Law on Anti-Money Laundering 2022

On November 15, 2022, the National Assembly passed the Law on Anti-Money Laundering 2022 at the 4th Meeting, Session XV

Accordingly, some notable new highlights of the Law on Anti-Money Laundering 2022 are as follows:

- In comparison to the Anti-Money Laundering Law of 2012, intermediate payment service providers in the group of financial institutions have been added to the reporting objects.

- Divide customers into three levels of money laundering risk: High, medium, and low.

(Currently, there are two levels: high and low).

• More suspicious signs in the banking sector are set down.

+ There are signs of suspicion that customers use personal accounts to make transactions related to the organization’s activities or trade on behalf of other individuals.

+ Online transactions through accounts are constantly changing, whether regarding login devices or Internet protocol (IP) addresses abroad.

• More suspicious signs in the securities sector are set down.

+ Foreign investors residing in countries or territories with a high risk of money laundering contribute capital to establish securities investment funds or securities investment companies in Vietnam.

The Law on Anti-Money Laundering 2022 takes effect from March 1, 2023, and replaces the Law on Anti-Money Laundering 2012.

Viet Australia
Viet Australia Auditing Company is an independent auditing organization licensed and established in 2007 in the Socialist Republic of Vietnam.