The Marshall Islands Banking Commissioner, Alfred Alfred, Jr, says the country has shown in its first international evaluation that all the ingredients
for effective anti-money laundering are in place
Eliot Kennedy, executive officer of the Sydney-based Asia/Pacific Group
on Money Laundering, who headed the team that carried out the evaluation says he can't go into specifics of the report, but confirmed Alfred's assessment of the anti-money laundering capabilities of the Marshall Islands.
Alfred Alfred says banks are considered the biggest risk in money laundering, but Marshall Islands banks have an impressive record of cooperation and
action to prevent money laundering.
Two years ago, the Financial Action Task Force removed the Marshall
Islands from its money laundering blacklist following a successful
effort by the country to comply with international requirements to prevent
money laundering.
