The government has handled 92 cases under the 2014 Abolishing Money Laundering Law with 10 cases settled with action and punishment and confiscation of over Ks6 billion as State fund, said Vice President Myint Swe at the Anti-Money Laundering and Countering the Financing of Terrorism Forum held in Nay Pyi Taw.
From 2014 to date, 92 money laundering cases were handled—24 brought to trial, 39 underway for charges and 10 settled with action and punishment. A total of Ks6,031 million was confiscated.
The Vice President called for cooperation of government departments, private organizations and public members in preventing and combating inflow of money laundered from illegal drug trade and transnational crimes.
He added that the government has handled 21 cases under the 2002 Control of Illicit Income Law confiscating Ks23,166.38 million for the national treasury.
He stressed the need for imposition of and reduction in illicit drug trade, bribe and corruption, illegal trade in gems and timber and tax evasion as money laundering threat is evident in the National Risk Assessment Report on Money Laundering and Financing of Terrorism.
The Vice President said action plans were adopted after drawing a national-level strategy in accord with the international criteria. Those action plans involve issuing and amending laws, bylaws, regulations, directives, notifications and orders, setting AML/CFT policies, cooperating with domestic and foreign organizations, evaluating dangers of losses for each department, promoting international cooperation, and making preparations where necessary, he added.
