Myanmar has had the Anti-Money Laundering Law since March 14, its bylaws are in their second draft, the Central Committee for Anti-Money Laundering was formed under the Ministry of Home Affairs Minister on August 14 and members of the Financial Investigation Unit have been lecturing bankers of late.

It is no secret that money laundering has woven itself into the fabric of Myanmar's economy, political and social systems. Businesses operate using money obtained from crime: timber smuggling, the narcotic trade, and illegal gem and jade exports, among others. Politicians, Cabinet members, the former junta, armed ethnic groups and police have all been accused of complicity or direct involvement.

International sanctions have been imposed on Myanmar as a result of these crimes. Hopes are high after the United Nations Offices on Drug and Crime (UNODC) and Myanmar signed last week the integrated Country Programme for 2014-2017, to collaborate together to strengthen the rule law and address significant crime and drug issues.

MP Than Maung, a member of Legal Affairs and Special Cases Assessment Commission, says a crackdown on money laundering "is a bit difficult".

Long before the new legislation, there were more than 25 laws that could have been used to rein in the crime, but Myanmar "is mired in corruption", he said.

"Those who have to tackle money laundering face many difficulties. It is impossible to handle at the lower level only," he says. A case of money laundering has to be first detected, and then its trail retraced as its future direction is anticipated, he adds. 

This is an "uphill battle" that "we cannot turn a blind eye to", he says. Countries around the world are keeping a close eye on us, Than Maung added. "I am not satisfied with the current condition. I think there might be perpetrators behind the curtain," he said.

Win Aung, president of the Union of Myanmar Federation of Chambers of Commerce and Industry, said that any members of the federation who "knowingly" accept money derived from criminal activity are breaking the law. He himself, however, remains on the US Treasury Department's Specially Designated Nationals and Blocked Persons list, barring US nationals and businesses from conducting business with him or his companies, including Dagon Timber Limited. 

Police Colonel Kyaw Thein Win, deputy chief of the Financial Investigation Unit, pointed out that "some people and ministers became rich over night".

"We need to deal with this on an extensive scale with a step-by-step method. We need to crack down on money laundering rather than just the individuals," he added. The colonel said that it is difficult for legitimate businesses to compete with those that operate on cash derived from crime. "Such businesses may become bigger and bigger as they can bribe [ministry] directors and director-generals. So we need to crack down on the channels," he said. 

His unit is already investigating a share purchase at Asia Green Development Bank, and investigating five other cases in which profits from the narcotic trade may have been laundered through real estate. 

But those who have benefited from money laundering are among the most powerful in the country. "On the one hand, the public becomes poorer day by day, while the wealthy get richer. The wealth gap is due to the collapse of the overall system. The government says no one is above the law. If so, they should deal with this problem in a systematic way … Then, the law will take effect," he added.

"We have to pray that the Ministry of Home Affairs can deal with this problem," he added.

President Thein Sein has acknowledged that the country is plagued by corruption and that a radical change in the mindset of civil servants is necessary to eliminate it. He has pledged to do all he can to end the culture of bribery during his administration. The cronies, however, seem as friendly to his government as they were to the former junta.