IMF Starts Antimoney-laundering Project

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(Rapaport…December 5, 2002) A new International Monetary Fund (IMF) program is designed to combat terrorism by helping countries detect money laundering and make it more difficult through regulation. Conflict diamonds reportedly are one way terror groups have hidden and transported funds internationally.

The IMF’s antimoney-laundering project does not address conflict diamonds specifically, focusing on government economic policy instead of law enforcement. But tighter economic oversight can help stymie any black marketeering, including the sale of illegal diamonds, IMF spokesman Bill Murray said.

“Black markets undermine economic stability,” Murray said. “That’s where we come in. Our focus is to make sure economies are stable and can grow.”

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