US commends Nauru on anti money laundering efforts
Updated
The United States Treasury's Financial Crimes Enforcement Network has given Nauru a tick of approval for its reforms to prevent the island nation being used for money laundering purposes.
FinCEN has recognised the Nauru Government's determination to close any gaps that might be exploited by prospective money laundering individuals or organisations.
Nauru's Minister for Justice, Mathew Batsiua, says FinCEN's recognition shows the nation is on track in its efforts to stabilise the financial situation and boost economic potential in the medium to long term future
He says the country's resumption of phosphate mining two years ago, combined with the more recent coral rock processing and exporting operations, are now starting to take hold and will put Nauru on a much stronger footing
