Workshop in Luang Prabang focusing on AML-CFT standards and the APG Mutual Evaluation

The Ministry of Foreign Affairs of Lao PDR, in collaboration with ILSTA, recently conducted a workshop in Luang Prabang focusing on AML-CFT standards and the APG Mutual Evaluation. H.E. Mr. Phoxay Khaykhamphithoune, Deputy Minister of Foreign Affairs, emphasized the crucial importance of combating transnational organized crime, which encompasses money laundering and terrorist financing, during his address. ILSTA experts provided an overview of the Mutual Evaluation undergone by Lao PDR and outlined the path forward.
The workshop facilitated constructive dialogues among various relevant authorities, including the Ministry of Public Security (MoPS), Ministry of Foreign Affairs (MoFA), Bank of Lao PDR (BoL), Ministry of Finance, and experts.
Participants expressed concerns regarding the potential impact of the Mutual Evaluation and the risks of country’s grey listing and acknowledged that there is work to be done to address these deficiencies and improve the country’s standing in AML-CFT compliance