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NEW AUSTRALIAN LAWS ENABLE EASIER TRACKING OF TERRORIST FUNDS.
CANBERRA, Nov 1 Asia Pulse - Tracking money used to finance terror activities will be easier after new laws were passed by federal parliament today.
Money laundering is also targeted in the Financial Transaction Reports Amendment Bill 2006.
Attorney-General Philip Ruddock said the legislation came after extensive consultation with the finance industry.
He said there was a need to ensure that terrorists seeking funding for their activities were stopped while making certain the finance industry did not suffer as a result of the legislation.
"That balance is ensuring that businesses are not unreasonably affected by measures that are absolutely essential to deal with terrorism financing," Mr Ruddock told ...
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Source: HighBeam Research, NEW AUSTRALIAN LAWS ENABLE EASIER TRACKING OF TERRORIST FUNDS.