Evaluation Of The Namibian Legal Framework On Money Laundering And Associated Offences

ABSTRACT

The Money laundering offence was identified as such in the late part of the 20th century in the United States of America. Since this period, it has been a crime that has received immense attention for various reasons. This study aims to illustrate that, although the crime has received so much attention over the years, there still exists some areas on the subject matter that still require further research. In this study it is demonstrated that the concept of money laundering is not properly defined. This is exemplified by the different jurisdictions that have been analysed herein, namely; the United States of America, United Kingdom, South Africa, Singapore and Namibia respectively. Furthermore, it is found that diverse authors fail to question the unclear areas that exist within the conceptual framework of money laundering. Similarly, international treaties of the United Nations are no exception to this analysis. The study further discusses the relationship between money laundering and its associated offences and clearly illustrates that it is a crime that does not operate in isolation from other associated offences, and as such this connection needs to be understood by all concerned stakeholders in the fight against it. This is important in order to effectively and progressively combat the crime of money laundering vis-à-vis its associated offences.