Asian governments need to better monitor for illegal logging operations that may be used to launder money, according to a report by a regional financial crime watchdog. The Asia/Pacific Group on Money Laundering (APG) issued the warning on July 11 as part of a paper highlighting trends in disguising dirty money. The Bangkok-based group said that illegal logging, which earns $15 billion annually, is linked to bank fraud, organized crime, bribery and corruption. The crime and money laundering are "closely connected" but the political will to address the problem is weak because illegal logging often involves the corrupt politicians and...
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