Money Laundering in Yemeni Law: A Comparative Study

Abstract

This study aims to highlight the concept of money laundering, which is considered one of the most serious financial crimes with negative repercussions on the national economy and society. This is due to its close connection with many forms and patterns of crime. Furthermore, the move to criminalize it through legislation is not merely a national demand but has become an international requirement. Yemen's issuance of a specific law to combat money laundering and the financing of terrorism, as well as its ratification of many relevant international conventions, demonstrates its commitment to combating this crime and mitigating its negative effects. The researcher addressed the topic of this study in four sections. The first section addresses the concept of money laundering, its stages, and how Islamic law considers it. The second section reviews the crime of money laundering in Yemeni law and its relationship to both corruption and the financing of terrorism. The third section is dedicated to the elements of the crime of money laundering, and the fourth section deals with the procedures for investigating and prosecuting money laundering crimes. The study concludes that money laundering is a criminal offense with an economic objective, derived from a separate and legally punishable predicate crime. A conviction for the predicate crime is not a prerequisite for money laundering. The study recommends combating money laundering to ensure the necessary protection of the national economy, as the proliferation of these crimes leads to a decline in the value of the national currency and the spread of crime in all its forms.