The Bahamas and seven other countries have been asked to seize $600 million in frozen assets and turn it over to an American controlled fund intended for the benefit and welfare of the Iraqi people.
The move was disclosed yesterday as The Bahamas announced plans to introduce an anti-terrorism bill in the next few weeks as part of an international drive against terrorist organisations.
Attorney General Alfred Sears spoke of the proposed new legislation after returning from Panama, where he attended the plenary session of the Caribbean Financial Action Task Force, Mr. Sears, who is also CFATF chairman, said the meeting was very successful.
Experts from throughout the world gave presentations on different methods being used against money-laundering and the financing of terrorism. Representatives from all of The Bahamas’ regulatory agencies were present.
Source: Rupert Missick, The Tribune
