of money laundering and lack of financial transparency. For many years, until it cleaned up its financial services sector in response to pressure from the European Union, the U.S. and others, Cyprus was one of the world’s centers for terrorist finance. In the remainder of the Gulf States, as well as in Algeria, Nigeria, Sudan, Egypt, among other countries, there remains little obstruction to many forms of financial crime and little to no scrutiny that would prevent money laundering. A week before the attack on the United States, Nigeria and Egypt were already placed on the list of non-cooperative countries by the Financial Action Task Force, as Israel and Lebanon had before them. The U.S. should consider undertaking a twin regulatory and diplomatic approach in relation to the financial institutions of those countries that place no barriers to the placement of terrorist funds. The regulatory approach would require enhanced scrutiny of financial transactions coming from these countries. A concurrent diplomatic approach would require countries without money laundering laws or their enforcement to enact and enforce such laws or face sanctions from the U.S. such as enhanced scrutiny by US financial institutions. Actions the U.S. could consider in pursuit of this objective might include: ..."
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