Pubdate: Wed, 26 Feb 2003
Source: Associated Press (Wire)
Copyright: 2003 Associated Press


YANGON, Myanmar (AP) -- An international drug watchdog on Wednesday 
welcomed Myanmar's enactment of an anti-money laundering law but urged its 
government to implement the legislation without delay.

In its annual report for 2002, the Vienna, Austria-based International 
Narcotic Control Board acknowledged that Myanmar had made progress in 
fighting money-laundering but remains on a list of countries considered to 
be "uncooperative in efforts to counter" the practice.

Myanmar enacted an anti-money laundering law in June giving authorities 
wide-ranging powers to investigate and seize assets acquired by criminal 
means and impose jail terms of at least 10 years for laundering money from 
narcotics trafficking.

The report said the INCB "encourages Myanmar to implement the new 
legislation against money laundering without delay." It said that Myanmar 
remains on a list of countries judged to have "serious and systemic 
weaknesses" in their anti-money laundering programs.

The list -- published by the Financial Action Task Force on Money 
Laundering, an intergovernmental body that develops and promotes policies 
to combat money laundering -- also includes the Philippines, Indonesia, the 
Cook Islands, Egypt, Guatemala, Nauru, Nigeria, St. Vincent and the 
Grenadines and Ukraine.
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