The Bank of the Lao PDR in Vientiane.(File photo)

BOL uncovers banking corruption with losses of 1.5 billion kip

The Bank of the Lao PDR uncovered 21 cases of corruption among bank staff in 2024, with losses of more than 1.5 billion kip incurred due to underhand dealings.
The cases were reported during the bank’s 2024 Inspection Work Meeting held recently at the Banking Institute in Vientiane.
The total amount lost was estimated at 1,599.09 million kip, of which 137.43 million kip has been recovered.
A further 4,741.22 million kip from past cases was recovered last year, with three more cases resolved.
Acting Governor of the Bank of the Lao PDR, Ms Vatthana Dalaloy, chaired the inspection meeting, which was attended by senior officials and other related parties.
Vice President of the bank’s Party Inspection Committee, Mr Viengsavanh Xaiyavong, said six new cases of corruption were uncovered last year, while 15 new developments were linked to previous cases.
Three officials have been suspended and 167 individuals were disciplined, including 11 staff at the central bank, 37 from the Banque pour le Commerce Exterieur Lao Public, 114 from agriculture promotion bank branches, and five from Nayoby bank branches.
Two cases of corruption were revealed at the central bank, 10 at commercial banks, five at savings banks, and one at the Agricultural Promotion Bank.
The meeting also reviewed inspection work and outlined plans for 2025, including efforts to tighten supervision and ensure that all staff comply with Party and state regulations.
Documents were shared on the Anti-corruption Law and cooperation agreements between the State Inspection Authority and other enforcement agencies.

By Phetphoxay Sengpaseuth
 (Latest Update June 19, 2025)