Abstract

• Terrorism is a global problem of today. Suppression of the financing of terrorism is a core strategy to combat the terrorists and terrorist organizations. This dissertation analyzes the cases to point out that money is the oxygen of terrorism or terrorist organizations and combating the flow of even small amount of money may save lives. In this regard, the International Convention for the Suppression of the Financing of Terrorism (1999) is the most important element in the international legal norms to combat the financing of terrorism. Myanmar has signed this convention on 16, October, 2006. Besides, as a party to twelve international counterterrorism instruments, Myanmar enacted the Counter Terrorism Law, 2014 and the Anti Money Laundering Law, 2014. The Counter Terrorism Law includes the offences provided by twelve international terrorism treaties including the offences of the financing of terrorism as one of these offences. But it has no detailed provisions relating to the procedure of identifying and freezing the terrorist assets, institutional measures such as customer due diligence, record keeping and suspicious transaction of the financial sector to enhance financial transparency, and functions and power of Financial Intelligence Unit (FIU) to operate effectively. The Anti-Money Laundering Law, 2014 provides laundering of money and properties derived from commission of any of offences relating to the terrorism. It does not indicate the financing of terrorism as a separate crime. It cannot cover the financing of terrorism as the nature of money laundering and terrorist financing are slightly different. Therefore, these two Laws are not comprehensive laws to suppress the financing of terrorism. Myanmar should extend the AntiMoney Laundering Law by including the specific terrorist financing offence or adopt the specific Anti-Terrorist Financing Law in line with the international norms and standards to prevent and protect terrorist attacks and the financial system in Myanmar effectively.