Tiếng Việt
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Deputy Prime Minister Le Minh Khai has taken a significant step towards bolstering Vietnam’s commitment to combat money laundering, terrorist financing, and the proliferation of weapons of mass destruction. On February 23, a decision was signed to promulgate the national action plan aimed at implementing the Government’s pledge in this crucial area.
The primary objective of this action plan is to actualize Vietnam’s National Action Plan in alignment with the Financial Action Task Force (FATF). By doing so, the nation endeavors to swiftly remove itself from the Increased Monitoring List (Grey List), while ensuring utmost protection of national interests.
Outlined within the plan are 17 specific actions to execute this commitment. These actions encompass various strategies, including enhancing the understanding of money laundering and terrorist financing risks among competent authorities and implementing relevant policies to mitigate these risks effectively. Furthermore, the plan emphasizes the importance of fostering cooperation, coordination, and communication between relevant agencies to streamline efforts in combating financial crimes.
Of particular note is the focus on strengthening both formal and informal cooperation with foreign partners. This entails engaging in multilateral cooperation in extradition and legal assistance, as well as forging informal partnerships between law enforcement agencies and Financial Intelligence Units. By exchanging constructive information and actively seeking cooperation regarding criminals and their assets, Vietnam aims to fortify its global alliances in combating illicit financial activities.
Crucially, Vietnam is committed to developing a robust legal framework to regulate virtual assets and virtual asset service providers. The plan underscores the necessity of enforcing these regulations rigorously to ensure compliance with international standards.
In parallel, law enforcement and prosecution agencies are poised to intensify their efforts in conducting financial investigations. Priority will be given to enhancing the number of money laundering investigations and prosecutions, aligning with Vietnam’s specific money laundering risk profile.
The implementation of this comprehensive action plan marks a significant milestone in Vietnam’s commitment to combat financial crimes effectively. By bolstering cooperation, enhancing regulatory frameworks, and prioritizing enforcement, Vietnam aims to safeguard its financial integrity while contributing to global efforts in combating money laundering and terrorist financing.
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