US Helps Vietnam Curb Trafficking, Money Laundering

Experts from the US Treasury Department on Tuesday launched a four-day workshop on combating money laundering in Ho Chi Minh City for Vietnamese border and banking officials from August 25 to 28. The training is provided through the support of the US Agency for International Development’s ASEAN-US Technical Assistance and Training Facility, a program co-funded by the US Department of State to support the Association of Southeast Asian Nations in its goal to build an ASEAN Economic Community by 2015.

 

Thirty Vietnam Customs officers and representatives from the Anti-Money Laundering Information Centre at the State Bank of Vietnam were trained in detecting bulk cash smuggling and trade-based money laundering.

 

According to a survey by the Financial Action Task Force (FATF) in 2006, trade-based money laundering represents "an important channel of criminal activity and an increasingly important money laundering and terrorist financing vulnerability.
K.N