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By Lindsay Thompson

January, 2003

FATF to issue new money laundering report

Intro:
 
The Paris-based Financial Action Task Force plans to issue a report today on money-laundering vulnerabilities and terrorist financing.
 
 
Excerpt: Nevis is among islands still attractive to criminals, said David Marchant, the Miami-based publisher of the newsletter OffshoreAlert. He cites last year's collapse of The Genesis Fund Ltd., which promised investors returns of up to 45 per cent and folded owing some US$50 million.
 
 
 

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