The Charge for Money Laundering in Malaysia - A Submission

The Charge for Money Laundering in Malaysia - A Submission By SK Cheong 

Despite the abundance of publications on money laundering as a criminal offence, literature on the "charge" of money laundering remain few. The charge is critical in this case, as it is in every criminal trial. It is the only link between the crime and the perpetrator. No one named in a charge can afford to disregard it or treat it as if it were unimportant. If a charge's accusations are proven, the penalties are severe.

As the title suggests, the focus of this work is on the allegation of money laundering. The first chapter takes readers on a journey back in time with a review of a variety of commercial transactions that led to money laundering. The second chapter is a case study of money laundering criminalization in the United Kingdom. The legal provisions relating to money laundering in Malaysia are outlined in Chapter 3. The constitutional, legislative, and procedural safeguards in criminal cases are discussed in Chapter 4. The process to invoke the Federal Constitution for remedy is encapsulated in Chapter 4. "Challenging the Charge" is the title of Chapter 5. It is an examination of the grounds for challenging a criminal charge. The same principles apply to a money laundering charge. The impact of a money laundering allegation on existing transactions in a commercial setting is discussed in Chapter 6. Finally, the Annexure offers a selection of model legislation dictated by the United Nations and the Commonwealth, allowing readers to witness firsthand how the various multilateral bodies are attempting to criminalise money laundering.

For the benefit of businessmen (and women) and their professional advisors, it is intended that this book will demystify one of the most crucial and complex parts of money laundering.

About the Author: SK Cheong began his work with Arthur Andersen & Co. in the tax section. He went on to work as a credit analyst at Banque Nationale de Paris' offshore banking business. After that, he worked as a country manager for a Caribbean-based trust corporation in Malaysia before joining the Malaysia Bar. SK spent 15 years as a Revenue Law examiner at the Malaysian Institute of Taxation (now the Chartered Tax Institute of Malaysia) and 20 years as an advocate. He regularly appears in civil, commercial, and criminal procedures at all levels of the legal hierarchy.

TABLE OF CONTENTS of The Charge for Money Laundering in Malaysia - A Submission

1. Setting The Scene
 -The evolution of money laundering

2. The Crime of Money Laundering
 -Some lessons from the United Kingdom

3. The Offence of Money Laundering In Malaysia
 -The Key provisions of AMLA 2001

4. Interpreting the Offence of Money Laundering
 -The Federal Constitution, the penal statue and the charge

5. Challenging the Charge for Money Laundering
 -Miscarriage of justice explained

6. Money Laundering and Existing Transactions

7. Epilogue

Annexure 1
 -R v Montila

Annexure 2
 -United Nations Model Anti-Money Laundering Law

Annexure 3
 -United Nations Model Proceeds of Crime Bill

Annexure 4
 -Commonwealth Model Anti-Money Laundering Law

Annexure 5
 -Examples of Suspicious Transactions
  (Monetary Authority of Singapore)

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