LAOS OFF TO A LATE START TO ESTABLISH ADEQUATE AML CONTROLS
October 1st, 2017
LAOS, or the Lao People’s Democratic Republic (Lao PDR), with its population of just 7 million, is the least developed member of the Association of Southeast Asian Nations (ASEAN) and a communist one-party state where corruption is rampant and transparency scarce.
It has under-regulated casinos along its porous borders and, last - but by no means least - remains part of the so-called Golden Triangle, the border area between Myanmar, Laos and Thailand infamous for the production and trade of illicit drugs on an industrial scale.
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