Press release on the issuance of Circular No.20/2019/TT-NHNN
On November 14th, 2019, the Governor of the State Bank of Vietnam (SBV) issued Circular No.20/2019/TT-NHNN amending and supplementing a number of articles of Circular No. 35/2013/TT-NHNN dated December 31, 2013 guiding the implementation of a number of provisions on anti-money laundering.
Circular No. 20/2019/TT-NHNN is composed of 3 Articles with the following main substances:
Article 1. Amending and supplementing a number of articles of Circular No. 35/2013/TT-NHNN dated December 31, 2013 guiding the implementation of a number of provisions on prevention and combat of money laundering, specifically:
- Scope of regulation;
- Risk assessment of money laundering and terrorist financing;
- Responsibilities for updating customer information;
- Electronic money transfers;
- Value of foreign currencies in cash, Vietnamese currency in cash, precious metals, gems, negotiable instruments subject to customs declaration, and dossiers to be presented to border-gate customs, when individuals on exit or entry carrying cash in foreign currencies, cash in Vietnamese Dongs, precious metals, gems must declare to the customs”
- Prevention and combat of terrorist financing; Reporting on money laundering for terrorist financing;
- Updating customer information involved in legal agreements;
- Responsibilities of the Banking Supervision Agency (Anti-Money Laundering Department).
Article 2. Responsibilities for implementation
This Circular takes effect from November 14th, 2019.
Translated by VA