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Official Gazette

Friday, December 6, 2019
Tags: money laundering
Anti-money laundering regulations to be revised Anti-money laundering regulations to be revised
Payment intermediary service providers would have to apply measures to prevent and combat money laundering as financial institutions do. Such is provided in a draft decree prepared by the State Bank of Vietnam to revise several articles of Decree 116 of 2013.
Official Gazette issues Nos 49-51/2019 released on August 26 2019 Official Gazette issues Nos 49-51/2019, released on August 26, 2019
Central bank puts forth tighter regulations on e-wallets Central bank puts forth tighter regulations on e-wallets
The State Bank of Vietnam has proposed stricter regulations on opening and use of e-wallets in a draft circular revising Circular 39 of 2014 on intermediary payment services, with the aim of preventing the abuse of the e-wallet business for money laundering and other illegal purposes.
Resolution guiding money laundering enforcement announced Resolution guiding money laundering enforcement announced
The Supreme People's Court and the State Bank on May 31 held a joint seminar in Hanoi to announce the Resolution guiding the implementation of the 2015 Penal Code’s Article 324 on money laundering.
Redefining criminal policies against the backdrop of the fourth industrial revolution Redefining criminal policies against the backdrop of the fourth industrial revolution
The fourth industrial revolution has brought about numerous opportunities and posed great challenges[1] to the society in general and criminal justice in particular as there are numerous important fields directly and deeply impacted by this revolution[2]. This requires a fresh perception of criminal policies, including criminalization and decriminalization policies, as well as a new approach in the prevention and combat of newly emerging crimes, which must be based on the Party’s viewpoints and guidelines, the State’s overall socio-economic and international integration policies and regulations[3], historical-traditional conditions and crime prevention and combat practice. The globalization of criminal jurisdiction also requires the State to develop new criminal policies and reorganize the criminal justice system in order to clearly identify, effectively prevent, respond to and combat newly emerging crimes, particularly those against the national security and sovereignty, social order and safety, human and citizens’ rights.
Vietnam looks to develop cashless payment Vietnam looks to develop cashless payment
The State Bank of Vietnam is working to complete the legal corridor and build rational mechanisms to boost cashless payments, which helps prevent corruption, money laundering, and tax invasion.
Vietnam commits to fight money laundering Vietnam commits to fight money laundering
Chief Justice of the Supreme People’s Court Nguyen Hoa Binh said at a workshop in Da Nang on July 9 that some articles of the 2015 Penal Code regarding fighting money laundering are unclear, and guidance is needed to ensure the laws against money laundering are effectively carried out.
Corporate penal liability in Vietnam Corporate penal liability in Vietnam
The 2015 Penal Code marks a great progress in the country’s criminal justice by holding commercial legal entities liable for their criminal acts. Its novel provisions create a legal basis for the fight against criminal acts committed by commercial legal entities in recent years as well as for international cooperation on combating crime, especially transnational organized crime.
Cryptocurrencies to be strictly managed Cryptocurrencies to be strictly managed
To minimize risks of using cryptocurrencies for crimes, such as money laundering, terrorist financing, illegal transfer of money, tax evasion and trade fraud, the Prime Minister on April 11 issued Directive 10/CT-TTg to enhance the management of activities related to Bitcoin and other cryptocurrencies.
Notable changes in the new Penal Code at a glance Notable changes in the new Penal Code at a glance
This article summarizes significant changes in the 2015 Penal Code and its revisions in 2017, including penalizing commercial legal persons for committing certain crimes, scrapping the crime of illegally doing business, and criminally charging corruption-related offenders in the private sector.