The draft Law amending and supplementing a number of articles of the Law on Anti-Money Laundering supplements regulations on protecting reporters, information providers and denunciators of money laundering acts.
This is a noteworthy amendment, because money laundering is a very special type of crime. Money of illegal origin is often hidden and "washed away" through a series of financial, investment, and business transactions to legalize it in form to become legal money.
In addition to modern technology tools, transaction monitoring systems, investigations, if there is a lack of information provided, reported, and denounced by people who know about the incident, many cases may pass through control layers.
In fact, in many cases, the first person to detect abnormal signs is often not the investigating agency but bank employees, corporate accountants, auditors or people working in financial institutions themselves.
But knowing is one thing, but daring to speak, daring to provide information, report or denounce to functional agencies is another matter.
Many people choose to remain silent because they are afraid of losing their jobs, being isolated, being retaliated against, or facing pressure from those involved. If the law only requires reporting without creating a strong enough "shield" to protect them, silence will become the safest option.
Therefore, the draft law supplementing regulations on applying protection measures to reporters, information providers and denunciators of money laundering is very necessary.
This regulation is also not only aimed at protecting an individual, but also protecting the common interests of society. Because behind a money laundering case, there is often not just one illegal act.
That could be money from corruption, fraud, drug trafficking, smuggling, tax evasion or many other types of crimes. Preventing dirty money also means cutting off the source of nurturing illegal activities.
However, what people are waiting for is that in parallel with the regulations added to the law, there needs to be more specific protection mechanisms. For example, how is the identity of the complainant protected? Who is responsible for protecting it? If they are suppressed and transferred, lose their jobs or be retaliated against, who will intervene? How will those who intentionally disclose their identities or have retaliation be handled?
If those questions do not have clear answers, it is difficult for regulations to create solid trust for whistleblowers, reporters, and information providers to act.
Transparent cash flows are the "blood vessel" for the healthy development of the economy. And to have transparent cash flows, in addition to technology, data and monitoring measures, it is also necessary to build trust so that those who detect violations dare to speak out without fear.
In the fight against money laundering, protecting whistleblowers is also protecting the integrity of the economy.
