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ARTICLE · 14 JUNE 2001

Money Laundering

Tilleke & Gibbins
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ThailandLitigation, Mediation & Arbitration
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Article by Mr. David Lyman

Written For The ICC’s Standing Committee On Extortion And Bribery "Corporate Practices Manual On Extortion And Bribery"

Why Does A Manual On Corporate Practices For Businesses Devote A Chapter To "Money Laundering"?

Other chapters of this Manual deal with extortion and bribery and how to curtail corruption in public-private and private-private transactions. This chapter addresses how the ill-gotten monies therefrom are disposed of, if not spent promptly. It is called "money laundering". By common usage and statutory definition, money laundering is a crime. Perforce, an examination of money laundering extends beyond extortion and bribery into the realms of narcotics trafficking, frauds, tax evasion and other serious crimes, domestic and transnational.

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