Money Laundering: Threats and Counter Measures
7 May 2001 (4:00 p.m.-6:00 p.m.)

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Threat to the National and Global Financial System

Money laundering activities have one common characteristic: funds move from a country with an effective framework for countering money laundering to a country without it. With rapid development of cross border, on-line transactions, money quickly moves from one to another country. It poses a serious threat to a nation's financial system and to the integrated global financial system.

Are countries in the Asia Pacific region easy targets for money laundering? What are the implications of money laundering on their financial systems?

Counter Measures

The Financial Action Task Force established in 1989 has accelerated efforts to counter money laundering at the global, regional, and national levels. In the Asia Pacific region, the Asia Pacific Group on Money Laundering established in 1997 enhanced the adoption and implementation of the international standards.

However, given the rapid pace of change, it is not easy to keep up with latest criminal trends and to develop and maintain effective financial and legal frameworks to reduce the flow of illegal funds. And the cross-border nature of money laundering makes international cooperation critical.

Discussion Topics

• vulnerabilities of the Asia and Pacific countries to money laundering
• wider threat that money laundering poses to governance
• counter-measures that countries can take individually and collectively
• benefits and challenges of a strong anti-money laundering regime.

Contact Us

For further information, contact Mr. Motoo Noguchi, ADB, Manila, tel: (63-2) 632-5759, fax: (63-2) 636-2501, e-mail: mnoguchi@adb.org.