HEAVY FLOW OF REMITTANCES TO ARMENIA MAY HINDER EFFORTS TO DETECT FUND TRANSFERS IN SUPPORT OF TERRORISM, U.S. STATE DEPARTMENT BELIEVES
Mediamax Agency, Armenia
May 2 2007
Yerevan, May 2 /Mediamax/. The Financial Monitoring Center (FMC),
a U.S. – supported financial intelligence unit within the Central
Bank of Armenia, received 23 suspicious transaction reports in 2006.
Mediamax reports that this is said in the annual Country Reports on
Terrorism released by the U.S. State Department.
"After analyzing the reports, the FMC developed five suspicious
transaction cases; three of the cases were subsequently referred
to the Prosecutor General’s office for further investigation", the
report reads.
It is noted in the document that "the heavy flow of remittances,
however, may hinder efforts to detect fund transfers in support
of terrorism".