Joseph Torbey speaks during a conference in Beirut, Monday, Oct. 27, 2014. (The Daily Star/Hasan Shaaban)
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U.S. officials urged Arab bankers who attended a recent conference in New York to maintain measures to combat money laundering and terrorist funding, saying that the biggest challenge was to dry up the financial resources of ISIS.In a news conference at the headquarters of the Union of Arab Banks in Beirut, the chairman of the World Union of Arab Bankers Joseph Torbey told reporters that that the purpose of the meetings taking place in New York and elsewhere was to work closely with U.S. correspondent banks to prevent terrorist funding. The United States has been pressing Arab Banks to tighten their supervisory measures in order to control suspected money laundering activity and terrorist funding and most notably the financial activities of ISIS.
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