According to Circular 27/2025 issued by the State Bank, organizations participating in domestic transactions with a value of VND 500 million or more or equivalent foreign currency must report. For international transactions, the reporting threshold applies when the electronic money transfer transaction is worth USD 1,000 or more.
According to information recently announced by the State Bank, the VND500 million level for domestic electronic money transfer transactions that must be reported is not a new regulation in Circular 27/2025, but has been maintained since 2007 until now.
Since 2005, Decree 74/2005 of the Government on anti-money laundering has stipulated the transaction value that must be reported. Accordingly, cash transactions with a value of 200 million VND and savings deposit transactions with a value of 500 million VND (or equivalent value in foreign currency or gold) must be reported.
"This is the first step towards requiring reporting of transactions exceeding the threshold in Vietnam," the State Bank informed.
Staff checking money at the bank (Photo: VPBank ).
Subsequent documents such as the 2012 Law on Anti-Money Laundering, the 2022 Law on Anti-Money Laundering and guiding Circulars, including Circular No. 27/2025, continue to inherit and perfect legal regulations on electronic money transfer transactions and the reporting regime for electronic money transfer transactions to meet international standards of FATF (Financial Action Task Force on Anti-Money Laundering).
The threshold for reporting electronic funds transfers alone has remained unchanged since 2007.
"Circular No. 27/2025 does not change the reporting value threshold but clarifies the responsibility of organizations providing electronic money transfer services in ensuring consistent and timely data and applying scanning and filtering technology to detect transactions with signs of risk," the State Bank stated.
The new circular takes effect from November 1. However, to give organizations time to prepare, the State Bank has stipulated a transition period. Specifically, until December 31 of this year, reporting units will continue to apply internal procedures and risk management according to current regulations.
Circular 27/2025 also stipulates the value and documents to be presented to border customs when carrying foreign currency in cash, Vietnamese Dong in cash, negotiable instruments, precious metals, and precious stones exceeding the prescribed level.
Specifically, the value of precious metals (except gold) and gemstones is from 400 million VND. Similarly, the value of transfer instruments is also 400 million VND or more.
The value of foreign currency in cash, Vietnamese Dong in cash and gold that must be declared at customs at border gates upon exit or entry is implemented according to current regulations of the State Bank.
Source: https://dantri.com.vn/kinh-doanh/chuyen-tien-tu-500-trieu-dong-phai-bao-cao-hieu-sao-cho-dung-20251016181313235.htm
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