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Nations to Review Data-Protection Laws in Effort to Halt Terror Funds

By Colby Adams

An intergovernmental watchdog will soon review how nations are contending with legal obstacles to sharing financial intelligence on terrorism as part of a broader effort to clamp down on militant funding. In a statement, Financial Action Task Force (FATF) President Je-Yoon Shin advised an unprecedented gathering of finance ministers and other senior officials from the 15 members of the U.N. Security Council to soften legal and regulatory barriers preventing governments and multinational financial institutions from sharing information on suspicious clients and transactions across national borders. "We know, for example, that different data-protection laws mean that one of our largest sources...

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