Monday, March 06, 2006

Land of laundered money

Drug proceeds nearly half of laundered money

A report released by the Finance Ministry Financial Crimes Research Council (MASAK) showed that the cases it has been involved since its founding in 1997 pointed to YTL 2.33 in laundered money.

According to MASAK, proceeds from drug trafficking were the main source of laundered money, constituting 41 percent of the total. Drugs were followed by smuggling with 16.6 percent, fraud with 13.5 percent and tampering with official documents with 12.1 percent.

Read the whole story on Turkish Daily News

More here: Money, extra laundered in Turkey (Turkish Daily News)

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