Laos has slated next March for the second review and evaluation of the implementation of its Anti-money laundering and Combating of the Financing of Terrorism (AML/CFT). This was made known to the public by the Vice Governor of the Bank of the Lao PDR, Phoutthaxay Sivilay in a meeting of Monday, Jan 13. He furthered emphasized government’s effort towards actualizing the implementation of the law including setting up regulations, laws, and coordinating committee.
According to the Minister of Information, Culture and Tourism, Savankhone Razmountry, who was also present at the meeting, government should make awareness program for the public on the issue of money laundering; he also urged the media to be active in providing information on the issue in order to create trust in local finance and investment. All regulations seem to have been made ready for evaluation. After the evaluation, the report will be sent to the Asia/Pacific Group on Money Laundering, who will, in turn, visit Lao or review of its Anti-money laundering processes while FATF will update the status of Lao in July 2021.