Risks of cash laundering, terrorist financing discussed

Muscat – 

The National Committee for Combating Money Laundering and the Financing of Terrorism (NCCMLFT), in coordination with the National Counter-Terrorism Committee (NCTC), held a meeting in the course of which the outcomes of the national assessment of the dangers associated to the crimes of cash laundering and terrorism financing have been reviewed and discussed.

The meeting came as component of the continuous coordination among all relevant parties, and activation of national methods and adhere to-up on all developments at nearby, regional and international levels.

The meeting was component of the technical cooperation programme among the sultanate and the International Monetary Fund, which consists of, in addition to reviewing the outcomes of the mentioned report, the initiation of the actions to create a national method and action strategy to deal with the findings of the national danger assessment report, as effectively as prepare for mutual evaluation of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) program in the sultanate.

The preparation of the national report on dangers came in accordance with the choice of the Council of Ministers to assign NCCMLFT in coordination with all concerned parties.

The report identifies, evaluates and understands the dangers of cash laundering and financing of terrorism that the sultanate could face in order to make certain that the sources are directed to efficient danger management and to strengthen the national capacities, proactive measures and sensible measures to boost the efficiency of its systems. It also appears to create the capacities of concerned bodies and their preparations to preserve abreast of developments.

Information Source: Muscat Daily