Strengthening the identification and handling of anti-money laundering risks

On October 16, in Hanoi, the State Bank of Vietnam held a workshop to disseminate Circular No. 27/2025/TT-NHNN guiding the implementation of a number of articles of the Law on Anti-Money Laundering; disseminate anti-money laundering contents in Resolution No. 05/2025/NQ-CP of the Government; and update the results of national risk assessment on money laundering and terrorist financing.

Overview of the workshop.

Deputy Governor of the State Bank of Vietnam Nguyen Ngoc Canh chaired the workshop. Also attending the workshop were delegates from relevant ministries, branches, agencies and officers and employees from reporting entities in the fields of securities, fund management, insurance, real estate business, law firms, notaries, accounting, casino auditing, prize games, gold, silver, and gemstones...

Strengthening propaganda about anti-money laundering risks

In his opening speech, Deputy Governor of the State Bank of Vietnam Nguyen Ngoc Canh emphasized the importance of organizing the workshop as the Vietnamese Government continues to step up efforts in the field of preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction. In the context of many fluctuations in geopolitics and international financial markets and the increasingly open Vietnamese economy, the need to step up the identification and handling of risks in preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction is becoming increasingly urgent.

In addition, perfecting the legal framework on preventing and combating money laundering, terrorist financing, and proliferation of weapons of mass destruction will actively contribute to the implementation of the National Action Plan on preventing and combating money laundering, terrorist financing, and proliferation of weapons of mass destruction that the Government has committed to with the Financial Action Task Force (FATF).

Deputy Governor Nguyen Ngoc Canh said that at the meeting of the National Steering Committee on preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction held on October 15, Deputy Prime Minister Ho Duc Phoc, Head of the Steering Committee, requested the State Bank of Vietnam, as the standing agency of the Steering Committee, to strengthen coordination with relevant ministries and branches to implement three strategic action groups, in which perfecting the legal framework is a pillar.

The Deputy Prime Minister also requested press agencies to increase information and propaganda on risks of preventing and combating money laundering, terrorist financing, financing the proliferation of weapons of mass destruction and the legal framework in this field so that businesses and people can understand, grasp and properly and fully perform their obligations in recognizing and preventing risks of preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction.

Vice President Nguyen Ngoc Canh delivered the opening speech at the workshop.

“This workshop is an implementation activity of Action No. 1 and Action No. 7 in the National Action Plan, demonstrating that competent authorities have improved their understanding of money laundering/terrorist financing risks and are taking actions to mitigate risks through strategies, policies to prevent money laundering/terrorist financing and guidance for the private sector in identifying risks, complying with obligations to prevent and combat money laundering, terrorist financing and financing of proliferation of weapons of mass destruction,” Deputy Governor Nguyen Ngoc Canh stated.

Regarding the content of Circular No. 27/2025/TT-NHNN replacing Circular No. 09/2023/TT-NHNN, effective from November 1, 2025 and with a transition period until December 31, 2025 for organizations to proactively complete internal processes, update technology systems and compliance control mechanisms, the representative of the State Bank's leadership also said: The issuance of Circular No. 27 is an important step in implementing Action No. 5 of the National Action Plan that Vietnam has committed to with the Financial Action Task Force (FATF).

According to Ms. Nguyen Thi Minh Tho, Deputy Director of the Anti-Money Laundering Department (State Bank of Vietnam), the changes in the Circular include: Criteria and methods for assessing money laundering risks of reporting entities; Process for managing money laundering risks and classifying customers according to the level of money laundering risks; Internal regulations on anti-money laundering; Reporting regime for large value transactions that must be reported; Reporting regime for suspicious transactions; Electronic money transfer transactions; Reporting regime for electronic money transfer transactions; Form and deadline for reporting electronic data; Amendments and supplements to appendices on forms for reporting risk assessment at organizations and forms for reporting suspicious transactions.

“Circular 27 also emphasizes the principle of risk-based management, requiring organizations to update and periodically assess money laundering risks, and develop a process for identifying and verifying customers, including those with no accounts or few transactions. Reporting entities must regularly monitor business relationships, ensure transactions are consistent with legitimate sources of funds and customer identification records,” Ms. Nguyen Thi Minh Tho noted.

Legal corridor for piloting the crypto asset market

In addition to the discussions on the content of Circular No. 27, the workshop also introduced some contents related to anti-money laundering work in the Law on Digital Technology Industry and Resolution No. 05/2025/NQ-CP on piloting the crypto asset market in Vietnam.

Accordingly, on September 9, 2025, the Government issued Resolution No. 05/2025/NQ-CP on piloting the crypto-asset market in Vietnam, creating a legal corridor for the testing phase. During this phase, strict compliance with anti-money laundering regulations is a prerequisite to ensure the safety and sustainable development of the national financial-economic system.

Ms. Nguyen Thi Minh Tho, Head of the Department of Public Security, and the President presented at the workshop.

Updating the results of the national risk assessment on money laundering and terrorist financing, information at the workshop showed that: Implementing Article 7 of the Law on Anti-Money Laundering in 2022 and in preparation for the Asia-Pacific Group on Anti-Money Laundering (APG) Multilateral Assessment of the mechanism for preventing and combating money laundering, terrorist financing, and financing of proliferation of weapons of mass destruction in 2027-2028, Vietnam is in the process of conducting a national risk assessment on money laundering and terrorist financing for the period 2023-2027.

The workshop also presented legal regulations and international standards of the Financial Action Task Force (FATF) related to national risk assessment. Here, representatives of the Ministry of Public Security and the State Bank of Vietnam introduced some updated results of the national risk assessment on money laundering and terrorist financing for the period 2023-2025 and plans to implement the national risk assessment on money laundering and terrorist financing for the period 2023-2027.

HONG ANH

Source: https://nhandan.vn/day-manh-nhan-dien-va-xu-ly-cac-rui-ro-ve-phong-chong-rua-tien-post915768.html