Two of Eleven Money Laundering Cases Referred to Prosecution in Yemen
Winner for run-on sentence of the day:
The US financial assessment team said efforts to counter money laundering are in their infancy in Yemen, (quite a bad spot for that) because not only of the absence of a legal framework (the law pending in parliament might impinge on contributions for charity purposes. lawmakers claim) but also because of the lack of awareness of standard investigative proceedures themselves.
Almotamar.net - An official at the Central bank of Yemen (CBY) on Tuesday disclosed 11 cases of suspected money laundering in Yemen director of banking studies institute of the VBY Yassin Sharaf al-Qadasy said, at a symposium on money laundering and its dangers on the on the national economy organised today the centre for studies and economic information in collaboration with the banking magazine, that two of the suspected cases were referred to the prosecution to take legal measures about them.
While al-Qadasy accused the present law of money laundering of shortcoming as it is confined to certain crimes under the globalization of the crime he looks forward to a draft law still under consideration at the parliament and that draft law was drafted according to international criteria. He added that Yemen fully committed with regard of money laundering.
