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Financial Watchdog: Burma Still Not Fighting Money Laundering

Burma is now the lone country on an international financial watchdog's list of nations that do not cooperate in the global fight against money laundering.

Friday, the Financial Action Task Force removed Nigeria from the list, saying it made progress implementing anti-money laundering reforms. It said the West African country has taken steps at the highest levels to fight corruption.

Twenty-three countries were listed in 2001 as non-cooperative. With Nigeria's removal, only military-ruled Burma remains on the list.

Earlier this year, the European Union criticized Burma's efforts to end money laundering, calling them insufficient.

The G-8, the world's seven leading industrial countries and Russia, founded the Financial Action Task Force in 1989. The task force develops policies to help governments fight money laundering and terrorist-financing.

Some information for this report was provided by AFP and AP