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Posted on 03/02/2002 10:10:12 PM PST by pkpjamestown
"trnc"
(Cyprus has been divided since the Turkish military intervention of 1974, following a coup d’etat directed from Greece. Since then, the southern part of the country has been under the control of the Government of the Republic of Cyprus. The northern part is controlled by a Turkish Cypriot administration that in 1983 proclaimed itself the "Turkish Republic of Northern Cyprus." The U.S. government recognizes only the Government of the Republic of Cyprus.)
It is more difficult to evaluate anti-money laundering efforts in the "Turkish Republic of Northern Cyprus" ("TRNC") but there continues to be strong evidence of a growing trade in narcotics with Turkey and Britain, as well as significant money laundering activities.
"TRNC" authorities have enacted a money laundering law for northern Cyprus, which went into effect in November 1999. The main thrust of the law was to reduce the number of cash transactions in the "TRNC" as well as to improve the tracking of any transactions above U.S. $10,000. The law also provides for the creation of an experts committee to advise "TRNC" authorities on combating money laundering as well as for the seizure of assets.
The law is an adjunct to the "TRNC’s" Exchange Control Law of 1997, which requires banks to report to the "central bank" any movement of funds in excess of $100,000. Such reports must include information identifying the person transferring the money, the source of the money, and its destination. The law also proscribes individuals entering or leaving the "TRNC" from transporting more than U.S. $10,000 in currency. Under the new law, banks, non-bank financial institutions, and foreign exchange dealers must report all currency transactions over $20,000 and suspicious transactions in any amount. Banks must follow a know-your-customer policy and require customer identification. Banks must also submit suspicious transactions to a central multi-agency committee that will function as an FIU and have investigative powers.
"TRNC" officials believe that its 24 essentially unregulated casinos are the primary vehicles through which money laundering occurs. There is also an offshore sector, consisting of 40 banks and 12 IBCs. The offshore banks may not conduct business with "TRNC" residents and may not deal in cash. However, these banks are not audited and their records are not publicly available. Reportedly, a new law will restrict the granting of new bank licensees only to those banks already having licensees in an OECD country.
In spite of a growing awareness in the "TRNC" of the danger represented by money laundering, it is clear that "TRNC" regulations fail to provide effective protection against the risk of money laundering. The new law of the "TRNC" provides better banking regulations than were previously in force. The major weakness continues to be the "TRNC’s" many casinos, where a lack of resources and expertise leave that area, for all intended purposes, unregulated, and therefore, especially vulnerable to money laundering abuse.
In September 2001, a Turkish newspaper stated that Osama Bin-Laden used banks in the "TRNC" to launder money, which he then used to purchase munitions and to support his network of spies and training camps. Also in September, an Italian newspaper claimed that Al-Qaeda, through its channels in the "TRNC", supplied Muslims in the Balkans with U.S. $700 million from 1992-1998.
TURKEY OUT OF CYPRUS NOW!
The C.I.A. had to have knowledge of this much money going to help their Al-Qaeda allies in the Balkans.
Al-Qaeda sent their Thank You card to the C.I.A. and the west, post marked 911, air mail delivery.
911 is proof positive that the west allied itself with the wrong side in the balkans.
The Turkish Cypriots should be allowed to decide about their future, without pressure from Turkey, or the Turkish army. Turkey has a lot of problems to deal with, at home. Turkey should deal with her problems, and join the EU sooner than later.
The removal of Turkey from Cyprus WILL happen, sooner rather than later, and it might be a nice little side-bar war while we are gearing up to take on Iraq.
Or, maybe the EU could do it for us just to build up their courage and show them Muslims are not invincible.
PS Turks out of FR.
As for Cyprus, some facts may be found here: US State Department Cyprus Country Report on Human Rights 1997
These ancient ancestral resentments only irritate and have zero historical value. Serious students of history don't delight in bombast, they let the facts speak for themselves. Your posts do not do this.
You are merely assuming I do not know anything and have not thought this through. This illegal little mini-state is a running sore in the world. I am neither Greek nor Turkish, and 75% of my ancestry was in the USA when Washington crossed the Delaware.
There are Armenians and Maronites living in Cyprus too. They are represented in the parliament, and they prosper with the rest of the Cypriots. They are free to speak and publish in their language, and to practice their religion in their own churches.
How is the situation in Turkey, with your minorities? I don't need to tell you, the whole world knows. You are doing a good job advertizing it.
75% of the Turks want to join the EU. Why? Because they had enough! Kemal said the answer is in the west. Why are you facing the ground all the time?
Just wait, saith the Lord, until I make your enemies your footstool.
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