Risk identification, prevention of money laundering and terrorist financing

That was the main content discussed at the Workshop to disseminate regulations and results of national risk assessment on money laundering and terrorist financing, organized by the State Bank in Hanoi on October 16.

Deputy Governor of the State Bank Nguyen Ngoc Canh said that at the meeting of the National Steering Committee on preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction that took place yesterday (October 15), Deputy Prime Minister Ho Duc Phoc, Head of the Steering Committee, requested the State Bank, as the standing agency of the Steering Committee, to strengthen coordination with ministries and branches, and implement three strategic action groups, in which perfecting the legal framework is a pillar.

The Deputy Prime Minister also requested to increase information and propaganda about risks, prevention and combat of money laundering, terrorist financing, financing of proliferation of weapons of mass destruction and the legal framework in this field so that businesses and people can understand, grasp and properly and fully perform their obligations.

At the workshop, Ms. Nguyen Thi Minh Tho - Deputy Director of the Department of Anti-Money Laundering, State Bank presented the amended content in Circular No. 27/2025/TT-NHNN of the State Bank dated September 15, 2025, guiding the implementation of a number of articles of the Law on Anti-Money Laundering and disseminating the content of anti-money laundering in Resolution No. 05/2025/NQ-CP of the Government on piloting the crypto asset market.

With the aim of guiding and removing some of the main difficulties and obstacles of reporting entities during the implementation process, the changed contents include: Criteria and methods for assessing money laundering risks of reporting entities; Process for managing money laundering risks and classifying customers according to the level of money laundering risk; Internal regulations on preventing and combating money laundering; Reporting regime for large value transactions that must be reported; Reporting regime for suspicious transactions; Electronic money transfer transactions; Reporting regime for electronic money transfer transactions; Form and deadline for reporting electronic data; Amendment and supplementation of appendices on forms for reporting risk assessment at organizations, forms for reporting suspicious transactions.

Circular No. 27/2005/TT-NHNN also emphasizes the principle of risk-based management, requiring organizations to update and periodically assess money laundering risks, and develop a process for identifying and verifying customers, including those with no accounts or few transactions. Reporting entities must regularly monitor business relationships, ensuring transactions are consistent with legitimate sources of funds and customer identification records.

Mr. To Tran Hoa, Deputy Head of the Securities Market Development Department, State Securities Commission, presented a number of contents related to anti-money laundering work in the Law on Digital Technology Industry and Resolution No. 05/2025/NQ-CP on piloting the crypto asset market in Vietnam.

Source: https://hanoimoi.vn/nhan-dien-rui-ro-phong-chong-rua-tien-tai-tro-khung-bo-719862.html