YEMEN REMAINS UNSTABLE, LACKING AML CONTROLS AND AWASH WITH TERROR FINANCING
March 1st, 2012
BY PAUL COCHRANE, IN BEIRUT
AS the poorest country in the Middle East, with annual gross national income per capita just exceeding USD1,000, Yemen is plagued with chronic economic problems, corruption, smuggling, links to East African piracy, separatist movements and host to militant groups. While the country has a Financial Information Unit (FIU), enforcement is effectively non-existent and the country faces serious challenges in enforcing the rule of law.
Yemen was one of the last countries in the Middle East to implement anti-money laundering (AML) ...
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