Financial Times FT.com

Watchdog calls for terror funding checks

By Michael Peel in London

Published: June 23 2008 19:17 | Last updated: June 23 2008 19:17

Money flows linked to the proliferation of weapons of mass destruction pose a “real and ongoing threat” to the international financial system, the global anti-money-laundering watchdog has warned.

The report by the inter-governmental Financial Action Task Force says that many countries are failing to do enough to disrupt funding of the arms trade, with vulnerable areas including big trading hubs in Europe, the Middle East and Asia.

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