Minister of Finance Santiphab Phomvihane chairs the ministry’s annual inspection meeting on March 18, 2025. - Photo: Vientiane Times/ANN
VIENTIANE: The Ministry of Finance has announced the seizure of more than 12.3 billion kip, US$265,919, and more than 24.8 million baht from 50 accounts as part of an ongoing anti-corruption investigation.
The announcement was made during the 2024 annual inspection review and the 2025 planning meeting of the Party Inspection Committee of the Ministry of Finance, chaired by the Minister of Finance, Santiphab Phomvihane, on Tuesday (March 18).
The Deputy Head of the Party Inspection Committee, Souban Souphida, provided details of the seizures.
The seizure of assets from 50 related accounts was aimed at recovering misappropriated state funds and ensuring accountability.
Souban told the meeting that significant progress was made in prevention and anti-corruption efforts during inspections over the past year.
He said the inspection committee monitored and promoted anti-corruption initiatives in local areas and international customs checkpoints across the country, where violations of relevant sectorial legislation were also identified.
These violations included the import of goods under the guarantee system, mostly by sectors that already hold import permits, he said.
According to Souban, the inspections focused on lessons learned from past investigations to enhance effectiveness.
A key achievement was the ministry’s intensified efforts to prevent and combat corruption, particularly in customs offices nationwide.
Violations were discovered, including abuses in the import of goods under the guarantee system, where authorised importers failed to deliver goods to designated warehouses.
Civil servants implicated in misconduct were demoted or reassigned, and the Ministry of Finance collaborated with the State Inspection Authority (SIA) to investigate and prosecute those involved.
While chairing the meeting, Santiphab emphasised the importance of strengthening supervision and inspection to detect and address violations of the law within the Party-State government.
He urged the Party leadership committees at all levels to decisively and effectively enforce the Party regulations and resolutions and state laws to prevent and combat corruption.
Santiphab also stressed several key points for the Party Inspection Committee to ensure continuous oversight, particularly in financial management, and income and expenditure controls.
In addition, the Party committees must take direct responsibility for monitoring compliance and correcting misconduct.
The Party Inspection Committee should also focus on preventing officials from using their positions for personal gain, and enhancing the inspection system through firm and strategic steps, the Minister said. - Vientiane Times/ANN
