On May 30, the State Bank officially announced the Conclusion of the inspection of compliance with policies and laws in gold trading activities at a number of enterprises and banks.
According to the inspection results, companies and banks have basically complied with the provisions of the law in gold trading activities, buying and selling gold bars according to the license issued by the State Bank; implemented the information reporting regime for gold bar buying and selling data; posted gold buying and selling prices according to regulations. At the same time, there have been positive changes in implementing the provisions of the law on anti-money laundering; made documents, invoices and declared basic taxes according to the provisions of the law.
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| Companies and banks have basically complied with legal regulations in gold trading activities. Photo: Khanh An (illustration) |
However, the inspectors also pointed out violations by enterprises in complying with legal policies in gold trading activities, companies and banks that violated the reporting regime on gold bar trading activities; there were signs of providing misleading information about products and goods provided by enterprises to attract customers of other enterprises, related to unfair competition.
For banks, errors in withdrawing from counting and delivering gold, receiving gold and withdrawing from counting, collecting and paying VND with customers, the difference in VND from gold buying and selling transactions on the same day that customers deposit/withdraw cash from customers' VND payment accounts creates conditions for customers to make buying and selling transactions with the same amount of gold bars at the same time when in reality, customers and bank transaction staff do not need to deliver and receive gold and money (only sign the receipt of gold and money), only make money transactions of the difference in gold prices for the purpose of making a profit.
According to the inspection conclusion, companies and banks also violated a number of legal regulations on anti-money laundering, specifically: Issuing internal regulations with incomplete content according to regulations; not reporting large-value transactions that must be reported related to gold trading activities; not conducting internal audits on anti-money laundering according to regulations; not providing training and retraining on anti-money laundering according to regulations; not conducting assessments and not updating the results of money laundering risk assessments; not specifying the frequency of updating customer information; not having regulations on decentralization of responsibility for customer identification...
| The contents of the State Bank's inspection of enterprises and banks are: Inspection of compliance with legal regulations on gold trading activities; Inspection of compliance with legal regulations on anti-money laundering; Inspection of compliance with legal regulations on accounting regime, preparation and use of invoices and documents; on declaration and performance of tax obligations. |
Source: https://congthuong.vn/ngan-hang-nha-nuoc-cong-bo-ket-luan-thanh-tra-hoat-dong-kinh-doanh-vang-390113.html
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