ANTD.VN – According to Decision 11/2023/QD-TTg of the Prime Minister, from December 1, 2023, transactions worth 400 million VND or more must be reported to the State Bank.
This decision stipulates that large value transactions must be reported to the State Bank of Vietnam according to the provisions of Clause 2, Article 25 of the Law on Prevention and Combat of Money Laundering (the Prime Minister decides that large value transactions must be reports in accordance with socio-economic conditions in each period).
Reporting subjects are financial institutions, organizations and individuals doing business in relevant non-financial industries specified in Clauses 1 and 2, Article 4 of the Law on Prevention and Combat of Money Laundering 2022, including:
Financial institutions are licensed to perform one or several activities: Receive deposits; Loan; Financial leasing; Payment services; Payment intermediary services; Issuing negotiable instruments, bank cards, money transfer orders; Bank guarantees, financial commitments;
Providing foreign exchange services and monetary tools on the currency market; Stockbroker; securities investment consulting, securities underwriting; Securities investment fund management; securities investment portfolio management; Life insurance business; Money change.
Organizations and individuals doing business in relevant non-financial industries and professions according to the provisions of law carry out one or several activities: Business of prize-winning games, including: prize-winning electronic games; games on telecommunications networks and the Internet; casino; Lottery; place a bet;
Real estate business, except real estate leasing and subleasing activities and real estate consulting services; Trading in precious metals and gemstones; Business accounting services; providing notary services; Providing legal services by lawyers and law-practicing organizations; Providing services for establishing, managing and operating businesses; providing director and company secretary services to third parties; provides legal agreement services.
Decision 11/2023/QD-TTg replaces Decision 20/2013/QD-TTg dated April 18, 2013 of the Prime Minister regulating the value of large transactions that must be reported.
Ministers, Heads of ministerial-level agencies, Heads of Government agencies, Chairmen of People’s Committees of provinces and centrally-run cities and relevant organizations and individuals are responsible for implementing this Decision. .
