Definition

Money laundering is a conversion, use, movement, exchange, acquisition, possession, and genuine ownership transferof funds or other properties by a natural person, legal person or an organisation that knows, knew or suspects that such funds or properties are derived from the predicate offences to conceal or disguise their characteristics, origin, and location in order to make such funds or properties legitimate.

Anti-money laundering

The anti-money laundering is an action of natural person, legal persons and organisations with direct duties on knowing your customers, combating, preventing, curbing, and eliminating money laundering as defined in article 2 of the law, in which the offence is a threat to the national security, and causes damages to the national socio-economic foundation.

Acts of money laundering

Acts of money laundering are as follow:

1. Conversion and transfer of funds or properties with an intention to conceal or disguise the proceeds of crime, aid and abet offenders of predicate crimes to avoid the legal consequences;

2. Concealing or disguise origin and location of funds or propertiesm possession, movement, or ownship transfer of such funds or properties in question;

3. Acquisition, possession, use of funds or properties derived from predicate offences such as illicit lending of such funds or properties, use of such funds or properties in a direct investment;

4. Being an accomplice in planning, attempting to or aiding, encouraging, facilitating or giving advices on offences as defined in subparagraph 1, 2 and 3 above.

In addition to the above, money laundering is demonstrated as follow:

1. Acknowledgement with intent with regards to offences leading to a money laundering;

2. An event or evidence that proves the funds or properties are devired from the predicate offences without the neccessity for a court ruling.

A prosecution is to be carried out against offenders on the grounds of money laundering, and offenders of predicate offences.

Definition

The financing of terrorism is anintentional act both directly and indirectly bya natural person, legal person or an organisation that attemptsto give, consolidate and mobilize funds or properties, legally or illegally, wholly or partially, to finance terrorism or terrorist or activities linked to a specific terrorism act regardless such funds or properties are used to finance the actual action.

Counter-financing of terrorism

The counter-financing of terrorism is an action of natural persons, legal persons and organisations with direct .

Acts of terrorism

Acts of terrorism are an event in which natural persons, group of people, organisation or terrorist organisation wihtin or outside of the Lao PDR receive finances to conduct an act of terrorism, with the details as follow:

1. Acts that effect the national security, socio-economic foundation, foreign and international organisations, cause difficulties to international relations of the Lao PDR or chaos to people in the society;

2. Acts that effect lives, health, freedom or deemed as a physical and psychological coercion and threat;

3. Seizure, damaging properties, invasion, attack, obstruction, causing damages and chaos to computer communication and Internet systems or digital instrucments of state organisations, legal persons and natural persons;

4. Processing, production; use, packaging, transportation, consolidation, and obtaining of explosives, radioactive substances, toxics, inflammables, and trading of weapons, equipment, vehicles including an offering of advice for certain act with an intention as defined in subparagraph 1, 2 and 3

5. Disseminating, recruiting, encouraging, coercing, threatening, hiring or creating conditions, and aiding an act as defined in subparagraph 1, 2, 3, 4, 7 and 8;

6. Organizing, financing, participating and attempting to participate in the organization, teaching, and training of selected individuals to conduct an act as defined in subparagraph 1, 2, 3, 4, 5, 7 and 8;

7. Acknowledgement of an act with an objective evidence to prove that it is an act of terrorism;

8. Other offences defined as acts of terrorism as per international agreements or treaties that the Lao PDR is a party to.