Order on Fines and Other Measures for Offenders in Anti-Money Laundering, Counter-Terrorist Financing, and Counter-Proliferation Financing
反洗钱、反恐融资及防扩散融资违法者罚款及其他措施令
ດຳລັດວ່າດ້ວຍ ການປັບໃໝ ແລະ ມາດຕະການອື່ນຕໍ່ຜູ້ລະເມີດກົດໝາຍ ແລະ ລະບຽບການ ກ່ຽວກັບການຕ້ານການຟອກເງິນ ແລະ ການສະໜອງທຶນໃຫ້ແກ່ການກໍ່ການຮ້າຍ ແລະ ການແຜ່ຜາຍອາວຸດທຳລາຍລ້າງຜານ
Articles
Article 1
Article 1. Objective
This Decree stipulates the principles, procedures, and measures relating to the reformation and other actions applicable to natural person who violate laws and regulations relating the anti-money laundering, the countering financing of terrorism, and the financing of proliferation of weapons of mass destruction for the purpose of serving as a basis for the supervisory agencies of reporting entities in implementing the fines measures and enforcing actions against violators in lawful, stringent, and consistent manner throughout the country, in the context of anti-money laundering and the financing of terrorism and the financing of proliferation of weapons of mass destruction in all forms, thereby strengthening the economic and financial system, ensuring its stability, promoting a peaceful and orderly society, and contributing to the protection and development of the nation.
Article 2
Article 2. Fines and other measures
Fines is a financial measure imposed against violators of laws and regulations related to anti-money laundering and countering the financing of terrorism, and the financing of proliferation of weapons of mass destruction. It is not considered a criminal offense, and the amount of the fines is specified in this decree.
Other measures refer to actions taken against violators of laws and regulations related to anti-money laundering and countering the financing of terrorism, and the financing of proliferation of weapons of mass destruction, which are not considered criminal offenses. These measures include warnings, suspension of operations, dissolution and removal from the business registry, suspension of business activities or revocation of business licenses.
Article 3
Article 3. Definitions
The terms used in this Decree shall have the following meanings:
1. Reporting Entities refer to: Commercial banks, microfinance institutions, pawnshops, leasing companies, payment service providers, insurance companies, securities companies, Investment fund management companies, investment funds, virtual asset service providers, real estate businesses, businesses of trading in valuable goods, accounting enterprises, audit enterprises, casino businesses, law firms, lawyers, and others as designated by the National Coordination Committee for Anti-Money Laundering and Combating the Financing of Terrorism;
2. Supervisory agencies for reporting entities refer to: State organizations that have the right and duty to oversee, monitor, and inspect the operations of reporting entities. These include Bank of the Lao PDR, Ministry of Industry and Commerce, Ministry of Finance, Ministry of Justice, Ministry of Agriculture and Environment, Anti-Money Laundering Intelligence Office, Lao Securities Commission Office.
Showing the first 3 of 22 articles. Open the LaoPaniti app for the full trilingual text.
Read the full trilingual text with AI explanation in the LaoPaniti app← LaoPaniti home: AI legal Q&A · contract drafting · Chinese-Lao translation