State Bank of Vietnam and Vietnam’s Central Internal Affairs Commission review 10 years of anti-corruption coordination in the banking sector

The State Bank of Vietnam and Vietnam’s Central Internal Affairs Commission held a conference in Hanoi to review a decade of implementing their coordination framework on preventing and combating corruption, waste and misconduct in the monetary and banking sector, and to set priorities for further joint work. The review centred on the coordination regulation signed on 10 March 2015, which focuses on corruption prevention and on advising and directing the handling of serious cases in monetary and banking activities. The authorities highlighted regular information and document exchanges, joint policy advice to senior Party bodies, faster progress in investigating, prosecuting and trying major economic and corruption cases, and the effective handling of complaints and denunciations. The cooperation was also framed as supporting work on cross-ownership, non-performing loans, collateral, anti-money laundering and the promotion of cashless payments, alongside risk warnings and closing policy gaps. Looking ahead, the Central Internal Affairs Commission set out four directions for deeper coordination: reviewing and proposing amendments to rules on credit, banking, asset management and anti-money laundering to prevent corruption; strengthening inspections and supervision to detect violations early and prevent “interest groups”; prioritising swift handling of major cases with maximum asset recovery for the state and credit institutions; and improving early risk identification and warning to prevent minor breaches from escalating.