Russia's Coronavirus Cases Near 675,000, Death Toll Passes 10,000    Saudi labs can conduct 53,000 COVID-19 tests daily    NK: No immediate nuclear talks with US    Custodian of the Two Holy Mosques Congratulates President of Algeria on Independence Day    Saudi Press: Saudi Arabia Provides $ 500 Million to Support International Efforts to Combat COVID-19    Weather Forecast For Saturday    Al-Jadaan: SANED support to cover 70% of the most affected Saudis    Arab states, organizations slam Houthis for attacks targeting Saudi Arabia    UAE records 672 new coronavirus cases, 1 death    Preserving heritage means securing the future, says Princess Haifa during UNESCO meet    Municipal Sector's Strategy for Digital Shift, Approved    OIC strongly Condemns Houthi Terrorist Militia Launching of 4 Bobby Trapped Drones towards Saudi Arabia    Prof. Lilac AlSafadi is first woman to head a Saudi co-ed university    The Joint Forces Command of the Coalition to Restore Legitimacy in Yemen: Joint Coalition Forces Intercept and Destroy (4) Bomb-Laden UAVs Launched by the Terrorist, Iran-Backed Hourhi Militia Toward the Kingdom    Arabic gaming boom as Twitch streams surge during COVID-19 lockdown    Leonardo's first virtual exhibition focuses on naval capabilities for ME maritime security    Nahdi Medical Company transforms its financial management with Infor    Saudi leadership congratulates President Trump on US Independence Day    Central London re-enters top 20 most expensive cities in Europe    Veteran Bollywood choreographer Saroj Khan dies aged 71    Bayern Munich Sign Leroy Sane from Manchester City    Russia Reports 6,718 New Coronavirus Infections    Director of Islamic Center in Washington appreciates kingdom's decision on this year's Hajj    Over 25 babies born to coronavirus infected women in Madinah    Sainz reveals COVID-19 health fears as Formula 1 season gets set to start    Custodian of the Two Holy Mosques Issues Order to Extend Government Initiatives to Mitigate Coronavirus Impact on Economic Activities    ‘Football industry will bounce back stronger from COVID-19'    Saudi Payments Measures Helped Saudi Society Adapt to COVID-19    Asharqia Chamber Organizes a Meeting on Single Window Services (Fasah)    Saudi participation in conference of secretaries of members of soccer federations of West Asia    Al Qassimi hospital performs successful surgery on two-month-old baby    Certified Calligraphers Pedigree: New initiative for a comprehensive database    Jeddah school chains 300k+ bottle caps together to set Guinness World Record    Pogacar storms to Slovenian time-trial championships win    Complementary, Alternative Medicine Practicing 1st Manual Version Issued    AFC Commends Positive Steps to Resume Saudi Professional League and its Health Protocol Accuracy    Liverpool lifts Premier League title for first time in 30 years    Diriyah to Host Two Rounds of Formula E Racing next February    Actor Sushant found hanging in his Mumbai residence    Wives detect polygamy: Divorces up 30% in Saudi Arabia    Council of Senior Scholars advises old people to pray at home    Saudi Ithra center launches dialogue sessions with most famous creators in the world    SFDA Implements National Program to Ensure Safety of 10,000 Food Samples    Saudi Surgeon Managed to Remove Kuwaiti Girl's Brain Tumor, as French Physician Declined, in the last Moments    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    Custodian of Two Holy Mosques addresses Citizens and Muslims on the Advent of Holy Month of Ramadan    Ministry of Hajj and Umrah Launches Awareness Message on Sacrifice Day    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





TFTC Capacity building workshop to Counter Iranian Illicit Finance Schemes concluded
Published in Saudi Press Agency on 26 - 03 - 2019

The Terrorist Financing Targeting Center (TFTC), a multilateral effort among the United States, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar, and Oman to counter terrorist financing, convened a regional capacity-building workshop in Riyadh. The workshop focused on Iranian illicit finance schemes and the risks Iran poses to the international financial system. TFTC members presented a series of case studies and discussed best practices and steps their governments have taken or could take to further disrupt the Iranian regime's malign activities.
The case studies included two ballistic missile procurement networks, that used front companies to obfuscate the end user of goods for missile proliferation and a cyber-scheme involving virtual currencies that enabled illicit financial activities.
All of the case studies highlight Iran-related illicit finance and sanctions evasion schemes intended to skirt anti-money laundering and countering the financing of terrorism (AML/CFT) regimes around the world.
TFTC member states also offered expert support on best practices for complying with the United Nations Security Council Resolutions and Financial Action Task Force international standards. For example, they discussed key features of countering weapons of mass destruction proliferation financing, vulnerabilities of general trading companies, how to strengthen financial transparency of the private sector by implementing appropriate customer due diligence and other preventive measures, and the importance of effectively regulating and supervising digital asset financial activities and related digital currency providers for AML/CFT.
The capacity-building workshop is critical to the core TFTC mission, disrupting the flow of illicit funds to terrorists and terrorist organizations.


Clic here to read the story from its source.