This Circular provides for the inspection of compliance with policies and laws on currency, banking, foreign exchange and anti-money laundering (hereinafter referred to as currency and banking) for inspection subjects.
The subject of application is not only for agencies under the State Bank, credit institutions, foreign bank branches with banking activities but also for organizations with foreign exchange activities, gold trading activities; organizations with credit information activities; organizations providing intermediary payment services that are not banks; other organizations and individuals related to the inspection of compliance with policies and laws on currency and banking.
Will conduct surprise inspections of banks, organizations and individuals engaged in monetary and banking activities.
The purpose of the inspection is to review and evaluate information, data, and compliance with monetary and banking policies and laws of the inspected entity to ensure completeness, accuracy, and compliance with monetary and banking laws; enhance the effectiveness and efficiency of state management in the monetary and banking sector. At the same time, detect, prevent, and handle violations of the monetary and banking laws. Propose amendments, supplements, and improvements to mechanisms, policies, and regulations of monetary and banking laws if necessary. Contribute to ensuring the safe and healthy development of the credit institution system and the financial system; protect the legitimate rights and interests of depositors and customers of credit institutions.
Inspections are conducted regularly or suddenly. Ensure that there is no overlap or duplication in content, time, or inspection subjects between inspection activities of inspection units, between inspection activities and inspection activities. Inspection units conduct surprise inspections based on management requirements and actual situations or based on requests, proposals, or feedback from competent state agencies, organizations, individuals, or upon request or direction from the Governor of the State Bank.
This Circular takes effect from February 8.
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