On 16 December 2015, the Anti-Money Laundering Intelligence Unit (“AMLIU”) under the Bank of the Lao PDR and the Korea Financial Intelligence Unit (“KOFIU”) signed a memorandum of understanding with regards to anti-money laundering and combatting the financing of terrorism (“AML/CFT”). Members of the Asia-Pacific Group on Money Laundering (“APG”), such as Laos and South Korea, are required to execute the forty recommendations provided by the Financial Action Task Force (“FATF”) with regards to global AML/CFT standards. Upon the first evaluation of Laos by the APG in 2010, Laos was placed on the FATF’s Grey List due to deficiencies in AML/CFT. Earlier this year in October at the FATF plenary meeting, Laos was demoted to being on the Dark Grey List due to its tardiness in addressing regulatory concerns. This article has originally been published by Vientiane Times: http://www.vientianetimes.org.la/FreeContent/FreeConten_Laos_south.htm
Frederick Burke is a member of Baker McKenzie’s Global Policy Committee, comprised of the Firm’s Managing Partners globally, responsible for driving the overall strategy of the Firm. He is also the Managing Partner of our Baker McKenzie offices in Vietnam, more particularly in Hanoi and Ho Chi Minh City. He has more than 30 years’ experience practicing in the areas of corporate law, real estate, international trade and is highly regarded for his work on foreign investment projects in Vietnam and China for key players in property development, trade, IT/C, and project finance, among other areas. Mr. Burke is the go-to advisor for big deals in Vietnam’s flourishing industries including: renewable energy, agribusiness, airlines, hotels, resorts and tourism and large scale infrastructure projects. He is currently the representative of the American Chamber of Commerce in Vietnam to the Prime Minister’s Advisory Council on Administrative Reform in Vietnam and he has been recognized by the Ministry of Justice of Vietnam for his “Outstanding contributions in the field of international legal cooperation”. Mr. Burke is consistently ranked as a Leading Lawyer in Corporate / M&A by leading legal publications in Vietnam (Legal 500 AP 2007-2018; Chambers and Partners AP 2012-2018; IFLR1000 2010-2018).