Accordingly, to increase the effectiveness of the combat against money laundering, SBV issued formal Dispatch No.4885/NHNN-TTGSNH on June 12, asking units licensed to trade gold bars to review any suspicious gold-related transactions and then send a report of SBV no later than July 2024.
Credit institutions, branches of foreign banks, and organizations engaged in the business of buying and selling gold bars, and organizations providing intermediary payment services are requested to continue to strictly comply with
- The provisions of the 2022 Anti-Money Laundering (AML) Law;
- Decree No. 19/2023/ND-CP dated April 28, 2023 of the Government detailing a number of articles of the 2022 AML Law;
- Decision No. 11/2023/QD-TTg dated April 27, 2023 of the Prime Minister stipulating the value of large transactions that must be reported;
- Circular No. 09/2023/TT-NHNN dated July 28, 2023 of SBV’s Governor guiding the implementation of a number of articles of the 2022 AML Law;
- and the SBV's instructions in document No. 10064/NHNN-TTGSNH dated December 28, 2023.
SBV demands strict observance of Article 25 (reporting of large-value transactions) and Article 26 (reporting of suspicious transactions) of the 2022 AML Law. Detailed reports must be sent in a timely manner in accordance with those legal documents, attached with related papers.
Credit institutions, gold trading organizations, and payment intermediaries must review and update their reports to the Anti-Money Laundering Department as prescribed by the 2022 AML Law and the instructions in Circular No. 09/2023/TT-NHNN on
- risk evaluation for money laundering, terrorism financing, financing of the proliferation of mass destruction weapons;
- internal anti-money laundering regulations;
- internal audit as prescribed by law;
- information on state officials in charge of anti-money laundering tasks (if any changes).
