Wednesday, 12 October 2011

Turkey wants international cooperation against illegal money laundering

According to the Financial Crimes Investigation Board (MASAK), Turkey plans to expand cooperation between international countries to fight against money laundering and funding of terrorist groups.

Turkey recently came to terms on an agreement with France that will see the nations cooperate on terrorism in both countries and is close to making a similar agreement with Germany.

MASAK has lots of cooperation agreements with countries worldwide including: Great Britain, Japan, Canada, Portugal, Sweden, Croatia, South Korea, Ukraine, and many more. The MASAK agreements allow countries to share information to countries regarding matters of international crime and terrorism.

The agreements will see Turkey expand the nations knowledge on terror and crime and could lead to a crackdown on illegal terror groups such as the PKK in Turkey.

According to the United Nation’s figures, it is estimated that money laundering profits globally to the amount of nearly $1.5 trillion every year. Most of this money goes towards illegal activities and most terrorist groups get funding from illegal money laundering.


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