Int’l seminar on money laundering prevention, control held

An overview of the seminar. (Photo: VNA)

Hanoi (VNA)  - The Institute of State and Law (ISL) under the Ho Chi Minh National Academy of Politics and the American Bar Association held an international seminar on money laundering prevention and control in Hanoi on December 21.

Speaking at the event, ISL Director Assoc. Prof Truong Ho Hai said laundering prevention and control is closely associated with the fight against corruption. In recent years, Vietnam has paid attention to learning from international experience in money laundering prevention and control in order to fine-tune its legal regulations in the field to meet international standards.

He noted that at the Government’s meeting in late November, Prime Minister Pham Minh Chinh had directed completing amendments and supplements to the Law on Money Laundering Prevention and Control next year to submit to the National Assembly, which is one of important steps to strengthen the legal framework for fighting money laundering.

Cao Anh Duc, Deputy Director of Department of Public Prosecution and Supervision over the Investigation of National Security  Crime under the Supreme People’s Procuracy, said from 2013 to September 2020, over 10,000 reports on suspect transactions were discovered and handled. As many as 857 cases were transferred to investigation, taxation and customs agencies for investigation and prosecution.

Participants at the event discussed the situation of money laundering in Vietnam, the US’s experience in combating money laundering in casino and gaming sector, and put forward lessons and recommendations regarding relevant policies in Vietnam./.