Money-laundering and drugs
Individual Documents
Description:
"Burmese banks are thriving, even as the country?s economy suffers its worst slump in years.
Their secret, say businessmen in the know, is the nexus of generals and drug lords..."
Maung Maung Oo
Source/publisher:
"The Irrawaddy", Vol. 9, No. 2
Date of publication:
2001-02-00
Date of entry/update:
2003-06-03
Grouping:
Individual Documents
Language:
English
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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?..."
Peter Gutter
Source/publisher:
"Legal Issues on Burma Journal" No. 10 (Burma Lawyers' Council)
Date of publication:
2001-12-00
Date of entry/update:
2003-06-03
Grouping:
Individual Documents
Language:
English
Format :
htm pdf
Size:
45.13 KB 558.64 KB
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