Supplementing the list of conduct to determine the crimes related to banking operations

Question: What are the regulations to determine the crimes related to banking operation?

Answer: Pursuant to the Amended Penal Code, “the crime of violating the regulations on operations of credit institutions and foreign bank branches” which is regulated in Article 206 of the 2015 Penal Code has been amended to “the crime of violating the regulations on banking operations and other operations related to banking operations”.

Accordingly, in addition to conduct which violates the regulations on banking operations and operations regulated in the 2015 Penal Code (e.g. providing credit in violation of law, violating the regulations on safety ratio, etc.), the Amended Penal Code supplements some conduct to determine this crime as follows:

(i) Deliberately and dishonestly increasing the value of secured assets during evaluation to provide credit for cases where secured assets are required;

(ii) Unlawfully trade in gold or foreign currencies;

(iii) Carry out banking operations which are not yet licensed by competent state authorities in accordance with the Law on the State Bank of Vietnam and the Law on Credit Institutions.

Those who carry out any of the said conduct which causes others to suffer asset damage from VND100 million to under VND300 million will be fined VND50-300 million, or imprisoned for six months to three years./.