Money laundering in Vietnam: Legal responses and enforcement gaps

Tran Thu Hanh; Tran Thi Tuyet Nhung; Nguyen Hung

doi:10.31893/multiscience.2026573

Keywords:

legal framework

financial crime

enforcement challenges

financial transactions

anti-money laundering

Abstract

Money laundering is a serious and increasingly complex crime that poses substantial threats to the economic stability, political integrity, and social order of countries worldwide, including Vietnam. In the context of Vietnam’s deepening integration into the global economy, rapid technological development, digitalization of financial services, and the growing sophistication of financial transactions have created favorable conditions for money laundering activities to expand in both scale and complexity. These illicit practices are not only increasing in frequency but are also becoming more technologically advanced and difficult to detect, presenting significant challenges for law enforcement and regulatory authorities. This paper provides an in-depth analysis of money laundering as a criminal phenomenon in Vietnam, with a particular focus on the current legal framework governing anti-money laundering and the practical difficulties encountered in its implementation. The study employs a qualitative research methodology, combining doctrinal legal analysis, critical review of relevant legal documents, and comparative assessment of international standards and best practices in anti-money laundering regulation. Through an examination of Vietnamese laws, regulatory mechanisms, and enforcement practices, the paper identifies persistent shortcomings in practical application, including weak enforcement capacity, limited coordination among relevant agencies, insufficient professional expertise, and the rapid adaptation of laundering techniques by criminal networks. Although Vietnam has made notable efforts to align its anti-money laundering regime with international norms, especially those promoted by global financial and regulatory institutions, several gaps remain that hinder effective enforcement. By synthesizing legal analysis with comparative insights, this study highlights key areas requiring improvement and proposes strategic measures to strengthen Vietnam’s anti-money laundering capacity. These measures include targeted legal reforms, enhanced institutional capacity building for law enforcement and supervisory authorities, improved interagency cooperation, and more effective financial monitoring and reporting systems. Strengthening Vietnam’s anti-money laundering framework is essential not only for safeguarding national security and financial stability but also for ensuring compliance with international obligations, promoting transparency, and enhancing investor confidence in Vietnam’s financial system.
References
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2. Alldridge, P. (2008). Money Laundering and Globalization. Journal of Law and Society, 35(4), 437–463. https://doi.org/10.1111/j.1467-6478.2008.00446.x
3. Ba, H., & Huynh, T. (2018). Money laundering risk from emerging markets: The case of Vietnam. Journal of Money Laundering Control, 21(3), 385–401. https://doi.org/10.1108/JMLC-09-2017-0050
4. Buchanan, B. (2004). Money laundering—A global obstacle. Research in International Business and Finance, 18(1), 115–127. https://doi.org/10.1016/j.ribaf.2004.02.001
5. Korejo, M. S., Rajamanickam, R., & Md. Said, M. H. (2021). The concept of money laundering: A quest for legal definition. Journal of Money Laundering Control, 24(4), 725–736. https://doi.org/10.1108/JMLC-05-2020-0045
6. Kumar, V. A. (2012). Money laundering: Concept, significance and its impact. European Journal of Business and Management, 4(2), 113–119.
7. Levi, M. (2002). Money Laundering and Its Regulation. The ANNALS of the American Academy of Political and Social Science, 582(1), 181–194. https://doi.org/10.1177/000271620258200113
8. Levi, M., & Reuter, P. (2006). Money Laundering. Crime and Justice, 34(1), 289–375. https://doi.org/10.1086/501508
9. Loan, N. T. (2016). Anti-money laundering through Vietnam Banking system. Ho Chi Minh City Open University Journal of Science, 11(2), 104–116.
10. Nguyen Le, C. (2013). The growing threat of money laundering to Vietnam: The necessary of intensive countermeasures. Journal of Money Laundering Control, 16(4), 321–332. https://doi.org/10.1108/JMLC-05-2013-0014
11. Schneider, F., & Windischbauer, U. (2008). Money laundering: Some facts. European Journal of Law and Economics, 26(3), 387–404. https://doi.org/10.1007/s10657-008-9070-x
12. Teichmann, F. (2020). Recent trends in money laundering. Crime, Law and Social Change, 73(2), 237–247. https://doi.org/10.1007/s10611-019-09859-0
13. Tiwari, M., Ferrill, J., & Allan, D. M. C. (2024). Trade-based money laundering: A systematic literature review. Journal of Accounting Literature, 47(5), 1–26. https://doi.org/10.1108/JAL-11-2022-0111
14. Tiwari, M., Gepp, A., & Kumar, K. (2020). A review of money laundering literature: The state of research in key areas. Pacific Accounting Review, 32(2), 271–303. https://doi.org/10.1108/PAR-06-2019-0065
15. Toan, B. H. (2022). Assessing the Introduction of Anti-Money Laundering Law on Trade Misinvoicing: The Case of Vietnam. The Economics and Finance Letters, 9(2), 291–301.
16. Toan, B. H., & Dung, T. V. (2023). The role of the banking industry in anti-money laundering activities in Vietnam. Journal on Banking Science and Training, 258, 123–134.
17. Tran, H. Q. (2020). International cooperation to combat money laundering in the Southeast Asia: A narrative perspective in Vietnam. Journal of Law, Policy and Globalization, 96, 76.
18. Tran, T. T. H., & Rose, G. (2022). The legal framework for prosecution of money laundering offences in Vietnam. Australian Journal of Asian Law, 22(1), 35–51.
19. Vaithilingam, S., & Nair, M. (2007). Factors affecting money laundering: Lesson for developing countries. Journal of Money Laundering Control, 10(3), 352–366. https://doi.org/10.1108/13685200710763506
20. Walker, J. (1999). How Big is Global Money Laundering?. Journal of Money Laundering Control, 3(1), 25–37. https://doi.org/10.1108/eb027208
21. Wronka, C. (2022). Money laundering through cryptocurrencies—Analysis of the phenomenon and appropriate prevention measures. Journal of Money Laundering Control, 25(1), 79–94. https://doi.org/10.1108/JMLC-02-2021-0017

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to cite

Hanh, T. T., Nhung, T. T. T., & Hung, N. (2026). Money laundering in Vietnam: Legal responses and enforcement gaps. Multidisciplinary Science Journal, 8(9), 2026573. https://doi.org/10.31893/multiscience.2026573

[1] Ahuja, D., Bhardwaj, P., & Madan, P. (2023). Money Laundering: A Bibliometric Review of Three Decades from 1990 to 2021. In P. Tyagi, S. Grima, K. Sood, B. Balamurugan, E. Özen, & T. Eleftherios (Eds.), Contemporary Studies in Economic and Financial Analysis (pp. 55–72). Emerald Publishing Limited. https://doi.org/10.1108/S1569-37592023000110B003

[2] Alldridge, P. (2008). Money Laundering and Globalization. Journal of Law and Society, 35(4), 437–463. https://doi.org/10.1111/j.1467-6478.2008.00446.x

[3] Ba, H., & Huynh, T. (2018). Money laundering risk from emerging markets: The case of Vietnam. Journal of Money Laundering Control, 21(3), 385–401. https://doi.org/10.1108/JMLC-09-2017-0050

[4] Buchanan, B. (2004). Money laundering—A global obstacle. Research in International Business and Finance, 18(1), 115–127. https://doi.org/10.1016/j.ribaf.2004.02.001

[5] Korejo, M. S., Rajamanickam, R., & Md. Said, M. H. (2021). The concept of money laundering: A quest for legal definition. Journal of Money Laundering Control, 24(4), 725–736. https://doi.org/10.1108/JMLC-05-2020-0045

[6] Kumar, V. A. (2012). Money laundering: Concept, significance and its impact. European Journal of Business and Management, 4(2), 113–119.

[7] Levi, M. (2002). Money Laundering and Its Regulation. The ANNALS of the American Academy of Political and Social Science, 582(1), 181–194. https://doi.org/10.1177/000271620258200113

[8] Levi, M., & Reuter, P. (2006). Money Laundering. Crime and Justice, 34(1), 289–375. https://doi.org/10.1086/501508

[9] Loan, N. T. (2016). Anti-money laundering through Vietnam Banking system. Ho Chi Minh City Open University Journal of Science, 11(2), 104–116.

[10] Nguyen Le, C. (2013). The growing threat of money laundering to Vietnam: The necessary of intensive countermeasures. Journal of Money Laundering Control, 16(4), 321–332. https://doi.org/10.1108/JMLC-05-2013-0014

[11] Schneider, F., & Windischbauer, U. (2008). Money laundering: Some facts. European Journal of Law and Economics, 26(3), 387–404. https://doi.org/10.1007/s10657-008-9070-x

[12] Teichmann, F. (2020). Recent trends in money laundering. Crime, Law and Social Change, 73(2), 237–247. https://doi.org/10.1007/s10611-019-09859-0

[13] Tiwari, M., Ferrill, J., & Allan, D. M. C. (2024). Trade-based money laundering: A systematic literature review. Journal of Accounting Literature, 47(5), 1–26. https://doi.org/10.1108/JAL-11-2022-0111

[14] Tiwari, M., Gepp, A., & Kumar, K. (2020). A review of money laundering literature: The state of research in key areas. Pacific Accounting Review, 32(2), 271–303. https://doi.org/10.1108/PAR-06-2019-0065

[15] Toan, B. H. (2022). Assessing the Introduction of Anti-Money Laundering Law on Trade Misinvoicing: The Case of Vietnam. The Economics and Finance Letters, 9(2), 291–301.

[16] Toan, B. H., & Dung, T. V. (2023). The role of the banking industry in anti-money laundering activities in Vietnam. Journal on Banking Science and Training, 258, 123–134.

[17] Tran, H. Q. (2020). International cooperation to combat money laundering in the Southeast Asia: A narrative perspective in Vietnam. Journal of Law, Policy and Globalization, 96, 76.

[18] Tran, T. T. H., & Rose, G. (2022). The legal framework for prosecution of money laundering offences in Vietnam. Australian Journal of Asian Law, 22(1), 35–51.

[19] Vaithilingam, S., & Nair, M. (2007). Factors affecting money laundering: Lesson for developing countries. Journal of Money Laundering Control, 10(3), 352–366. https://doi.org/10.1108/13685200710763506

[20] Walker, J. (1999). How Big is Global Money Laundering?. Journal of Money Laundering Control, 3(1), 25–37. https://doi.org/10.1108/eb027208

[21] Wronka, C. (2022). Money laundering through cryptocurrencies—Analysis of the phenomenon and appropriate prevention measures. Journal of Money Laundering Control, 25(1), 79–94. https://doi.org/10.1108/JMLC-02-2021-0017

Abstract

References

How to cite