Vietnam

New Documents

OECD: Vietnam Ratified BEPS Convention

The Organisation for Economic Co-operation and Development announced that Vietnam ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.

May 24, 2023

State Bank of Vietnam, NCA Sign MoU on Combating Financial Crime

Governor Nguyen Thi Hong of the State Bank of Vietnam attended a ceremony related to a new memorandum of understanding between authorities in the U.K. and Vietnam on financial intelligence.

August 31, 2022

APG Welcomes Significant AML/CTF Reforms in Vietnam, Cites Remaining Compliance Gaps

February 1, 2022

State Bank of Vietnam, Russia Strengthen Cybersecurity Cooperation

January 19, 2022

State Bank of Vietnam Deputy Governor Discusses Digital Banking Payment Infrastructure

January 2, 2020

News

Weekly Roundup: Vietnamese Fraudster Handed Death Sentence, Morgan Stanley Under AML Investigation, and More

U.S. lawmakers target ransomware payments, IRS-CI chief joins Chainalysis, and more, in the weekly roundup.

April 12, 2024

Midweek Roundup: UK Bitcoin Launderer Convicted, New York AML Regulator Plans AI Controls, and More

Records link U.K. Conservative party donor to frozen assets, suspicious transactions trigger warning in Europe, and more, in the midweek roundup.

March 20, 2024

Weekly Roundup: DFS Fines Winklevoss Brothers, Vietnam Eyes Digital Asset Ban, and More

March 1, 2024

Midweek Roundup: Russian Superyacht for Sale, Conmen Sold Victims Antarctica Passports, And More

August 24, 2022

Midweek Roundup: FinCEN Targets Legal Entities and Real Estate Market, US Threatens Russia with SWIFT Ban, and More

December 8, 2021

Enforcement Actions

0 Items Found

Key Documents

Vietnam Enacts Anti-Money Laundering Legislation

June 18, 2012

Vietnam Publishes Updated AML/CTF Regulations

October 4, 2013

Vietnam Publishes AML Regulations

June 7, 2005

Vietnam Defines Money Laundering, Corruption in Latest Penal Code

December 21, 1999

Important Facts

The U.S. Department of State categorizes Vietnam as a major money laundering jurisdiction. Vietnam’s economy is largely cash-based and while the use of bank accounts is increasing but remains vulnerable to money laundering through false declarations, including fictitious investment transactions and customs fraud, The Department of State additionally notes that Vietnam’s tech-savvy population and newly legalized local casinos may lead to additional exposure to illicit finances. Such illicit finances stem from high-value sales of luxury items and real estate; public corruption. Sources of illicit funds include organized crime groups in Asia, Europe, and North America. Vietnam has in place know your customer and suspicious transaction reporting requirements. In 2018, Vietnam prosecuted over 90 defendants accused of criminal charges associated with illegal online gaming and obtained convictions against almost all defendants, including four on money laundering charges.

Source: 2019 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical	Effectiveness
Compliant : 2	High : 0
Largely Compliant : 11	Substantial : 2
Partially Compliant : 23	Moderate : 2
Non-Compliant : 4	Low : 7

BASEL i

Rank : 12/141

Score : 7.04/10

TRANSPARENCY INTERNATIONAL i

Rank : 96/180

Score : 37/100

Tax Justice Network i

Rank : 37/133

Score : 74/100