Laos

New Documents

The State Bank of Vietnam announced that it signed a memorandum of understanding with the government of Laos during a recent state visit regarding cooperation in key banking activities for the period of 2019 to 2024.

INTERPOL, Japan and Laos have entered into a project that aims to help border control officials better combat transnational crime and terrorism.

News

Enforcement Actions

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Important Facts

  • The U.S. State Department labels Laos as a major money laundering country. Corruption, drug trafficking, environmental crime, the casino industry, and human trafficking all present significant vulnerabilities for Laos’ anti-money laundering regime. A recently completed national risk assessment identified high-risk areas vulnerable to money laundering and possible terrorist financing, including real estate purchases, gambling supervision and Laos' notoriously porous borders, which enable cross-border transnational criminal activities. In addition, Laos’ cash-based economy and limited law enforcement capacity makes it an attractive environment for criminal networks. High-value commodities including land and luxury vehicles are routinely purchased with cash and the jurisdiction lacks any supervision over online gaming activities. In light of these weaknesses, Laos’ Anti-Money Laundering Intelligence Office (AMLIO) is taking steps to enhance awareness of anti-money laundering and counterterrorist financing requirements, including through a series of regular workshops with reporting entities. The AMLIO reported that three criminal cases of money laundering were successfully prosecuted in 2019.
Source: 2020 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : 1 High :
Largely Compliant : 2 Substantial :
Partially Compliant : 9 Moderate :
Non-Compliant : 35 Low :
Not-Applicable : 2

BASEL i

Rank : 4/141
Score : 7.82/10

TRANSPARENCY INTERNATIONAL i

Rank : 130/180
Score : 29/100

Tax Justice Network i

Rank : N/A
Score : N/A