The growing threat of money laundering to Vietnam: The necessary of intensive countermeasures

Abstract

Purpose

The paper aims to sketch out the scenario of money laundering (ML) in Vietnam and the harm ML may cause to the country.

Design/methodology/approach

This paper first, based on the general concept of ML, scrutinizes actual and potential ML in Vietnam as well as ML threat to Vietnam. The typical cases of predicate offences, which were associated with ML activity, will be provided to illustrate the fact. Then a brief of Vietnam's response to ML will be examined.

Findings

ML has actually occurred since early in Vietnam. The potential for ML in Vietnam is substantial and poses growing harm to Vietnam in both the respects of economy and security. Although Vietnam has the primary legal framework of AML and set out AML countermeasures, the implementation has been hindered by several factors.

Originality/value

This paper would attract the attention of people who are concerned about ML in Vietnam.

Citation

Nguyen Le, C. (2013), "The growing threat of money laundering to Vietnam: The necessary of intensive countermeasures", Journal of Money Laundering Control, Vol. 16 No. 4, pp. 321-332. https://doi.org/10.1108/JMLC-05-2013-0014