Finance Ministry follows trail of PKK finances to Scandinavia

The Finance Ministry is stepping up efforts to prevent the financing of terror activities and the laundering of criminal revenue, working to map the course of Kurdistan Workers’ Party (PKK) financing in Scandinavian countries.

In recent days, the Finance Ministry’s Financial Crimes Investigation Board (MASAK) and Revenues Administration (GİB) have stepped up their efforts to map the financial traffic of the outlawed PKK. MASAK officials say that efforts to expand intelligence on PKK financing in Scandinavian countries such as Switzerland, Norway, Finland and Denmark picked up speed with meetings toward the end of 2009. In 2010, Turkish authorities are aiming to reach an agreement with these nations that will bring an end to money laundering and fundraising for the terrorist group in these nations.

The Scandinavian nations are a focal point of many PKK financial activities, MASAK says, and during the year Turkey aims to gather detailed information on the money trail through these countries. Two years ago, a mutual memorandum was signed between MASAK and Swiss Confederation authorities aiming to prevent money laundering and the financing of terrorism. Within the framework of that memorandum, an agreement on double taxation between Norway and Turkey was revised last week. The agreement aims to prevent tax loss and fraud in mutual commercial relations by enabling the exchange of information between institutions to that end.

The Finance Ministry is also planning changes to the Bylaws on Precautions to Prevent Money Laundering and Financing of Terrorism. The changes drafted by the ministry include changes to the information required when performing electronic money transfers, eliminating the different requirements for domestic and international electronic transfers. In addition to the current requirement that the sender of money provide a Turkish Republic identification number, passport number and tax identification number, to bring this up to the international standard, an address or date and place of birth will also be required.

Source: Today's Zaman