Police vow to investigate financial crimes

The police are clamping down on financial crime and money laundering but urged the revenue authorities to provide more information on instances of tax evasion.

A high ranking police official has insisted that the police will follow up on information regarding financial crime and has so far investigated 46 cases of money laundering involving drug and human trafficking.

“We confiscated houses and cars bought with black money as the money came from drugs and human trafficking. The revenue officials need to charge those avoiding tax through money laundering. Our police will take action under the money laundering law, but the revenue offices have not informed us of such cases yet,” said the high ranking officer, who refused to be named.

The Control of Money Laundering Law was enacted in May, 2014 but little action has been taken to halt the growing circulation of black money that is being laundered in construction and many other sectors.

“This money was obtained illegally. In the past, the minister confiscated any money obtained dishonestly. Now the judge seizes the money acquired unlawfully after the court makes a decision,” he added.


NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

 Opportunities from COVID19


Looking for foreign investors to invest in your business in Myanmar