Chapter III
RESPONSIBILITIES FOR AML OF STATE AUTHORITIES
Article 47. Responsibilities of the Government and the Prime Minister
1. The Government shall exercise the uniform authority over AML activities.
2. The Government shall issue regulatory documents under its jurisdiction regarding AML.
3. The Prime Minister shall direct Ministries, ministerial-level agencies and Governmental bodies to cooperate with the Supreme People's Court or the Supreme People's Procuracy to carry out the work of preventing and combating money laundering; direct the coordination of the work of prevention, combat of money laundering and the prevention and combat of terrorist financing and proliferation of weapons of mass destruction.
Article 48. Responsibilities of the State Bank of Vietnam
The State Bank of Vietnam shall be held accountable to the Government for exercising the regulatory authority over AML, and shall have the following duties and powers:
1. Formulate and request competent authorities to issue, or issue within their competence, legislative documents and plans regarding AML;
2. Take charge of, and cooperate with relevant agencies in, implementing measures to prevent and combat money laundering in the monetary and banking sectors.
3. Inspect, examine and supervise AML activities with regard to the reporting entities under the range of its responsibilities for state management of money and banking activities, even when doing so based on results of national risk assessment of money laundering and results of money-laundering risk assessment of these reporting entities;
4. Cooperate, exchange and provide information with competent authorities in the activities of inspection, supervision, investigation, prosecution, trial, proceeding and judgment enforcement related to money laundering;
5. Implement international cooperation on money laundering prevention and combat, act as a conduit to participate in and implement Vietnam's obligations in the role of a member of an international organization on prevention and combat of money laundering;
6. Conduct research and application of scientific and technical advances and information technology to the prevention and combat of money laundering;
7. Take charge of, and cooperate with relevant agencies in, disseminating and educating laws on prevention and combat of money laundering, and communicating guidelines, policies and laws on prevention and combat of money laundering, and holding training sessions on money laundering prevention and combat;
8. Compile annual reports for submission to the Government on the prevention and combat of money laundering in Vietnam;
9. Take charge of conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; carry out the assessment and updating of money laundering risks in the monetary and banking sectors, and gather and submit to the Government for approval of national money-laundering risk updates according to the provisions of clause 2 of Article 7 in this Law;
10. Cooperate with the Ministry of Foreign Affairs, relevant ministries and central authorities to propose and preside over the signing of, and implement international treaties and agreements on prevention and combat of money laundering;
11. Supervise reporting entities’ compliance with the reporting requirements specified in Article 25, 26 and 34 in this Law; cooperate in providing supervisory information to Ministries and central authorities to meets the needs regarding inspection, examination and supervision of money laundering prevention and combat activities.
Article 49: Responsibilities of the Ministry of Public Security
1. Collect, receive and process information necessary for combat against money laundering crimes.
2. Notify the results of processing information related to suspicious transactions to the State Bank of Vietnam.
3. Preside over, and cooperate with relevant agencies, entities and persons concerned in preventing, detecting, investigating and handling money laundering crimes.
4. Exchange information and documents on new methods and schemes of domestic and foreign money laundering criminals with the State Bank of Vietnam.
5. Take charge of making a list of natural or legal persons involved in terrorism and terrorist financing activities.
6. Implement mutual legal assistance in the prevention and combat of money laundering within the scope of its powers and duties.
7. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; carrying out the assessment and updating of money laundering risks of crimes derived from sources of high exposure as defined in clause 2 of Article 7 herein.
Article 50. Responsibilities of the Ministry of National Defence
1. Exchange information and documents on money laundering activities aimed at financing for proliferation of weapons of mass destruction in Vietnam and foreign countries with the State Bank of Vietnam.
2. Take charge of making a list of natural or legal persons blamed for any connection with proliferation and financing of proliferation of weapons of mass destruction.
3. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law.
Article 51. Responsibilities of the Ministry of Finance
1. Take charge of, and cooperate with relevant agencies in, implementing measures to prevent and combat money laundering in the life insurance business, securities, accounting service, prize-awarding electronic game, casino, lottery, betting and other service sectors under the state management of the Ministry of Finance.
2. Inspect, examine and supervise AML activities with regard to the reporting entities in the sectors specified in clause 1 of this Article, even when doing so based on results of national risk assessment of money laundering and results of money-laundering risk assessment of these reporting entities.
3. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; carrying out the assessment and updating of money laundering risks as defined in clause 2 of Article 7 in the sector specified in this Article.
Article 52. Responsibilities of the Ministry of Construction
1. Take charge of, and cooperate with relevant agencies in, implementing measures to prevent and combat money laundering in the real estate business sector, except for real estate leasing and subleasing and real estate consulting services.
2. Inspect, examine and supervise AML activities with regard to the reporting entities in the sectors specified in clause 1 of this Article, even when doing so based on results of national risk assessment of money laundering and results of money-laundering risk assessment of these reporting entities.
3. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; carrying out the assessment and updating of money laundering risks in the real estate business sector, except for real estate leasing or subleasing, and real estate consulting services, as defined in clause 2 of Article 7 in this Law.
Article 53: Responsibilities of the Ministry of Justice
1. Take charge of, and cooperate with relevant agencies in, implementing measures to prevent and combat money laundering in the notary public and law practising sectors.
2. Cooperate with the State Bank of Vietnam in disseminating and providing education about the law on prevention and combat of money laundering.
3. Inspect, examine and supervise AML activities with regard to the reporting entities specified in clause 1 of this Article, even when doing so based on results of national risk assessment of money laundering and results of money-laundering risk assessment of these reporting entities.
4. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; carrying out the assessment and updating of money laundering risks in the notary public and law practising sectors as defined in clause 2 of Article 7 herein.
Article 54: Responsibilities of the Ministry of Industry and Trade
1. Take charge of, and cooperate with relevant agencies in, implementing measures to prevent and combat money laundering in the business of precious metals, jewels, except the business of gold bullions, gold jewelries or fine arts gold.
2. Inspect, examine and supervise AML activities with regard to the reporting entities in the business sectors specified in clause 1 of this Article, even when doing so based on results of national risk assessment of money laundering and results of money-laundering risk assessment of these reporting entities.
3. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; carrying out the assessment and updating of money laundering risks in the gold bullion, gold jewelry or fine arts gold business sectors as defined in clause 2 of Article 7 herein.
Article 55. Responsibilities of the Ministry of Planning and Investment
1. Take charge of, and cooperate with relevant agencies in, implementing AML tasks in the sectors under its management.
2. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; preside over and cooperate with relevant agencies in carrying out the assessment and updating of money laundering risks as defined in clause 2 of Article 7 with regard to legal persons instituted under the provisions of the Law on Enterprises.
Article 56. Responsibilities of the Ministry of Home Affairs
1. Take charge of, and cooperate with relevant agencies in, implementing measures to prevent and combat money laundering that are meant for associations, social funds, charity funds and religious institutions.
2. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; preside over and cooperate with relevant agencies in carrying out the assessment and updating of money laundering risks with regard to the associations, social funds, charity funds and religious institutions specified in clause 2 of Article 7 herein.
3. Cooperate with relevant agencies in carrying out the risk assessment of money laundering for foreign NGOs.
Article 57. Responsibilities of the Ministry of Foreign Affairs
1. Take charge of, and cooperate with relevant agencies in, implementing measures to prevent and combat money laundering that are meant for foreign non-governmental organizations.
2. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; preside over and cooperate with relevant agencies in carrying out the assessment and updating of money laundering risks that are meant for the foreign non-governmental organizations specified in clause 2 of Article 7 herein.
3. Cooperate with the State Bank of Vietnam in the signing of, and conduct of the implementation of international treaties and agreements on prevention and combat of money laundering.
Article 58. Responsibilities of the Ministry of Information and Communications
1. Take charge of, and cooperate with relevant agencies in, implementing measures to prevent and combat money laundering in the telecommunications or Internet network-based game business sector.
2. Inspect, examine and supervise AML activities with regard to the reporting entities in the sectors specified in clause 1 of this Article, even when doing so based on results of national risk assessment of money laundering and results of money-laundering risk assessment of these reporting entities.
3. Cooperate with the State Bank of Vietnam in conducting the national risk assessment on money laundering as specified in clause 1 of Article 7 in this Law; carrying out the assessment and updating of money laundering risks in the telecommunications or Internet network-based game business sector as defined in clause 2 of Article 7 herein.
4. Cooperate with the State Bank of Vietnam in disseminating and communicating guidelines, policies and laws on prevention and combat of money laundering.
Article 59. Responsibilities of Other Ministries and Central Authorities
1. Cooperate with the State Bank of Vietnam in exercising the regulatory authority over AML.
2. Inspect and examine reporting entities under their state management to ensure their compliance with the provisions of the law on prevention and combat of money laundering.
3. Cooperate with the State Bank of Vietnam and Ministries or central authorities concerned in conducting the national money-laundering risk assessment and update as specified in clause 1 and 2 of Article 7 in this Law.
Article 60. Responsibilities of the People’s Procuracies
1. The People's Procuracies shall, within the range of their functions, tasks and powers, promptly and strictly handle money laundering acts; cooperate with relevant entities and institutions in combating money laundering.
2. The Supreme People's Procuracy shall, within the range of its functions and tasks, bear responsibility for international cooperation in mutual legal assistance in criminal matters; promptly handle, process and request mutual legal assistance in criminal matters in the prevention and combat of money laundering.
3. The Supreme People’s Procuracy shall cooperate with the State Bank of Vietnam and Ministries or central authorities concerned in conducting the national money-laundering risk assessment and update as specified in clause 1 and 2 of Article 7 in this Law.
Article 61. Responsibilities of the People’s Courts
1. The People's Courts shall, within the range of their functions, tasks and powers, promptly and strictly handle money laundering acts; cooperate with relevant entities and institutions in combating money laundering.
2. The Supreme People's Court shall, within the range of its functions and tasks, bear responsibility for international cooperation in mutual legal assistance in money laundering.
3. The Supreme People’s Court shall cooperate with the State Bank of Vietnam and Ministries or central authorities concerned in conducting the national money-laundering risk assessment and update as specified in clause 1 and 2 of Article 7 in this Law.
Article 62. Responsibilities of the People’s Committees at all levels
1. Disseminate and provide education about the law on prevention and combat of money laundering in local areas under their jurisdiction.
2. Cooperate with competent state agencies in implementing and promoting the implementation of AML plans, conducting the national assessment of risks of money laundering.
3. Detect, promptly and strictly handle violations against law on money laundering prevention and combat according to respective competence.
Article 63. Responsibilities for Information Confidentiality and Security
1. State authorities referred to in this Law shall be responsible for implementing information security regulations laid down in law.
2. Competent state agencies involved in the relationship involving exchanging, providing and transferring information as specified in Article 6 of this Law with foreign competent authorities must ensure that such information is kept confidential and used for the right purposes stated in the requests for information exchange, provision and transfer.
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