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Cuba enacts new banking law targeting accounts linked to terror, money laundering

Cuba has enacted a law letting authorities freeze bank accounts found to belong to terrorists or entities linked to al-Qaida or the Taliban.

The law says it targets money laundering, terror financing, arms proliferation and other illicit financial dealings. It also aims to bring Cuba in line with international conventions.

The measure was signed by President Raul Castro and published into law Friday in the government's Official Gazette.

It applies to Cuban and foreign banks operating in the country.

It is not known whether Cuba has ever detected any accounts linked to terrorism or money laundering.

Washington lists Cuba as one of a handful of countries it considers state sponsors of terror. Havana chafes at that designation, and says it does everything it can to fight terrorism.