Bill on Laundering Of Funds in Limbo
The much-hyped legislative proposal that will prevent money laundering remains in limbo in the National Assembly as opposition lawmakers demand mechanisms to prevent the ruling camp from using the legislation to crack down on their opponents.
The gist of the opposition Grand National Party's draft legislation is to notify politicians whose bank accounts are traced by law enforcement authorities before investigation of charges of misappropriating funds.
An official at the National Assembly's secretariat said that many lawmakers marched out of the chamber Friday as soon as the floor leaders of three major political parties had agreed on including political funds in the proposed legislation. Regardless of party affiliations, lawmakers appear to be against unconditional tracing of money flow, he added.
with the Korea JoongAng Daily
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