The rising concern over international economic crime derives from criminal activities that have been taking advantage of innovations and regulatory gaps in the financial and economic sector. In the case of ASEAN, international economic crime generates wider ramifications beyond financial and economic loss across the region. Transnational crime has also become increasingly pervasive, diversified and organised as an impact of globalisation, the advancement of technology and greater mobility of people and resources across national borders. In light of this development, money laundering has emerged as a new form of organised crime that transcends national borders. ASEAN recognises the increasing linkages between international economic crime and money laundering as well as between these two issues with other forms of transnational organised crime, such as cybercrime, money laundering, illicit drug trafficking, illicit trafficking of wildlife and timber, trafficking in persons, arms smuggling and terrorism.