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Currency Drops Abroad Likely to Prod Criminals to Move Money to U.S. Dollars
By Brian Monroe
printDevaluations of several of the world's top currencies in the past six months, some by nearly 30 percent, are prompting criminals to shift their assets into U.S. dollars, say analysts. Since August, the euro, Russian ruble, British pound, Nigerian naira and South Korean won have all fallen by double digit figures compared to the U.S. dollar, according to currency conversion Web site, www.xe.com. Except for the euro and naira, all have fallen roughly 30 percent for the period, according to the Web site. Those fluctuations, which have prompted capital flight in the jurisdictions, will mean challenges for anti-money laundering (AML)...
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