FATF launches Arab anti-money laundering group

The Paris-based Financial Action Task Force (FATF) has set up a regional grouping to combat money laundering in the Middle East and North Africa, the head of the Arab banking association said Monday 18 April.

Joseph Torbey told a Beirut forum that 14 Arab states had joined the new grouping, FATF's seventh regional affiliate around the world.

Lebanon's Mohammed Baasiri, the new body's president, said "no Arab country is on the FATF blacklist." But Torbey called on Arab states to "demonstrate

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