The conclusion of the cold war and the subsequent easing of tension among countries brought a new world order veering toward global cooperation in terms of politics, economy and other fields. This, coupled with the rapid advancement in technology, is leading to the ?shrinking world? characterized by rapid mobility of persons, money, information, ideas and commodities. The international community, therefore, considers these developments as the key to world peace and stability. However, barely had the world savored the respite from tension when a new unforeseen threat to the security of nations emerged ? the phenomenon of transnational crime.