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Gov't adopts action plan against money laundering

VGP - The Government of Viet Nam has approved the national action plan to implement the Government’s commitment to prevent and combat money laundering, terrorist financing, and financing of the proliferation of weapons of mass destruction.

February 26, 2024 7:59 PM GMT+7
Gov't adopts action plan against money laundering- Ảnh 1.

Illustration photo

The action plan targets to soon remove Viet Nam from the Increased Monitoring List (Grey List) on the basis of ensuring the country's maximum national interests.

The plan figures out 17 lines of actions to implement Viet Nam’s commitment.

Accordingly, competent authorities need to prove that they have improved their awareness of money laundering and terrorist financing risks and taken actions to reduce the risks through implementing stategies and policies to combat money laundering and terrorist financing.

Competent authorities will prove that they maintain effective coordination and contacts.

The country will enhance cooperation in extradition and judicial assistance with foreign partners.

It will develop a legal framework to prohibit or regulate virtual assets and virtual asset service providers, and demonstrate enforcement of regulations to ensure compliance.

Law enforcement and prosecution agencies will prioritise parallel financial investigations and demonstrate a significant and sustainable increase in the number of money laundering investigations and prosecutions, consistent with Viet Nam's money laundering risk profile./.