Laos

New Documents

State Bank of Vietnam, Central Bank of Laos Sign MoU on Banking Cooperation

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.

October 8, 2019

Interpol: Laos, Japan Launch Project to Combat Crime, Terrorism

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

November 14, 2018

Brunei, Laos Sign AML/CTF Memorandum of Understanding

August 1, 2018

SBV Meets with Bank of Lao PDR Representatives for AML/CTF Discussions

March 6, 2014

State Bank of Vietnam Deputy Governor Meets with Delegate from Laos About AML/CTF Efforts

January 3, 2014

News

Midweek Roundup: U.S. Mulls Scrapping HSBC Deal, Maldivian Officials Linked to Laundering Scheme, and More

Mexico’s Supreme Court overturned two state anti-corruption laws, former French minister Jerome Cahuzac appeared in court to face allegations of tax fraud and money laundering, and more, in the midweek roundup.

September 7, 2016

Weekly Roundup: Governments Advocate Syrian Sanctions, FCPA Enforcement Actions Rise Sharply, and More

The Egyptian government may use an old anti-corruption law to prosecute its former leader Hosni Mubarak, Bangladesh is in the process of reforming its AML and tax enforcement laws, and more, in this week’s roundup.

August 19, 2011

Enforcement Actions

0 Items Found

Key Documents

Laos Requires Financial Institutions to Report AML Suspicions

March 27, 2006

Laos Establishes Responsibilities of FIU

May 14, 2007

Important Facts

  • The U.S. State Department labels Laos as a major money laundering country. The country possesses a cash-based economy with limited legal, regulatory, and law enforcement capacity that make it vulnerable to criminal networks. High-value purchases, including land, real estate, and luxury vehicles are routinely made with cash. Corruption, drug trafficking, environmental crime, the casino industry, and human trafficking all present significant vulnerabilities, though corruption was not listed as significant threat in the country's 2018 national risk assessment. Although gaming is illegal for Lao nationals, casinos in special economic zones serve foreigners. These gaming zones lack supervision; however, Laos is drafting a decree on casino and gaming operations to provide for supervision of casinos and gaming. Laos’ Anti-Money Laundering Intelligence Office is taking steps to enhance awareness of anti-money laundering and counterterrorist financing requirements. Nevertheless, deficiencies such as lacking agreements for international cooperation, lacking anti-proliferation financing laws, and  limited asset forfeiture options remain.
Source: 2021 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 : 134/179
Score : 29/100

Tax Justice Network i

Rank : N/A
Score : N/A