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European Finance Ministers Not Satisfied with Burma's Anti-Money Laundering Efforts


The European Union has criticized Burma's efforts to end money laundering, calling them insufficient.

At a meeting between European and Asian finance ministers in Vienna Sunday, a statement was issued urging Burma to do more to halt the practice.

It urged Burma to implement all international treaties and standards covering money laundering. The Asia-Europe Meeting is an annual gathering for delegations from the European Union and 13 East Asian countries.

Burma has been a member since 1995. Burma often is criticized by the West for not having sufficient mechanisms in place to detect or prevent money laundering or the financing of terror activities.

Information for this report is provided by Reuters.

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