AMMAN -- A three-day workshop on money laundering started on Monday, with the participation of officials from several Arab banks, discussing the impact and size of this problem in the Middle East. 
	
	
 During the workshop, organised by the Union of Arab Banks (UAB), participants will also review legislation Arab countries have introduced to combat this phenomenon as well as the ways and means by which money is laundered. 
	
	
 Participants will also explore the role of banking and financial institutions in combating money laundering and the American and European approaches to fighting this problem. 
	
	
 According to UAB Secretary General Fu'ad Shakir the size of money laundering worldwide ranges from 2 to 5 per cent of the world's gross domestic product, which could run up to $1.5 trillion. 
	
	
 He said that banks, real estate, construction projects, stock markets, investing in losing companies and gambling are among the favourite targets for money launderers. 
	
	
 The source of this money includes drug trafficking, arms deals and prostitution which are the major sources of what has been termed as "dirty money." 
	
	
 The process of money laundering starts with what has been termed as Placement, or injecting the dirty money into the market, followed by Layering, or removing all traces of the money laundered and finally Integration, where the money becomes "clean". 
	
	
 Although interest in this issue started in the 1980's, world attention on money laundering intensified following the Sept. 11 attacks in New York and Washington, Shakir, who was addressing the participants, said. 
	
	
 He said that Arab banks and financial institutions were targeted by the anti-terrorism campaign that followed the attacks. 
	
	
 "Our institutions are far away from this money laundering phenomenon and Arab governments have amended banking laws to combat money laundering," Shakir said. 
	
	
 Jordan was among the Arab countries which introduced measures to fight this problem including tightening banking rules and imposing strict controls on money transfers. 
	
	
 Punishment for money laundering was also introduced, illegal money is confiscated and tough jail terms are given to violators. 
	
	
 Money launderers target countries with low risk of detection, soft tax systems and lenient banking regulations, Shakir said. 
	
	
 He said, according to international agencies which combat this phenomenon, statistically the United States ranks first in term of destination, origin and flows of laundered money. 
	
	
 In Europe, Italy and Russia top the list while China ranks first among Asian countries. 
	
	
 According to Shakir, money laundering in the Arab world is "very minimal" but he said that Lebanon and Egypt are classified by international agencies as among the countries that have not taken necessary measures to combat this problem.