Financial Crime World

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Criminal Proceedings on Money Laundering Continue to Strengthen in Lao PDR

The Lao People’s Democratic Republic has continued to strengthen its efforts against money laundering and financing of terrorism, with a series of workshops, training sessions, and equipment donations aimed at improving the country’s capabilities in combating these crimes.

Improving Capabilities through Workshops and Training

In recent months, the Anti-Money Laundering Intelligence Office (AMLIO) of the Lao PDR held a workshop on “Technique of Disseminating Suspicious Transaction Report (STR) and Cash Transaction Report (CTR) via Online System for Reporting Entities”. This workshop aimed to disseminate manuals and training related to new forms for 42 commercial banks, and was chaired by Mr. Chindamay VILAYHONGS, Deputy Director General of AMLIO.

Strengthening Cooperation with International Organizations

In addition, the U.S. Government handed over technology and equipment to AMLIO on November 1st, including computers, tablets, and printers to improve the office’s IT capabilities and facilitate anti-money laundering and countering financing of terrorism efforts. The project is implemented by the UN Office for Project Services (UNOPS) and supports international training for AMLIO technical staff.

The Lao PDR also strengthened its cooperation with other countries in the region through a study visit to the Cambodian Financial Intelligence Units (CAFIU) in September 2018, aimed at sharing experiences on AML/CTF IT development and meeting international standards. Furthermore, the country hosted a training course on “Upgrading Qualification of National AML/CFT system’s experts” in Moscow, Russia Federation, from August 28-30, 2018.

Key Developments

  • Workshop on “Technique of Disseminating Suspicious Transaction Report (STR) and Cash Transaction Report (CTR) via Online System for Reporting Entities”
  • U.S. Government hands over technology and equipment to AMLIO
  • Study visit to Cambodian Financial Intelligence Units (CAFIU)
  • Training course on “Upgrading Qualification of National AML/CFT system’s experts” in Moscow, Russia Federation
  • Workshop on “Investigative Technique Workshop on Prosecuting Money Laundering and Financing of Terrorism” in Champasack Province
  • 2nd ad-hoc committee meeting on the National Risk Assessment (NRA)
  • Commitment to implementing the APG’s 2019 AML/CFT Action Plan

Conclusion

The Lao PDR has made significant progress in strengthening its efforts against money laundering and financing of terrorism. The country’s commitment to improving its capabilities and cooperation with international organizations demonstrates its determination to combat these crimes effectively.