Bali hosts meeting to combat terror financing<\/p>\n
Agence France-Presse, Jakarta<\/p>\n
A regional conference on fighting money laundering and
\nterrorist financing starts Tuesday in Bali, some two months after
\nthe bombing which killed more than 190 people and devastated the
\nIndonesian island's tourist trade.<\/p>\n
The venue for the two-day meeting was decided before the blast
\nbut keeping it unchanged is an act of defiance, Indonesian
\nofficials have said.<\/p>\n
\"The holding of the conference in Bali is all the more
\nrelevant after the Bali bombing. We want to show that we will not
\nbow to the terrorists,\" foreign ministry spokesman Marty
\nNatalegawa said last month.<\/p>\n
\"Disrupting the financing of terrorist activities is a key
\neffort in combating terrorism.\"<\/p>\n
The conference will be co-hosted by Australia, 88 of whose
\nnationals were killed in Bali.<\/p>\n
Justice Minister Chris Ellison and Indonesian Foreign Minister
\nHassan Wirayuda will deliver keynote speeches to delegates from
\n33 countries from Asia and the Pacific Rim, ranging from Canada
\nto the Cook Islands.<\/p>\n
Government officials, senior members of key international
\norganizations and private-sector executives will take part.<\/p>\n
The conference \"represents an important opportunity to
\nstrengthen efforts in the fight against money laundering and
\nterrorist financing in the Asia-Pacific region,\" the Indonesian
\nforeign ministry said in a statement.<\/p>\n
Discussions will have little apparent relevance to the Bali
\nblast, which according to investigators was financed with just
\n30,000 dollars.<\/p>\n
Rather than discuss specific cases, the conference is expected
\nto hear about the legal and administrative steps which
\nparticipating nations have taken to combat terrorism, a foreign
\nministry official said.<\/p>\n
In Indonesia's case that includes an emergency presidential
\nanti-terror decree which allows for detention without trial of
\nterror suspects for up to six months. Indonesia has also passed a
\nlaw to combat money laundering.<\/p>\n
\"We have a high commitment to attack terrorism and fight
\nagainst terrorist financing including money laundering,\" the
\nofficial said.<\/p>\n
Although the commitment is there, the country lacks technical
\nexpertise needed to deal with such crimes, he said.<\/p>\n
A closing statement is expected to affirm the nations'
\ncommitment to work together, the official said.<\/p>\n
Investigators say the cash that financed the Bali bombing came
\nfrom a man called Hambali, a suspected leading member of Osama
\nbin Laden's al-Qaeda network. He gave money to a Malaysian called
\nWan Min who in turn passed it on to a man called Mukhlas, they
\nsay.<\/p>\n
Mukhlas, who is believed to have taken over from Hambali as
\noperations chief of regional terror group Jamaah Islamiyah, is in
\ncustody in Bali while Wan Min is being held in Malaysia.<\/p>\n
Hambali is still on the run and being hunted by five
\ngovernments.<\/p>\n
The Asia-Pacific Economic Cooperation (APEC) forum believes
\nthat choking off funds is a valuable tool against terror. APEC
\nfinance ministers have agreed on an action plan.<\/p>\n
This includes cutting terrorists' access to the international
\nfinancial system; implementing international agreements and
\nstandards; sharing information; setting up programmed to train
\nfinancial regulators; and ensuring that alternative remittance
\nsystems, such as hawala, are not misused by terrorists.<\/p>\n
Co-host Indonesia is ironically still on a money laundering
\nblacklist compiled by the G7 Financial Action Task Force.<\/p>\n
Central bank official Yunus Husein said in August this
\nreflected several loopholes in the financial system and obstacles
\nin monitoring non-financial institutions.<\/p>\n
He said some progress has been made with the passage of anti-
\nmoney laundering legislation in April, which allows for a
\nsupervisory body to be set up.<\/p>",
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