The government has reaffirmed its commitment to strengthening anti-money laundering and countering the financing of terrorism (AML/CFT) measures as Laos works to exit the Financial Action Task Force (FATF) grey list. The grey list, officially known as “jurisdictions under increased monitoring”, identifies countries actively working with the FATF to address deficiencies in their anti-money laundering and counter-terrorism financing (AML/CFT) regimes.
Vice Prime Minister Mr Saleumxay said money laundering and terrorist financing are serious transnational crimes linked to drug trafficking, the arms trade, human trafficking, illegal gambling, and corruption. “These crimes threaten political stability, economic development, and national security,” he said. He outlined the government’s key measures to combat these threats, including the establishment of the Anti-Money Laundering Intelligence Office in 2007 and the creation of the National Committee for Anti-Money Laundering in 2014.
He said “Criminal activities that could potentially lead to money laundering, such as drug trafficking, human trafficking, fraud, and other high-risk offences, have become widespread in Laos.