Action plan on prevention of money laundering & terrorist financing

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The action plan targets to perfect the mechanism on prevention and combating of money laundering and terrorist financing in Viet Nam; meet international criteria on the field; serve for multilateral review of the Asia/Pacific Group on Money Laundering (APG). 

The action plan comprises (1) a group of measures on legal framework; (2) a group of measures on rights and responsibilities of competent authority; (3) domestic cooperation; (4) comprehensive financial products; (5) international cooperation. 

The State Bank of Viet Nam is responsible for reviewing and researching adjustments of the Law on prevention of money laundering; supplementing regulations on granting licenses; opening branches; withdrawing licenses in order to minimize vulnerable risks of money laundering for credit organizations and financial organizations. 

The Ministry of Public Security is in charge of organizing training courses to raise capabilities of criminal investigation. 

The Ministry of Finance, the Ministry of Construction, the Ministry of Industry and Trade, the Ministry of Justice are responsible for assessing risks in money laundering and terrorist financing./.

By Kim Anh