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During a meeting of Finance Ministers from the Group of Seven, the G-7 industrialized nations announced their intention to implement stringent measures against international money laundering. They also stated that they might sever some bank dealings with countries that do not put a stop to illicit money flows. "We have identified the problem, named those responsible, and we are now taking action to combat it," said Laurent Fabius, the French Finance Minister, at the conclusion of the meeting.
Friday, 7 July, 2000