State Bank of Vietnam issues 2025–2026 banking sector plan to combat terrorism and WMD proliferation financing

The State Bank of Vietnam has issued a 2025–2026 plan for the banking sector on counter-terrorism, terrorist financing and financing of weapons of mass destruction (WMD) proliferation, setting out actions intended to reduce risks to banking security, strengthen response capabilities and raise staff awareness while meeting legal requirements and international standards. Implementation measures span the banking sector’s counter-terrorism steering committee, its standing secretariat, State Bank units and regional branches, and credit institutions. The plan prioritises stronger coordination with relevant ministries and local counter-terrorism bodies, enhanced monitoring and reporting, and increased supervision and inspection of commercial banks and other supervised entities. For credit institutions and other banking-sector organisations, it requires institution-level counter-terrorism arrangements, appropriate tools and equipment, and full compliance with obligations under the Law on Anti-Money Laundering, the Law on Counter-Terrorism and relevant decrees, including customer due diligence, screening against blacklists, improved detection and reporting of suspicious transactions, and timely application of temporary measures such as suspending transactions and freezing funds or assets linked to terrorism or WMD proliferation financing. The plan takes effect on 1 April 2025 and replaces the State Bank’s earlier 2025–2026 plan issued in January 2025.