Article 1. Scope of regulation This Decree provides for mechanisms and measures to prevent and combat money laundering in Vietnam in monetary or other property transactions; responsibilities of individuals, agencies and organizations for preventing and combating money laundering; and international cooperation in the prevention and combat of money laundering.
The Decree contains 6 Chapters and 26 Articles, covering the following:
- Scope of regulation
- Subjects of application
- Interpretations of terms
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Principles of prevention and combat of money laundering
- Responsibilities for participating in the prevention and combat of money laundering
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Individuals and organizations responsible for preventing and combating money laundering
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General preventive measures
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Client identification
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Value levels of transactions subject to reporting according to regulations
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Suspicious transactions
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Provisional measures to be applied to preventing and combating money laundering
- Forms and contents of reporting and supply of information
- Processing of information
- The anti-money laundering information center
- Responsibilities of the Vietnam State Bank
- Responsibilities of the Public Security Ministry
- Responsibilities of ministries, ministerial-level agencies and Government-attached agencies
- Responsibilities of ministerial inspectorates
- Responsibilities of People’s Committees at all levels
- Responsibilities of state agencies for international cooperation in the prevention and combat of money laundering
- Forms and contents of requests for international cooperation in the prevention and combat of money laundering
- Refusal of judicial assistance requests
- Commendation
- Handing of violations
- Complaints, denunciations
- Implementation effect
- Implementation responsibilities
Decree No.74-2005-ND-CP on Prevention and Combat of Money-laundering (full text in English, PDF)
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