THE PRIME MINISTER | THE SOCIALIST REPUBLIC OF VIETNAM |
No.: 2112/QD-TTg | Hanoi, November 25, 2014 |
DECISION
INTRODUCING THE NATIONAL ACTION PLAN FOR ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM FOR THE 2015 - 2020 PERIOD
THE PRIME MINISTER
Pursuant to the Law on government organization dated December 25, 2001;
Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;
Pursuant to the Law on anti-money laundering dated June 18, 2012;
Pursuant to the Law on prevention and control of terrorism dated June 12, 2013;
At the request of the Governor of the State Bank of Vietnam at the Official Dispatch No. 165/TTr-NHNN dated November 05, 2014,
HEREBY DECIDES:
Article 1.The national action plan for anti-money laundering and combating the financing of terrorism for the 2015 - 2020 period is issued together with this Decision.
Article 2.This Decision comes into force as from the date on which it is signed.
Article 3.Ministers, heads of ministerial agencies, heads of governmental agencies, and members of Anti-money Laundering Steering Committee shall be responsible for implementing this Decision./.
| PP. PRIME MINISTER |
THE NATIONAL ACTION PLAN
FOR ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM FOR THE 2015 - 2020 PERIOD
(Enclosed with Decision No. 2112/QD-TTg dated November 25, 2014 by the Prime Minister)
I. OBJECTIVES
1. General objectives
- Establish an effective anti-money laundering and combating the financing of terrorism mechanism in Vietnam;
- Fulfill commitments of Vietnam's government to international organizations on establishment of Vietnam’s anti-money laundering and combating the financing of terrorism (AML/CFT) mechanism and discharge obligations of Vietnam as a member of the Asia-Pacific Group on Money Laundering (APG);
- Participate in the action program against organized transnational crime;
- Protect the best interests of Vietnam, organizations and individuals as well as prevent and control of crimes and corruption; strengthen stable operation of financial institutions and stimulate economic growth;
- Declare AML/CFT standpoints and commitments for achieving peace, stabilization, development and international integration objectives; enhance Vietnam’s prestige and position in international community.
2. Specific objectives
- Conform to the law of Vietnam and actual situation of Vietnam;
- Meet international standards for anti-money laundering and combating the financing of terrorism (40 recommendations of the Financial Action Task Force (FATF));
- Satisfy requirements set out by the United Nations and other international organizations to which Vietnam is a member or a signatory or admitted;
- Make preparations for APG’s second round multilateral evaluation of Vietnam's AML/CFT mechanism in 2017.
II. CONTENTS OF THE PLAN
No. | Actions | In-charge authority | Cooperating authorities | Completion time | |||
I | Risk identification and establishment of policies and domestic cooperation mechanism | ||||||
1 | Assess risks faced by Vietnam involving money laundering, terrorism financing and financing of weapons proliferation for every 05 years. | - The State Bank of Vietnam ("SBV") shall take charge of assessment of national money laundering risks. - The Ministry of Public Security shall take charge of assessment of national terrorism financing risks. - The Ministry of National Defence shall take charge of assessment of national risks related the proliferation of weapons. | Ministry of Finance, Ministry of Construction, Ministry of Natural Resources and Environment, Ministry of Industry and Trade, Ministry of Planning and Investment, Ministry of Justice, and Ministry of Home Affairs | Implementation period: 2015 – 2020 | |||
| Establish mechanism for handling of information about national risks in fields. | - SBV shall take charge and request the Government to promulgate the cooperation mechanism for provision of information concerning assessment of money laundering risks. - Ministry of Public Security shall take charge and request the Government to promulgate the cooperation mechanism for provision of information concerning assessment of terrorism financing risks. - Ministry of National Defence shall take charge and request the Government to promulgate the cooperation mechanism for provision of information concerning assessment of financing of weapons proliferation risks. | Ministry of Finance, Ministry of Construction, Ministry of Natural Resources and Environment, Ministry of Industry and Trade, Ministry of Planning and Investment, Ministry of Justice, and Ministry of Home Affairs. |
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| Allocate resources and prevent and manage money laundering risks by adopting risk based approach; instruct reporting entities as regulated in the Law on anti-money laundering in evaluating risks involving money laundering, terrorism financing and financing of weapons proliferation in their operating fields. | SBV, Ministry of Public Security, Ministry of Finance, Ministry of Construction, Ministry of Natural Resources and Environment, Ministry of Industry and Trade, Ministry of Planning and Investment, Ministry of Justice, and Ministry of Home Affairs. Relevant ministries shall organize and instruct the assessment of risks involving money laundering, terrorism financing and financing of weapons proliferation in their managing fields. |
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2 | Strengthen, maintain and organize operation of the Anti-money Laundering Steering Committee (AML Steering Committee) in an effective manner. | AML Steering Committee | Ministries that are members of AML Steering Committee | Regularly | |||
| Establish and implement the mechanism for effective and timely sharing of information about money laundering, terrorism financing and financing of weapons proliferation between regulatory authorities. | SBV | Ministries that are members of AML Steering Committee |
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II | Money laundering and property confiscation | Money laundering and property confiscation | Money laundering and property confiscation | Money laundering and property confiscation | |||
1 | Study and suggest amendments to regulations of the Criminal Code on storing or buying property obtained by crime (Article 250) and money laundering crime (Article 251) when the Criminal Code is amended in 2015 in conformity with relevant international conventions and standards. | Ministry of Justice | Ministry of Public Security, People’s Supreme Procuracy, People’s Supreme Court, SBV, and Ministry of National Defence | December, 2015 | |||
2 | Conduct investigation, prosecution and adjudication of money laundering cases according to Article 250 and Article 251 of the Criminal Code. | Ministry of Public Security, People’s Supreme Procuracy, and People’s Supreme Court | Ministry of Justice | Continuously | |||
| Formulate and promulgate guidelines for investigation, prosecution and adjudication of money laundering and terrorism financing cases. | Ministry of Public Security, People’s Supreme Procuracy, and People’s Supreme Court | Ministry of Justice | December, 2016 | |||
3 | Study and report regulations on criminal liabilities of juridical persons to the Government and National Assembly. | Ministry of Justice | Ministry of Public Security, People’s Supreme Procuracy, People’s Supreme Court, and SBV | December, 2015 | |||
4 | Study and suggest amendments to regulations of the Criminal Procedure Code and relevant legislative documents on confiscation of proceeds and profits earned from illegal property. | People’s Supreme Procuracy | Ministry of Justice, Ministry of Public Security, and People’s Supreme Court | December, 2017 | |||
5 | Do research on the possibility of nonjudicial civil forfeiture action, force criminals to elucidate origin of property, and suggest amendments to the Criminal Code and the Criminal Procedure Code. | Ministry of Justice, and Ministry of Public Security | People’s Supreme Procuracy, People’s Supreme Court | 2015 - 2020 | |||
6 | Include regulations on administrative penalties for AML/CFT-related violations in Decrees on administrative penalties for violations in each field. | SBV, Ministry of Finance, Ministry of Home Affairs, Ministry of Construction, Ministry of Industry and Trade, and Ministry of Planning and Investment. | Ministry of Justice | December, 2017 | |||
7 | Study and request the Government/ National Assembly to promulgate regulations on penalties for financing of weapons proliferation crimes. | Ministry of Justice | Relevant ministries | December, 2015 | |||
III | Terrorism financing and financing of weapons proliferation | Terrorism financing and financing of weapons proliferation | Terrorism financing and financing of weapons proliferation | Terrorism financing and financing of weapons proliferation | |||
1 | Formulate and promulgate legislative documents on management and handling of illegal assets and those relating terrorism or terrorism financing. | Ministry of Public Security | People’s Supreme Procuracy, People’s Supreme Court, Ministry of Finance, SBV, and Ministry of Foreign Affairs | December, 2016 | |||
2 | Do research into amendments to the Law on prevention and control of terrorism (for comprising terrorist activities provided for in international conventions and protocols thereto). | Ministry of Public Security | Ministry of Justice, Ministry of National Defence, People’s Supreme Procuracy, People’s Supreme Court, and SBV | December, 2020 | |||
3 | Promulgate written guidelines for implementation of UN Resolutions on terrorism and terrorism financing with regard to procedures for identifying, designating, seizing, listing or delisting, releasing assets, and receiving seized assets of individuals and organizations. Promulgate Circulars providing guidance on implementation of the Government’s Decree No. 122/2013/ND-CP dated October 11, 2013. | Ministry of Public Security | Ministry of National Defence, Ministry of Foreign Affairs, SBV, People’s Supreme Procuracy, and People’s Supreme Court | May, 2017 | |||
4 | Study and request the Government to promulgate legislative documents on handling of weapons proliferation-related matters to meet requirements set out in Resolutions of the United Nations Security Council. | Ministry of National Defence | Ministry of Public Security, and Ministry of Foreign Affairs | May, 2017 | |||
5 | Provide written guidance on implementation of regulations on anti-money laundering, counter-terrorism financing, and financing of weapons proliferation for nonprofit organizations (NPOs). | - Ministry of Home Affairs shall provide guidance for domestic NPOs; - The Committee for Foreign Non-governmental Organization Affairs shall guidance for foreign NPOs. | SBV and relevant ministries shall cooperate in performing this task within the ambit of their assigned functions and duties | December, 2015 | |||
IV | Preventive measures for financial institutions, and designated non-financial business and professions | Preventive measures for financial institutions, and designated non-financial business and professions | Preventive measures for financial institutions, and designated non-financial business and professions | Preventive measures for financial institutions, and designated non-financial business and professions | |||
1 | Study and suggest amendments to the Law on anti-money laundering with regard to customer identification and customers’ identification information updating; assessment of customer risks; disclosure of information secrets; legal arrangements; politically exposed persons (including domestic politically exposed persons), etc. in conformity with international standards. | SBV | Relevant ministries (Ministry of Finance, Ministry of Justice, and Ministry of Construction) | December, 2018 | |||
2 | Formulate and promulgate legislative documents providing guidelines for implementation of regulations on anti-money laundering for providers of money or value transfer services. | SBV | Ministry of Finance, and Ministry of Information and Communications | June, 2015 | |||
3 | Formulate and promulgate legislative documents providing guidelines for implementation of regulations on anti-money laundering and counter-terrorism financing in the use of new technological products or old products associated with new technologies. | - SBV | Ministry of Information and Communications, and Ministry of Science and Technology | December, 2015 | |||
4 | Formulate and promulgate legislative documents providing guidelines for adoption of solutions for identifying customers and updating customer identification information, especially customers whose transactions involve jurisdictions on FATF warning lists. | SBV | Ministry of Finance, Ministry of Construction, and Ministry of Industry and Trade shall provide written guidelines in their managing fields. | December, 2016 | |||
V | Measures to enhancing transparency and readiness of information about beneficial ownership of legal persons and legal arrangements | Measures to enhancing transparency and readiness of information about beneficial ownership of legal persons and legal arrangements | Measures to enhancing transparency and readiness of information about beneficial ownership of legal persons and legal arrangements | Measures to enhancing transparency and readiness of information about beneficial ownership of legal persons and legal arrangements | |||
1 | Establish information systems for updating, sharing and providing information about status of legal persons. | Ministry of Planning and Investment | SBV, Ministry of Finance, Ministry of Construction, Ministry of Justice, and Ministry of Industry and Trade | December, 2015 | |||
VI | Powers and responsibility of regulatory authorities (investigation, soft law enforcement and supervision authorities) and other organizational measures | Powers and responsibility of regulatory authorities (investigation, soft law enforcement and supervision authorities) and other organizational measures | Powers and responsibility of regulatory authorities (investigation, soft law enforcement and supervision authorities) and other organizational measures | Powers and responsibility of regulatory authorities (investigation, soft law enforcement and supervision authorities) and other organizational measures | |||
1 | Carry out inspection of reporting entities with high money laundering/ terrorism financing risks (through risks assessment) at least once a year. | SBV, Ministry of Finance, Ministry of Construction, Ministry of Industry and Trade, Ministry of Home Affairs and other ministries managing reporting entities. | Government Inspectorate | From 2015 | |||
2 | Include AML/CFT inspection contents in annual inspection programs of all fields. | Government Inspectorate | SBV, Ministry of Finance, Ministry of Construction, Ministry of Industry and Trade, Ministry of Planning and Investment, Ministry of Natural Resources and Environment, Ministry of Justice, Ministry of Home Affairs, and Ministry of Public Security | Annually | |||
3 | Improve capacity of AML authority by means of: Strengthening human resources and upgrading IT systems for receiving reports on cash transactions and digital money transfers according to the Law on anti-money laundering from all reporting entities, as well as connecting and sharing information with relevant Ministries. | SBV | Ministry of Finance and relevant ministries | October, 2015 | |||
4 | Do research into development of operating model of AML authority for fulfilling the role as a national center for anti-money laundering and combating the financing of terrorism. Perform the function to receive, analyze and transfer terrorism financing-related information to AML authority. | SBV | Ministry of Home Affairs, and Ministry of Public Security | December, 2018 | |||
5 | Improve the connection and sharing of information concerning cross-border money transfers between the General Department of Customs and AML authority. | SBV | Ministry of Finance | December, 2017 | |||
6 | Establish regulations on sharing of information between AML authority and law enforcement authorities. | SBV | Ministry of Public Security, People’s Supreme Procuracy, People’s Supreme Court, Ministry of Justice, and Ministry of National Defence | December, 2016 | |||
7 | Organize training in AML/CFT contents | SBV | Relevant ministries | Continuously | |||
VII | International cooperation | International cooperation | International cooperation | International cooperation | |||
1 | Develop plans for implementation of relevant international conventions | - Ministry of Public Security shall play the leading role in developing plans for implementation of Vienna Convention, Palermo Convention and International Convention for the Suppression of the Financing of Terrorism in 1999. - Government Inspectorate shall play the leading role in developing plans for implementation of Merida Convention. | Ministry of Foreign Affairs and relevant Ministries | December, 2020 | |||
2 | Study and suggest amendments to the Law on judicial assistance regarding provision of multilateral legal assistance in investigation, prosecution and adjudication of money laundering-related crimes, and predicate offences of money laundering and terrorism financing. | Ministry of Justice | People’s Supreme Procuracy, Ministry of Public Security, and People’s Supreme Court | December, 2016 | |||
3 | Sign memorandums of understanding on cooperation and the exchange of information concerning AML/CFT with foreign governments. | SBV | Ministry of Public Security, Ministry of Foreign Affairs, People’s Supreme Procuracy, People’s Supreme Court, and Ministry of Justice. | June, 2015 | |||
4 | Draw up Country Report on countering the financing of terrorism according to Resolutions of the United Nations Security Council | Ministry of Foreign Affairs | Relevant ministries | At the request of the United Nations Counter-Terrorism Committee | |||
5 | Make preparations for APG’s second round multilateral evaluation of Vietnam's AML/CFT mechanism in 2017. | SBV | Relevant ministries | 2015-2018 | |||
VIII | Other contents |
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1 | Disseminate information about AML/CFT tasks to reporting entities and others. | Ministry of Information and Communications | SBV, and relevant ministries | Regularly | |||
III. FUNDING FOR IMPLEMENTING THE PLAN
1. Funding
Relevant Ministries shall proactively make estimates of costs for performing assigned tasks and aggregate them in their annual operating cost estimates.
2. SBV’s responsibility:
- Directly perform for assigned tasks and take responsibility before the Prime Minister and AML Steering Committee for results thereof;
- Play the leading role and cooperate with relevant Ministries in organizing the implementation of the Plan;
- Expedite relevant Ministries in performing tasks in the Plan; annually make consolidated report on the Plan implementation progress.
3. Responsibility of relevant Ministries:
- Take responsibility before the Prime Minister and AML Steering Committee for their performance of assigned tasks;
- Within the ambit of assigned tasks, cooperate with the in-charge authority in implementing relevant tasks in the Plan, annually submit reports on their tasks performance to SBV by January 20 of the same year so that SBV may prepare and submit consolidated report on the Plan status and performance results to the Prime Minister./.