The State Bank of Vietnam held an in-person and online workshop to collect feedback on a draft circular amending Circular 09/2023, which guides implementation of Vietnam’s Anti-Money Laundering Law. The draft aims to update requirements based on implementation experience and to better align Vietnam’s anti-money laundering, counter-terrorist financing and proliferation financing framework with international standards, particularly the Financial Action Task Force (FATF) recommendations. Key proposed changes cover criteria and methodologies for money laundering risk assessment by reporting entities, the risk management process and customer risk classification, and internal AML policies and procedures. The draft also revises transaction reporting requirements, including large-value transaction reports, suspicious transaction reports and electronic fund transfer reporting, and further clarifies the format and deadlines for electronic data reporting, alongside updates to relevant annexes; the scope remains the reporting entities already covered under Circular 09/2023, including financial institutions and designated non-financial businesses and professions, as well as other relevant organisations and individuals. The State Bank of Vietnam indicated it will incorporate stakeholder feedback and finalise the draft for issuance.
State Bank of Vietnam 2025-05-15
State Bank of Vietnam consults on draft amendments to AML guidance updating risk assessment and transaction reporting rules
The State Bank of Vietnam held a workshop to gather feedback on a draft circular amending Circular 09/2023, aimed at aligning Vietnam's anti-money laundering framework with international standards, particularly the Financial Action Task Force recommendations. Key changes include updates to risk assessment criteria, risk management processes, and transaction reporting requirements for reporting entities. The draft will be finalized after incorporating stakeholder feedback.