Law and Money Laundering in Burma

Description: 

"Money laundering is the most significant economic phenomenon of organized crime. Containing the influence of organized crime requires the elimination of its livelihood, which in Burma is mainly the illicit drug trade. Under the rule of the military junta, Burma has become the world?s biggest producer of heroin and methamphetamines. Burma?s drug lords are now major investors in the country?s economy and have considerable cash reserves at their disposal. In many countries nowadays, tighter banking controls make it difficult for criminals to launder money for use in the legitimate economy. However, banking control in Burma is not very tight, legislation is ineffective, and the military junta is clearly benefiting from the drug trade. The Organization for Economic Cooperation and Development has added Burma to its blacklist of countries deemed uncooperative in fighting money laundering. As a result of this, the Burmese junta is currently in the process of drafting an ?Illicit Proceeds and Property Control Law?..."

Creator/author: 

Peter Gutter

Source/publisher: 

"Legal Issues on Burma Journal" No. 10 (Burma Lawyers' Council)

Date of Publication: 

2001-12-00

Date of entry: 

2003-06-03

Grouping: 

  • Individual Documents

Category: 

Language: 

English

Local URL: 

Format: 

htm pdf

Size: 

45.13 KB 558.64 KB