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G-7 Vows to Screw Down Sanctions on Terrorist Financing
The seven leading industrial countries (G-7) on Saturday pledged to intensify efforts to screw down sanctions against terrorist financing.
"We stand united in our commitment to vigorously track down and intercept the assets of terrorists and to pursue the individuals and countries suspected of financing terrorists," the group's finance ministers and central bank governors said in a communique.
The ministers and governors, who held a crisis meeting here on global economy in the wake of the September 11 terrorist attacks on New York and Washington, applauded efforts by many countries to freeze assets linked to terrorist networks or organizations.
They said the Financial Action Task Force, which the industrialized countries set up primarily to coordinate efforts against money laundering, would meet in Washington on October 29- 30 to work out a better strategy to freeze terrorist financing.
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