Bahamas strikes deal with Australia to fight money laundering

Wednesday, March 3, 2004

SYDNEY, Australia (AFP): Australia said Wednesday it had signed an agreement with the Bahamas to share financial intelligence in a bid to combat money laundering and the financing of terrorism.

Justice and Customs Minister Chris Ellison said the Bahamas was a strategic partner in Australia's fight against the crimes because it provided a key link to the Caribbean "where money laundering has been identified as a concern".

"The ability to share intelligence internationally is vital in the prevention of these serious organised crimes," Ellison said.

"Australia is at the leading edge of the international effort to combat money laundering and the financing of terrorism, and cooperation between countries to attack these activities is a significant contributor to fighting organised crime."

The agreement takes to 26 the number of countries with which Australia has struck deals to share financial intelligence.

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