Title: Circular 35/2013/TT-NHNN dated December 31, 2013, guiding implemetation of a number of provisions on prevention of money laundering

Type: Circular

Issuing Agency: The State Bank of Viet Nam

Responsible Agency: The State Bank of Viet Nam

Issuing Date: 31-12-2013

 

Article 1. Scope of regulation

This Circular provides for enhanced assessment of highly potential risk customers; notification of list of politically-influenced foreign individuals; content and forms of reports including: high value transactions, suspicious transactions; electronic money transfers, and money laundering for the aim of terrorist financing; values of precious metals, gems and negotiable instruments required custom declaration. 

Article 2. Subjects of application

1. The reporting units as prescribed at Clause 1, 2 Article 2 of Law on anti-money laundering.

2. Vietnamese organizations and individuals; foreigners or stateless persons residing or not residing on Vietnam’s territory; foreign organizations, international organizations, non-governmental organizations operating or not operating on Vietnam’s territory buy having financial transactions or other asset transaction with organizations and individuals specified at clause 1 this Article.   

Article 3. Measures of enhanced assessment for highly potential risk customers

For highly potential risk customers not in cases specified in articles 13, 14, 15, 16 and 17 of Law on anti-money laundering, in addition to application of measures of identification as prescribed in Article 9 of Law on anti-money laundering, the reporting units must apply the following measures of enhanced assessment:

1. To require an approval of management level higher than the approving authority one or more levels applicable to normal customers when they set up relations for the first time or when a current customer is assessed to be a highly potential risk customer. For current customers, after assessment or reassessment, they are classified in highly potential risk customers, the reporting units must submit to competent authorities for approving or re-approving the relation with these customers and application of enhanced measures as prescribed at Clause 2, Clause 3 and Clause 4 this Article.

2. To collect additionally the following information:

a) For customers being individuals:

- The monthly average income in nearest 6 months of customers; name, address, telephone number of agency, organization or boss of establishment where they work or gain main income;

- Full name, address, and occupation of wife or husband, children of customer.

b) For customers being organizations:

- Trades of production, business and service that create main turnover;

- Financial statements in last 2 years;

- List (full name, address, telephone) of members of Board of Directors or Member assembly, members of the executive board, chief accountant or equivalent person;

- List of (name, address, representatives) of mother company, subsidiary companies, representative offices (if any).

3. To strictly supervise transactions of highly potential risk customers.

4. To update information on a basis of at least 6 months once or when the reporting units know that information of customer has been changed.

Article 4. List of politically-influenced foreign individuals

1. List of politically-influenced foreign individuals as prescribed at Clause 1 Article 13 of Law on anti-money laundering is published on website of the State bank of Vietnam at address http://www.sbv.gov.vn.

2. The access, use of list of politically-influenced foreign individuals shall comply with guideline of the Banking Inspection and Supervision agency of the State bank of Vietnam (hereinafter referred to as the Banking Inspection and Supervision agency); the reporting units do not supply information of this list to the third party without consent of the Banking Inspection and Supervision agency.

3. The reporting units must register in writing with the Banking Inspection and Supervision agency (through Bureau of anti-money laundering) for information of persons accessing and using the list of politically-influenced foreign individuals, including: Full name, valid ID number or passport, position, telephone number and address of working place, email.

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Download Vietnamese: Circular 35/2013/TT-NHNN dated December 31, 2013, guiding implemetation of a number of provisions on prevention of money laundering