Uruguay, U.S. to cooperate on fighting money laundering

Uruguay and the United States signed an agreement on Tuesday to cooperate on fighting money laundering and financial crimes.

The agreement includes U.S. training and assistance to the South American country, and exchange of information.

The agreement was signed by Diego Canepa, deputy secretary of the Uruguayan presidency, and Larry McDonald, deputy director of the Technical Assistance of the U.S. Treasury Department.

The agreement is "one more step" for Uruguay towards its goal of fighting money laundering and financial crimes, said Canepa.

He said the deal was not only about technical aid, but also involved permanent exchange of information and improvement of actions in dealing with those crimes, including corruption.

McDonald said money laundering related to drug trafficking and terrorism poses a challenge, which can only "be faced with international cooperation."

Source: Xinhua