Combating fintech-related money laundering and some suggestions for Vietnam laws

This article contends that the technologically innovative nature of fintech facilitates money laundering, and that in order to combat fintech-related money laundering, the regulatory framework for anti-money laundering should take fintech’s innovative dimension into account. This study employs the innovation trilemma theory of Chris Brummer and Yesha Yadav to evaluate and demonstrate that the current Vietnam Law on Anti-Money Laundering has neglected this dimension and, as a result, creates potential risks for potential crimes. On the basis of this identification, some suggestions are made to strengthen anti-money laundering efforts in Vietnam.