Almotamar.net - The Central Bank of Yemen CBY has embarked on taking a bunch of additional monitoring and preventive measures and arrangements on financial, organisations and private federations aimed at fighting money laundering and financing terror and protection of the banking establishment in Yemen against any dubious financial activities.
A source at the CBY told almotamar.net Tuesday that taking those measures by the CBY comes after suspecting a number of cases concerning money laundering in some banking dealings between a number of financial establishments and foreign sides , indicating that the CBY has lately begun entrusted a number of specialised monitoring committees to make field visits and assess all banking and accountancy procedures of local financial establishments in order to asses extent of their commitment to controls issued by the State Security Council regarding money laundering. In addition the committees are to report to the Central bank by those establishments on any suspected banking dealings pertaining to individuals or entities banned for dealing with them on charges of funding terror or supporting suspicious activities.
According to the source the CBY has made a list of obligatory instructions directed to local banking establishments. These are part of measures for fighting money laundering and financing terror.
The source maintained that the Central Bank forces all banks to create unit for gathering information on money laundering operations and to appoint specialists in them in addition to forcing banks to conduct accurate investigations in all banking operations and dealings.