Chương IV Luật Phòng, chống rửa tiền 2012: Điều khoản thi hành

Chapter IV

IMPLEMENTATION PROVISIONS

Article 64. Amendments and Supplements to Several Articles of Laws Relating to AML

1. Amending and supplementing clause 1 of Article 49 in the Law on State Bank of Vietnam No. 46/2010/QH12 as follows:

“1. Bank Supervision and Inspection Agency is a unit under the structure of the State Bank, performing the task of banking inspection and supervision.".

2. Amending and supplementing several Articles of the Law on Anti-Money Laundering No. 28/2013/QH13 as follows:

a) Amending and supplementing Article 34 as follows:

“Article 34. Implementation of terrorist financing countermeasures and application of provisional measures; national risk assessment regarding prevention and combat of terrorist financing

1. Financial institutions, relevant non-financial businesses and professions shall apply the provisions of Article 9 through Article 40 in the Law on prevention and combat of money laundering to identify customers, collect, update and verify customer identification data; develop internal rules and regulations, report, provide and store information, records, documents and reports on the prevention and combat of terrorist financing.

2. Immediately when there is a suspicion that a customer or a customer's transaction is related to terrorist financing, or that a customer is on the Blacklist, financial institutions, relevant non-financial businesses and professions shall report to the counter-terrorism forces of the Ministry of Public Security, the State Bank of Vietnam, and shall be required to apply provisional measures in accordance with the law on prevention and combat of money laundering.

3. Every 5 years, the Ministry of Public Security shall lead and/or cooperate with relevant Ministries and central authorities in conducting the national assessment of money laundering risks in Vietnam and seeking the Government’s approval of the assessment results and post-assessment action plans.”;

b) Amending and supplementing Article 35 as follows:

“Article 35. Control of cross-border transportation of cash, precious metals, jewels and negotiable instruments

Entities and persons having jurisdiction over control of cross-border transportation of cash, precious metals, jewels and negotiable instruments from Vietnam as specified in Article 24 herein and Article 35 in the Law on Anti-Money Laundering shall be responsible for promptly detecting, preventing and handling acts of abusing these activities to finance terrorism.”.

Article 65. Application of regulations of this Law to prevention and combat of financing for proliferation of weapons of mass destruction

Financial institutions, relevant non-financial businesses and professions shall apply the provisions of Article 9 through Article 40 in this Law to identify customers, collect, update and verify customer identification data; develop internal rules and regulations, report, provide and store information, records, documents and reports on the prevention and combat of financing of proliferation of weapons of mass destruction.

Article 66. Entry into Force

1. This Law shall enter into force as from March 1, 2023, unless otherwise prescribed in clause 2 of this Article.

2. Clause 1 of Article 64 herein shall commence to take effect as from the date on which other regulations regarding agencies performing the AML functions and duties that are promulgated by competent state authorities come in use.

3. The Law on Anti-Money Laundering No. 07/2012/QH13 shall be annulled from the effective date of this Law.