Abstract
The fight against money laundering is a special concern of international, regional, and national scale. In recent years, Vietnam is a country that is significantly affected by this type of crime. To combat money laundering need not only to strengthen domestic legislation’s system and professional task forces, but also to enhance international cooperation among multilateral and bilateral agreements between host countries and their counterparts. Using the document analysis combined with legal norm’s analysis, this paper draws the nature of money laundering in Vietnam and also analysis Vietnam’s perspectives to implement their national efforts to curb this crime. The research highlights the significant role of international cooperation in this battle rather than building national improvements. Some recommendations to improve the effectiveness of international cooperation to fight money laundering in general as well as to enhance policing plans of Vietnam’s law enforcement agencies that call for special attentions in the end of the research. Keywords : Money laundering, money laundering prevention, international cooperation, Vietnam DOI : 10.7176/JLPG/96-09 Publication date : April 30th 2020
Highlights
Money laundering is becoming a concern of many countries in the world, it directly affects most countries, causing negative effects on the macro economy in general and the financial sector country
The leading experts in the money laundering’s project of the United Nations on Drugs and Crime (UNODC, 2020) estimates that the average annual amount of money put into the washing cycle accounts for 2-5% of the total income of the world economy, or US$800 billion-US$2 trillion per year
For emerging markets in both low and middleincome countries in the Asia, the opening of the economy and the financial sector will make them targets of money laundering activities, no except for Vietnam (Global Financial Integrity, 2017, 2019)
Summary
Money laundering is becoming a concern of many countries in the world, it directly affects most countries, causing negative effects on the macro economy in general and the financial sector country. For emerging markets in both low and middleincome countries in the Asia, the opening of the economy and the financial sector will make them targets of money laundering activities, no except for Vietnam (Global Financial Integrity, 2017, 2019). This is a matter of a nation and a concern of all humanity and the fight against money laundering is a global mission. Through methods of document research, comparative analysis and legislative regulation in Vietnam, this paper is to focus on assess Vietnam’s approach and implementing to international cooperation to prevent and combat money laundering. One overview of the picture of international cooperation’s efforts to combat money laundering will be introduced firstly as bellow section
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