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
Showing posts with label Denmark. Show all posts
Showing posts with label Denmark. Show all posts
on Sunday, February 26, 2012
Investigators looking into the collapse of Iceland’s financial system are re-examining allegations that its banks may have been involved in money laundering.
Documents relating to the allegations are believed to have been circulated last week between officials in Iceland, Denmark and the Serious Fraud Office in London.
A wide-ranging inquiry into the collapse of Iceland’s banks has started to unravel a complicated network of unconventional loan agreements between the banks and high-flying entrepreneurs.
Kaupthing, Iceland’s biggest bank, which attracted British savers’ money through the Kaupthing Edge savings account, has fiercely denied allegations it was involved in money laundering in the past.
The bank sued a Danish newspaper at the High Court in London in 2006 over allegations related to holding companies in Luxembourg set up for a Russian oligarch. The claims were settled out of court.
It is understood that the money laundering claims are not central to the core investigations into Iceland’s collapse but are being reviewed as part of the broader inquiry.
Each of the three big banks — Kaupthing, Landsbanki and Glitnir — loaned large sums to their biggest shareholders on favourable terms.
It has emerged that at the time of Glitnir’s collapse, the 15 biggest creditors were all connected to FL Group, its largest shareholder, which was controlled by Jon Asgeir Johannesson, the boss of collapsed Icelandic retail group Baugur.
Meanwhile, allegations of market manipulation in Icelandic companies have ensnared British entrepreneurs such as Kevin Stanford, the boss of the All Saints fashion chain, and the property and mining tycoons Moises and Mendi Gertner.
Stanford said he had not been contacted by investigators about the Icelandic collapse. A Gertner spokesman said loan deals offering to buy shares in Kaupthing were pushed as part of broader dealings with the bank.
“There was an understanding that if these shares were taken up then they would be in a beneficial position to secure funding from Kaup-thing in the future,” he said.
Source: Times Online
Documents relating to the allegations are believed to have been circulated last week between officials in Iceland, Denmark and the Serious Fraud Office in London.
A wide-ranging inquiry into the collapse of Iceland’s banks has started to unravel a complicated network of unconventional loan agreements between the banks and high-flying entrepreneurs.
Kaupthing, Iceland’s biggest bank, which attracted British savers’ money through the Kaupthing Edge savings account, has fiercely denied allegations it was involved in money laundering in the past.
The bank sued a Danish newspaper at the High Court in London in 2006 over allegations related to holding companies in Luxembourg set up for a Russian oligarch. The claims were settled out of court.
It is understood that the money laundering claims are not central to the core investigations into Iceland’s collapse but are being reviewed as part of the broader inquiry.
Each of the three big banks — Kaupthing, Landsbanki and Glitnir — loaned large sums to their biggest shareholders on favourable terms.
It has emerged that at the time of Glitnir’s collapse, the 15 biggest creditors were all connected to FL Group, its largest shareholder, which was controlled by Jon Asgeir Johannesson, the boss of collapsed Icelandic retail group Baugur.
Meanwhile, allegations of market manipulation in Icelandic companies have ensnared British entrepreneurs such as Kevin Stanford, the boss of the All Saints fashion chain, and the property and mining tycoons Moises and Mendi Gertner.
Stanford said he had not been contacted by investigators about the Icelandic collapse. A Gertner spokesman said loan deals offering to buy shares in Kaupthing were pushed as part of broader dealings with the bank.
“There was an understanding that if these shares were taken up then they would be in a beneficial position to secure funding from Kaup-thing in the future,” he said.
Source: Times Online
on Thursday, December 14, 2006
By Cihan News Agency
Thursday, December 14, 2006
The United States has started a new, wide-scale initiative to kill off the financial resources of the Kurdistan Workers’ Party (PKK) in Europe.
U.S. Principal Deputy Coordinator for Counterterrorism Frank Urbancic said that definite progress was made on the issue during his recent visits to Europe.
In an interview with the Turkish channel NTV, Urbancic stated that the new initiative started against the outlawed PKK and his European visits together with other top U.S. officials were all aimed at bringing PKK terrorism under control.
The talks with Europe, said Urbancic, would continue next year as well.
Urbancic compared the PKK to an octopus and pointed out that terrorism was not the only arm of the organization; a money laundering arm, racketeering arm and drug dealing arm were all issues being targeted by the United States.
”We believe that the PKK should be terminated and lay down its weapons. We are not interested in issues such as communicating with the PKK, cease-fire or negotiations” noted the high-ranking U.S. official.
Urbancic also underlined that that the PKK should not be allowed to conduct propaganda in any countries, implying Denmark, known as a supporter of pro-PKK Roj TV.
http://www.zaman.com/?bl=hotnews&alt=&trh=20061214&hn=39186
Thursday, December 14, 2006
The United States has started a new, wide-scale initiative to kill off the financial resources of the Kurdistan Workers’ Party (PKK) in Europe.
U.S. Principal Deputy Coordinator for Counterterrorism Frank Urbancic said that definite progress was made on the issue during his recent visits to Europe.
In an interview with the Turkish channel NTV, Urbancic stated that the new initiative started against the outlawed PKK and his European visits together with other top U.S. officials were all aimed at bringing PKK terrorism under control.
The talks with Europe, said Urbancic, would continue next year as well.
Urbancic compared the PKK to an octopus and pointed out that terrorism was not the only arm of the organization; a money laundering arm, racketeering arm and drug dealing arm were all issues being targeted by the United States.
”We believe that the PKK should be terminated and lay down its weapons. We are not interested in issues such as communicating with the PKK, cease-fire or negotiations” noted the high-ranking U.S. official.
Urbancic also underlined that that the PKK should not be allowed to conduct propaganda in any countries, implying Denmark, known as a supporter of pro-PKK Roj TV.
http://www.zaman.com/?bl=hotnews&alt=&trh=20061214&hn=39186
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