According to the report “International Experiences in Criminalizing Money Laundering from Corruption” by the Ministry of Justice, unlawful enrichment is defined as a significant increase in the assets of public officials that cannot be clearly explained by legitimate income. This is a serious issue in the global fight against corruption.
The Ministry of Justice highlights the role of legal regulations in preventing corruption (Photo: BTP).
Unlawful Enrichment – A Form of Corruption
The United Nations Convention Against Corruption (UNCAC) has identified unlawful enrichment as a form of corruption that needs to be criminalized. Research shows that unlawful enrichment is often linked with organized crime and corruption, causing severe impacts on the economy and society.
To address this issue, many countries have enacted specific legal provisions to handle unlawful enrichment. In Vietnam, experts from the Ministry of Justice emphasize the need for breakthrough solutions to align with international standards.
Necessary Conditions for Addressing Unlawful Enrichment
To build an effective legal framework, it is essential to improve systems for asset registration, transactions, confiscation, and income control. Additionally, promoting cashless payments is crucial. Citizens must enhance their awareness of compliance with legal regulations, especially regarding asset declarations and minimizing cash usage.
The Issue of Cryptocurrency and Money Laundering Risks
Another notable point in the study is the lack of legal frameworks for managing cryptocurrency in Vietnam. Currently, cryptocurrencies like Bitcoin, Ethereum, or Tether are becoming increasingly popular, but there are no specific regulations defining whether they are considered assets under civil law.
Bitcoin is one of the most popular digital assets today (Illustration: Fortune).
This situation creates significant loopholes in managing and preventing money laundering through cryptocurrency. The research team asserts that establishing legal frameworks to regulate activities related to cryptocurrency is urgently needed.
Asset Recovery Without Conviction
To enhance effectiveness in recovering corrupt assets, the study recommends implementing the “asset recovery without conviction” mechanism. This approach has been successfully adopted by many countries.
A key advantage of this method is the ability to confiscate assets even when the perpetrator has not been or will not be convicted. Courts will examine compelling evidence about the illegal origins of the assets. If the owner cannot prove a legitimate source, the assets will be confiscated.
Comprehensive Solution Recommendations
Additionally, the research team suggests increasing the responsibility of financial institutions and banks in detecting suspicious transactions. Establishing special task forces including representatives from investigative agencies, the State Bank, tax authorities, and customs will help more effectively handle cases related to money laundering and corruption.
Conclusion
Unlawful enrichment and money laundering through cryptocurrency pose significant challenges to anti-corruption efforts in Vietnam. To tackle these issues, breakthrough steps are needed to完善法律体系和提高公众意识。让我们共同努力，建设一个更加透明和公正的社会。
Source: Dan Tri
