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| Border guards at the Lao Cai International Border Gate uncover and seize multiple cases involving the illegal transport of foreign currency through the Lao Cai International Road Border Gate. (Photo: VNA) |
Hanoi (VNA) – Vietnam has adopted a national action plan to fulfil its commitments on combating money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction, with the goal of being removed from the Financial Action Task Force's (FATF) increased monitoring list while safeguarding national interests.
According to Decision No. 1139/QD-TTg, dated June 26, 2026, ministries are required to develop, issue and effectively implement sector-specific policies and action plans by September 2026 to mitigate money laundering risks in line with the national action plan on addressing risks related to money laundering, terrorist financing and proliferation financing for the 2023–2028 period.
They will also establish monitoring mechanisms to oversee implementation of these action plans, including training programmes to strengthen awareness of money
laundering, terrorist financing and proliferation financing risks among competent authorities.
Relevant agencies must provide data and evidence demonstrating the actual implementation of measures to mitigate money laundering, terrorist financing and proliferation financing risks.
The plan also demands additional risk assessments of high-risk predicate offences identified in the mutual evaluation report, including environmental crimes and sexual exploitation offences. Sectoral money laundering risk assessments will be completed for casinos, prize-winning gaming, virtual assets, legal entities and legal arrangements.
Vietnam will step up both formal international cooperation, including extradition and mutual legal assistance, and informal cooperation between law enforcement agencies and financial intelligence units. Competent authorities will be provided with adequate resources to support international cooperation and encouraged to pursue cooperation agreements with as many foreign partners as possible to facilitate international collaboration.
The plan also requires the collection and consolidation of data on requests for mutual legal assistance and informal cooperation, as well as training activities for investigators and prosecutors.
Supervisory authorities overseeing reporting entities are tasked with strengthening international cooperation and information sharing with their foreign counterparts.
The State Bank of Vietnam is assigned to coordinate, monitor and urge ministries and agencies to implement the newly issued action plan./.
