Terrorists target Nauru for money-laundering, say experts

Anti-money-laundering experts warned yesterday that international terrorist organisations may be using Nauru to finance their operations.

Rick McDonell, head of the Asia Pacific Group on Money Laundering Secretariat, meeting in Brisbane, said Nauru needed laws to stamp out the possibility of money laundering.

The Russian central bank said last November that US$70 billion ($143 billion) generated by the Russian mafia had been handled by banks in Nauru.