WASHINGTON, Oct 19, 2007 (AFP) - Group of Seven finance leaders on Friday praised the Financial Action Task Force for its role in uncovering alleged money laundering and other illicit finance related to Iran.

'We remain committed to fighting money laundering, terrorist financing and other illicit financing involving similar risks to financial markets, G7 finance ministers and central bankers from the world's seven richest nations said in a statement after a one-day meeting here.

FRANKFURT, Oct 15, 2007 (AFP) - Germany might require lawyers, accountants and other professionals to report financial transactions that could be used to finance terrorist activities and money-laundering, a press report said Monday.

The government may amend six existing laws to extend an obligation to report suspicious transactions to the Federal Criminal Police Office, the Frankfurter Allgemeine Zeitung reported, citing a draft by the Interior Ministry.

Currently only banks and insurers fall under this law.

WASHINGTON, Oct 12, 2007 (AFP) - The United States Friday welcomed action by an international anti-money laundering watchdog urging Iran to close loopholes in its financial system and take steps to limit terrorist financing.

US Treasury Secretary Henry Paulson said he was pleased with the statement earlier Friday by The Financial Action Task Force, which groups 34 countries, calling on the Islamic Republic to take action.

PARIS, Oct 12, 2007 (AFP) - An international anti-money laundering watchdog highlighted on Friday lax Iranian regulation to fight against money laundering and financing terrorism.

The Financial Action Task Force, which groups 34 countries, issued a statement calling on the Islamic Republic to take action.

PARIS, Aug 20, 2007 (AFP) - China has made progress in fighting money laundering, but still has a lot to do, The Financial Action Task Force (FATF), an international anti-corruption body, said on Monday.

'China has made significant progress implementing its anti-money laundering (AML) system. At the same time, it notes that there are still serious deficiencies and very few convictions for money laundering,' the FATF said in a report on China's anti-money laundering measures.