The eight month old independent state of South Sudan has criminalised money laundering as part of an ongoing effort to arrest the rampant corruption in the country.
Over one billion US dollars of public money disappeared between 2005 – 2006 alone, the first years of the interim period after formation of the semi-autonomous government by the current ruling former rebels, the Sudan People’s Liberation Movement (SPLM), according to the recent official report by the Auditor General.
Many more billions of dollars are also feared missing or unaccounted for between 2007 – 2011, as this period also witnessed the infamous “grain saga” worth of billions of dollars.
Millions of dollars were also reportedly smuggled in bags across the international borders from South Sudan and vice versa.
On Friday the cabinet introduced the anti-money laundering bill requiring financial and non-financial institutions to identify and report transactions of suspicious nature.
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