Vientiane (Viang chan, Wiang Chan) is the capital and largest city of Laos (Lao People's Democratic Republic), situated on the Mekong River near the border with Thailand.

On 16 December 2015, the Anti-Money Laundering Intelligence Unit (“AMLIU”) under the Bank of the Lao PDR and the Korea Financial Intelligence Unit (“KOFIU”) signed a memorandum of understanding with regards to anti-money laundering and combatting the financing of terrorism (“AML/CFT”). Members of the Asia-Pacific Group on Money Laundering (“APG”), such as Laos and South Korea, are required to execute the forty recommendations provided by the Financial Action Task Force (“FATF”) with regards to global AML/CFT standards. Upon the first evaluation of Laos by the APG in 2010, Laos was placed on the FATF’s Grey List due to deficiencies in AML/CFT. Earlier this year in October at the FATF plenary meeting, Laos was demoted to being on the Dark Grey List due to its tardiness in addressing regulatory concerns. This article has originally been published by Vientiane Times:

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