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.
Just wait, saith the Lord, until I make your enemies your footstool.In that case I should be looking forward to a footstool made of crystal.
Someone had stolen Hoca's donkey. He was hoping to hear some words of comfort from his friends, but instead he got an earful of talk like this:
"You should have locked the stable door."
"Didn't you hear anything?"
"You probably didn't tie up the donkey very well."
Hoca listened to them for as long as his patience would allow, and then finally said, "Enough is enough! You're blaming me for all this. In all fairness, was the thief guiltless?!"
As to what Allah may have promised you, well, you can tell us about it if you want to, but we know the devil is deceiving. Probably it was 72 RAISINS, not 72 Virgins, they are going to get for killing themselves in jihad.
Now there's an oxymoron for you.
And they're bakers, candle-stick makers, grocers, car sales people, and all sorts of things. Your point? Other then spewing one biased side of a situation as factual?
Calling a whole nation "invaders, oppressors and butchers" is a racist statement and no different than what Hitler said about the Jews, or other ethnic cleansers have said throughout history. I suggest you watch your words, sir, FreeRepublic does not tolerate such racism.
Their government is responsible for atrocities, oppression and butchery and few if any Turks have had the guts to say anything. If they do, they end up in Turkish prisons.
And you have the effrontery to threaten me? Just try it!
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