Regulatory Alerts2025-09-04
Added · Updated
Decree on Withholding, Seizing or Freezing Funds related to Terrorists and Financing of Terrorism
The Government of the Lao People’s Democratic Republic establishes procedures for reporting entities and postal enterprises to withhold, suspend, or freeze funds associated with designated persons on the UN Sanctions List or Domestic Designation List. The Ministry of Public Security must issue seizure or freezing orders without delay and complete verification of suspected assets within thirty days, extendable to sixty or ninety days for complex or international cases. The decree outlines exemptions for basic and extraordinary expenses, requires the Ministry of Foreign Affairs to coordinate with the UN Security Council for delisting requests, and mandates that updated sanctions lists be communicated to relevant parties within twenty-four hours of approval.