Pubdate: Wed, 26 Feb 2003 Source: Associated Press (Wire) Copyright: 2003 Associated Press MYANMAR URGED ON MONEY LAUNDERING LAW 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. - --- MAP posted-by: Jo-D