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IMF investing "significant" efforts on anti-money laundering - Lagarde

WASHINGTON, April 26 (KUNA) -- Managing Director of the International Monetary Fund (IMF) Christine Lagarde affirmed on Thursday that the IMF has been "investing significant efforts to help member countries improve their frameworks on anti-money laundering and countering the financing of terrorism." In a statement following her participation in the ministerial conference in Paris on terrorism financing, Lagarde affirmed that "this conference provides a good model of how countries can work together to engage in collective action in the fight against terrorism financing." "I want to congratulate the French authorities for their leadership on this crucial issue," she remarked.
She noted that during the discussions, she stressed "there are still challenges to the effectiveness of counter-terrorism financing efforts.
These include improving our understanding of terrorism financing risks, making better use of financial intelligence, and enhancing domestic and international cooperation." "Looking ahead, by working together, the IMF and the broader international community can reinforce defenses against the financing of terrorism, and build on the progress made so far to confront new challenges," she added, and that the IMF's "intensified engagement on governance and corruption will help in this regard." She affirmed that the IMF will also continue "to play its part in these efforts through global dialogue, surveillance, financing programs, research, and capacity development." "Terrorism destroys lives. Terrorist attacks can also have direct economic effects.
These heinous acts often have a devastating impact on investor and consumer confidence, and affect key sectors of the economy, such as financial markets and tourism," Lagarde remarked. (end) si.mb