Hanoi (VNA) – Prime Minister Pham Minh Chinh has signed a decision to issue new regulations on coordination among ministries and agencies in preventing and combating money laundering and terrorist financing.
The regulations, which came into effect on September 9, consist of 12 articles detailing principles, forms, content, and responsibilities in information sharing and cooperation across ministries, ministerial-level agencies, and government bodies. It replaces the earlier decisions issued in 2023 and 2024.
Under the regulations, preventive cooperation focuses on three areas – sharing and providing information, conducting communications, and inspecting and monitoring compliance with anti-money laundering and counter-terrorist financing rules. In combat, ministries and agencies are required to exchange information and report suspicious activities related to money laundering, terrorist financing, and associated crimes.
Coordination may be carried out through official documents, emails, telephone, fax, inter-agency meetings, or joint inspection teams.
The Ministry of Public Security (MPS) will lead national coordination efforts. It is tasked with sharing intelligence on methods and schemes used in money laundering and terrorist financing, as well as results of investigations and prosecutions. Information requested by other agencies must be provided within 60 working days.
The MPS will also collect and provide data as requested by the State Bank of Vietnam (SBV) to meet multilateral evaluation requirements of the Asia/Pacific Group on Money Laundering and other international commitments.
The SBV, for its part, will coordinate with other agencies in anti-money laundering activities. It will supply information about anti-money laundering moves in accordance with existing regulations at the request of ministries, ministry-level agencies, and government bodies within the same 60-day timeframe to serve the verification, investigation, and settlement of suspicious acts.
Other ministries and government agencies must also provide information upon request from the MPS or the SBV.
Regarding coordination in communications, the MPS, the Ministry of National Defence, and the SBV will provide regular or on-demand updates on emerging risks, new money laundering ruses, investigation results, related legal regulations, international recommendations, and responsibilities of ministries, agencies, organisations, and citizens.
The Ministry of Culture, Sports and Tourism is tasked with directing media outlets to conduct awareness raising campaigns. Vietnam Television, Radio the Voice of Vietnam, and the Vietnam News Agency will both disseminate information and counter disinformation related to anti-money laundering and counter-terrorism financing efforts.
For inspection and supervision, seven key ministries and agencies – including the MPS, the Ministry of Justice, the Ministry of Finance, the Ministry of Industry and Trade, the Ministry of Construction, the Ministry of Science and Technology, and the SBV – will lead inter-agency inspection teams to monitor compliance within their sectors. Local-level authorities will also be mobilised to establish inspection teams, ensuring consistent enforcement nationwide./.
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