State Bank transfers more than 5,000 suspicious transactions to the Ministry of Public Security

(Dan Tri) - The Anti-Money Laundering Department receives thousands of suspicious transaction reports each year. Since 2023, the Department has transferred more than 5,000 suspicious transactions to the Department of Economic Security (Ministry of Public Security).

On November 27, in Hanoi, the Anti-Money Laundering Department (State Bank) and the Economic Security Department ( Ministry of Public Security ) held a conference to sign the Coordination Regulations in handling suspicious transaction information.

Lieutenant General Nguyen Sy Quang - Director of the Department of Economic Security - commented that the world and regional situation continues to develop in a complex and unpredictable manner. Factors such as increasing trade tensions between major powers, potential risks in the financial and monetary markets, energy security and high inflationary pressure have had a significant impact on the Vietnamese economy.

Delving into the field of anti-money laundering, Lieutenant General Nguyen Sy Quang pointed out that the strong development of the digital economy and modern technology has led to the emergence of many new forms of crime with increasingly sophisticated methods.

Criminals often take advantage of cyberspace to gamble, organize illegal online games, trade virtual assets or hide behind charity fundraising activities. In addition, illegal cross-border money transfers, taking advantage of commercial activities and setting up "front" companies to hide illegal sources of money are also taking place in a complicated manner.

Signing ceremony between representatives of the Anti-Money Laundering Department and the Economic Security Department (Photo: SBV).

Faced with that situation, the Director of the Department of Economic Security affirmed that the fight against money laundering is an urgent requirement, requiring high concentration in the current period.

Mr. Pham Tien Phong - Director of the Anti-Money Laundering Department - said that collecting, analyzing and transferring suspicious transaction information is one of the core activities of the Anti-Money Laundering Department.

Since the Law on Anti-Money Laundering was promulgated in 2022, the Anti-Money Laundering Department has received thousands of suspicious transaction reports each year. The number of suspicious transactions has increased by about 30% over the years. Since 2023, the Anti-Money Laundering Department has collected, analyzed and transferred nearly 600 documents related to more than 5,000 suspicious transactions to the Department of Economic Security.

Suspicious transaction information is transferred to the Economic Security Department focusing on predicate crime groups with high/medium-high risk of money laundering according to the National risk assessment results.

These are signs of taking advantage of cyberspace to commit fraud and cheating; transactions related to gambling and betting websites; round-trip money transfers between business groups and individuals to create sales, bank transaction documents with suspicion of tax fraud or appropriation of value-added tax refunds; transactions of organizations/individuals with signs of hiding under the guise of payment for import and export goods to transfer money abroad...

Deputy Governor of the State Bank Nguyen Ngoc Canh highly appreciated the effectiveness of the cooperation between the two units in recent times. He affirmed that this event is not only a milestone to recognize the achievements but also creates an important breakthrough for the work of preventing and combating money laundering in the new context.

Deputy Governor of the State Bank Nguyen Ngoc Canh (Photo: SBV).

The Deputy Governor requested the two sides to urgently realize the commitments in the Coordination Regulations with specific and practical actions. The State Bank leaders also noted the need to establish a mechanism for regular review and assessment to promptly draw lessons and make flexible adjustments in accordance with legal regulations and implementation practices.

He also directed units to increase information exchange to serve the investigation, prosecution and trial of money laundering and related crimes. In particular, units need to focus on promoting parallel investigations of source crimes and money laundering based on suspicious transaction reports transferred by the Anti-Money Laundering Department.

Source: https://dantri.com.vn/kinh-doanh/ngan-hang-nha-nuoc-chuyen-hon-5000-giao-dich-dang-ngo-cho-bo-cong-an-20251127190732730.htm