SUMMIT-LD LAUNDERING 2 LST

"We welcome the progress made by FATF in the fight
against money laundering and terrorists financing and call
upon FATF to issue a public list of high-risk jurisdictions by
February 2010," said the statement said.

"We stand ready to use counter measures against tax
havens from March 2010...," it said, adding, the Financial
Stability Board will report against the non-cooperative
jurisdictions, which remained an area of concern with regards
to money laundering havens for proceeds of corruption.

India has been trying to get information from countries
like Switzerland on the unaccounted money, believed to have
stashed in Swiss banks, known for their secrecy.

"Today we agreed ... to take new steps...while clamping
down on illicit outflows," the statement said.

The problems of illicit outflows into tax havens have
become more pronounced when the world economy is in the midst
of the worst recession since 1930s. PTI