Haven For Crinimals?
Haven For Crinimals? F R Chowdhury: I made a “google search” to see if there is any international instrument specifically against money laundering. I could not find what I was looking for but I found a list of three international treaties that relate to similar things. They are – UN Convention against illicit traffic in Narcotics, Drugs and Psychotropic Substances, 1988; UN Convention against Transitional Organised Crime, 2004; and UN Convention against Corruption, 2004. The word money laundering means a process or system by which wealth accumulated through illegal means may be transformed into legal earning. There is no process by which a crime may be legitimised. Similarly there should be no process to turn black money into white money. Any such process is a crime and those involved are criminals as party to that crime. The acceptance of black money in our social and economic system is against the concept and spirit of all three UN conventions state...