THE PRIME MINISTER | SOCIALIST REPUBLIC OF VIETNAM |
No.: 287/QD-TTg | Hanoi, February 24, 2011 |
DECISION
AMENDING, SUPPLEMENTING THE DECISION NO.1451/QD-TTG DATED AUGUST 12, 2010 ON PROMULGATION OF NATIONAL ACTION PLAN ON ANTI-MONEY LAUNDERING AND ANTI-TERRORISM FINANCING
THE PRIME MINISTER
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the Decree No.74/2005/ND-CP dated June 07, 2005 of the Government on prevention and combat of money laundering;
At the proposal of the Vietnam State Bank Governor in the official dispatch No.23/TTr-NHNN dated February 15, 2011,
DECIDES:
Article 1. Amending,supplementingArticle 1 of the Decision No.1451/QD-TTg dated August 12, 2010 of the Prime Minister on promulgation of national action plan on anti-money laundering and anti-terrorism financing as follows:
"Article 1. Issuing together with this Decision is "The national plan on anti-money laundering and anti-terrorism financing" phase from February 02, 2011 to December, 2012.
1. The steering committee of anti-money laundering directs and regulates activities between the relative Ministries, Branches for the implementation.
2. The relative Ministries and Branches are responsible for implementing the tasks defined in the Plan; quarterly, report on the results, the performance and sent to the State Bank of Vietnam for synthesis".
Article 2. This Decision takes effect from the signing date.
Article 3. Head of the Steering Committee for prevention and combat of money laundering, Ministers, Heads of ministerial-level agencies, Heads of governmental agencies, members of the Steering Committee for prevention and combat of money laundering are responsible for the implementation of this Decision.
| FOR THE PRIME MINISTER |
NATIONAL ACTION PLAN
ON ANTI-MONEY LAUNDERING AND ANTI-TERRORISM FINANCING, PHASE FROM FEBRUARY, 2011 TO DECEMBER 2012
(Issuing together with Decision No.287/QD-TTg dated February 24, 2011 of the Prime Minister)
No. | The action should be taken to remedy the deficiencies | Responsible agencies | Complete time |
1 | To provide data and specific cases to demonstrate results in the prevention and combat of money laundering and combat of terrorism financing in Vietnam | Supreme People's Procuracy and State Bank of Vietnam | Before 12/2012 |
2 | To set up legal frame and sufficient institutions for the freezing of funds used to finance terrorism, comply with special Recommendation No. III of the Financial Special Task Force on Anti-Money Laundering (FATF) | Responsible agency: Supreme People's Procuracy; Coordinating agency: Ministry of Public Security, Supreme People's Court, Ministry of Justice, State Bank of Vietnam | Before 12/2011 |
3 | Improve the mechanism of blockade, confiscation and recovery of assets deriving from crime used for money laundering | Supreme People's Procuracy | Before 12/2011 |
4 | To make and submit to the competent authorities for promulgation of Law on anti-terrorism and ensure the use of such Law in compliance with special Recommendation No. I, II and III of FATF | Ministry of Public Security | Before 12/2011 |
5 | To handle FATF’s recommendations on criminalization of terrorism financing crime meeting thoroughly in accordance with the Convention on combating the financing of terrorism |
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6 | To handle special Recommendation No. II of FATF on definition for the term "Money or Property" and the use of this term in the Penal Code to suit requirements of the international Convention on combating the financing of terrorism. | Ministry of Public Security | Before 8/2011 |
7 | To handle FATF’s recommendations on money laundering criminalization meeting thoroughly upon Article 2 (d) of the Convention on Against Transnational Organized Crime (Palecmo Convention) and Article 3 (1) (b) and (c) of the Convention on Against drugs trafficking and psychotropic substances (Vienna Convention), including the definition for the term "property" in the Penal |
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8 | To handle Recommendation No. II of FATF on forcing legal entity to take penal liability aiming to ensure sanction measures to be appropriate and effective, or having the basis that such expansion is impossible due to the key principles of domestic law. | Ministry of Justice | Before 12/2011 |
9 | To handle FATF’s recommendations on improving the Articles referred to in the Penal Code aiming to include fully actions of financing terrorism conducted by legal entity |
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10 | To submit to the competent authorities for approval of Palecmo Convention |
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11 | To strengthen the requirement aiming to include thoroughly measures relating to updating customer information in compliance with the FATF’s Recommendation No.5; include: - Requirement on benefit enjoying ownership; - To strengthen updating customer information for high risk customers; - To recognize and certify any person who acts on the basis of representing the other; - Prohibited to open the anonymous accounts | State Bank of Vietnam | Before 8/2011 |
12 | To ensure the full force of law or regulations on keeping records in compliance with FATF’s Recommendation No.10 in the guidelines on measures of anti-terrorism financing, including transaction reports doubted related to terrorism financing and to those who have political influence (PEPs) |
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13 | To ensure the full force of law and regulations on doubtful transaction reports related to money laundering and terrorism financing from the credit institutions in compliance with FATF’s Recommendation 13 and special Recommendation IV of FATF. |
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14 | To settle issues related to requirements for benefit enjoying ownership. |
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15 | To strengthen the exchange of information between financial intelligence agencies, including financial intelligence with international partners. | State Bank of Vietnam | Before 12/2011 |
16 | To conduct the training for the staffs of the Department of Prevention and Combat of Money Laundering to improve the professional skill, support efficiently to the analysis and transfer of intelligence. | State Bank of Vietnam | Before 8/2011 |
17 | To make and submit to the competent authorities for promulgating the Law on Prevention and Combat of Money Laundering | State Bank of Vietnam | Before 12/2012 |
18 | To ensure the thorough implementation of the Circular for all report institutions. | State Bank of Vietnam; the Ministry of Finance | Before 8/2011 |
19 | To ensure the supervision and management measures for participation in the market in compliance with FATF’s Recommendation 23 |
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20 | To coordinate closely with the report organization to ensure the compliance with report responsibility. |
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21 | To strengthen the cooperation with relative law enforcement agencies to support the investigations of money laundering and terrorist financing on the basis of intelligence provided and strengthen capacity of investigating money laundering and terrorism financing cases. | State Bank of Vietnam and Ministry of Public Security | Before 8/2011 |
22 | To develop training programs on financial investigating skills, raise awareness on the risk of money laundering and terrorism financing for a number of relative units. | State Bank of Vietnam and Ministry of Public Security | Before 12/2011 |
23 | Through inspection programs on anti-money laundering and anti-terrorism financing and inspection process to the inspection units of the Ministries, Branches (except for the State Bank of Vietnam). | Government inspectorate | Before 12/2011 |
24 | The competent inspection units conduct activities of inspection on site on anti-money laundering and anti-terrorism financing to all relative sectors and business lines. |
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25 | To implement the activities of propaganda on anti-money laundering and anti-terrorism financing | Ministry of Information and Communications | Before 12/2011 |