Int'l money laundering conference opens in Bali<\/p>\n
Fabiola Desy Unidjaja, The Jakarta Post, Jakarta<\/p>\n
A two-day international conference on money laundering and
\nterrorist financing opens in Bali on Tuesday, with participating
\ncountries expected to issue a statement expressing political
\nintent to strengthen their ability to prevent money laundering
\nactivities.<\/p>\n
Co-hosted by Indonesia and Australia, the conference will also
\nserve as an opportunity for some 30 countries to compare notes on
\nhow each country deals with the problem.<\/p>\n
\"The conference aims at supporting national and regional
\nmeasures in dealing with terrorism, strengthening participating
\ncountries' ability to detect financial sources of such crimes,\"
\nsaid a statement issued by the Ministry of Foreign Affairs on
\nMonday.<\/p>\n
Ministry of Foreign Affairs director general for political
\ncooperation Makmur Widodo said on Monday that the conference
\nwould issue two documents:<\/p>\n
\"The co-chair statement will underline commitments from
\nparticipating countries to overcome these crimes,\" Makmur told
\nThe Jakarta Post, \"while the second document will be the co-chair
\nreport, which consists of experience and measures that have been
\ntaken by the countries in dealing with the crimes,\" he added.<\/p>\n
However, Makmur said that the conference would not issue a
\ncommon plan of action as such crimes feel under each country's
\nbanking legislations.<\/p>\n
\"Only by exchanging views and experience do we hope to learn
\nmore on how we must improve our legislation and abilities to
\nhandle such activities,\" he added.<\/p>\n
Most countries in the Asia-Pacific rim are slated to
\nparticipate in the two-day conference.<\/p>\n
Also attending the conference are several international
\nfinancial organizations such as the World Bank (WB), the Asian
\nDevelopment Bank (ADB) and the International Monetary Fund (IMF).<\/p>\n
The conference will be officially opened by Indonesian
\nMinister for Foreign Affairs Hassan Wirayuda and Australian
\nMinister of Justice Chris Ellison.<\/p>\n
Terrorism issues have encroached upon the region and the lives
\nof its people following the Bali bomb blast on Oct. 12 and the
\ninclusion of Jemaah Islamiyah, a terrorist network operating in
\nSoutheast Asia, on the United Nations list of terrorist groups.<\/p>\n
To stamp out terrorism, countries in the region have sought
\ncooperation in many fields, with money laundering and terrorist
\nfinancing among the main discussions.<\/p>\n
\"We are eager to find a road map to how we are going to fight
\nthe crimes together,\" Makmur said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/intl-money-laundering-conference-opens-in-bali-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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