VN takes firm steps against money laundering
The Government has promulgated a National Action Plan on Anti-money
Laundering and Combating Financing of Terrorism for the period from
August 2010-August 2011.
The Government has promulgated a National Action Plan on Anti-money
Laundering and Combating Financing of Terrorism for the period from
August 2010-August 2011.
A decision to this effect coded 1451/QD-TTg was signed on August 12 by Permanent Deputy Prime Minister Nguyen Sinh Hung on behalf of the Prime Minister.
Accordingly, the Steering Committee for Anti-money Laundering was assigned to instruct and coordinate relevant ministries, sectors and agencies to implement the plan. Relevant ministries, sectors and agencies were assigned to study the practical plan and coordinate with the State Bank of Vietnam to carry out their tasks.
Under the national action plan, the Public Security Ministry will issue a circular to give instructions to relevant ministries and sectors to implement the Penal Code’s Article 251 on anti-money laundering.
The Finance Ministry will create a circular with instructions on the implementation of the Government’s Decree on Anti-money laundering in securities, insurance, rewarded games and entertainment.
The Justice Ministry will submit to jurisdiction levels the ratification of the convention on anti-transnational crimes.
The State Bank of Vietnam will check against limitations on regulations relating to high-risk customers and requirements of beneficiaries.
The Ministry of Information and Communications will disseminate information on anti-money laundering and combating the financing of terrorism.
In August 2011, the Justice Ministry will review and make proposals for revising (if necessary) the Penal Code, to be in line with the Article 2 of the international convention on combating financing of terrorism and special recommendations of the Financial Action Task Force (FATF)./.
A decision to this effect coded 1451/QD-TTg was signed on August 12 by Permanent Deputy Prime Minister Nguyen Sinh Hung on behalf of the Prime Minister.
Accordingly, the Steering Committee for Anti-money Laundering was assigned to instruct and coordinate relevant ministries, sectors and agencies to implement the plan. Relevant ministries, sectors and agencies were assigned to study the practical plan and coordinate with the State Bank of Vietnam to carry out their tasks.
Under the national action plan, the Public Security Ministry will issue a circular to give instructions to relevant ministries and sectors to implement the Penal Code’s Article 251 on anti-money laundering.
The Finance Ministry will create a circular with instructions on the implementation of the Government’s Decree on Anti-money laundering in securities, insurance, rewarded games and entertainment.
The Justice Ministry will submit to jurisdiction levels the ratification of the convention on anti-transnational crimes.
The State Bank of Vietnam will check against limitations on regulations relating to high-risk customers and requirements of beneficiaries.
The Ministry of Information and Communications will disseminate information on anti-money laundering and combating the financing of terrorism.
In August 2011, the Justice Ministry will review and make proposals for revising (if necessary) the Penal Code, to be in line with the Article 2 of the international convention on combating financing of terrorism and special recommendations of the Financial Action Task Force (FATF)./.