FIVE PACIFIC ISLAND COUNTRIES WARNED ABOUT MONEY LAUNDERING

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PARIS, France (January 18, 2001 – Radio Australia)---Five Pacific Island countries have been warned that they face the possibility of sanctions from the Organization for Economic Cooperation and Development, if they don't tighten controls on money laundering immediately.

The Cook Islands, Nauru, Niue, Palau and Vanuatu have been identified by an OECD report as tax havens for money laundering and other harmful tax practices.

All five countries have denied the allegation.

For additional reports from Radio Australia, go to PACIFIC ISLANDS REPORT News/Information Links: Radio/TV News/Radio Australia.

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