Money transfers of 500 million VND or more must be reported.

(Dan Tri) - Money transfer transactions of 500 million VND or more must be reported to the State Bank, according to the newly issued Circular on anti-money laundering.

The State Bank of Vietnam has just issued Circular 27/2025 guiding the implementation of a number of articles of the Law on Anti-Money Laundering. This document provides many new regulations to improve the effectiveness of controlling and preventing money laundering and terrorist financing in financial activities.

One of the notable points is the regulation on reporting regime of electronic money transfer transactions. Financial institutions, payment intermediary service providers and related units must report on transactions that reach a certain threshold.

Entities must report when money transfer transactions involving domestic organizations have a value of VND500 million or more or equivalent foreign currency. For international transactions, the reporting threshold applies when electronic money transfer transactions have a value of USD1,000 or more.

Bank employees transact money at a branch (Photo: Manh Quan).

The report must include complete information about the initiating and beneficiary organizations, the sender and the recipient, and details of the account number, amount, currency, purpose and date of the transaction. The information must be submitted electronically, ensuring accuracy and timeliness as required by the regulatory agency.

In addition to reporting obligations, financial institutions must also proactively review, suspend or refuse transactions in case of detecting inaccurate information or signs of suspicion related to money laundering.

The Circular 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 gemstones 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 shall comply with current regulations of the State Bank.

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.

Source: https://dantri.com.vn/kinh-doanh/chuyen-tien-tu-500-trieu-dong-tro-len-se-phai-bao-cao-20250920081035281.htm