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Action plan on anti-money laundering, terrorism financing issued

The Prime Minister has issued a national action plan on fighting money laundering and terrorism financing for the period 2015-2020.
The Prime Minister has issued a national action plan on fighting moneylaundering and terrorism financing for the period 2015-2020.

Theplan is aimed at establishing an anti-money laundering and terrorismfinancing mechanism in Vietnam, implementing the Government'scommitments to the country's role in the Asia/Pacific Group on MoneyLaundering (APG), and participating in trans-national crime preventionprogrammes, according to the Vietnam Government Portal.

The planalso looks to protect national, organisational and individual benefitsand contribute to preventing crimes and corruption; strengthen thestability of financial organisations and stimulate the economic growthrate; confirm the standpoints and commitments to combating moneylaundering and terrorism financing for peace, stability, development andintegration as well as increasing Vietnam’s position in theinternational community.-VNA

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A motorbike production line of Honda Vietnam — a Japanese company located in Phu Tho province. (Photo: VNA)

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Infraction levels will correspond to fines of 1-80 million VND, depending on the nature and number of invoicing violations. (Photo: vietnamfinance.vn)

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At the strategic partnership signing ceremony between Sun PhuQuoc Airways and Amadeus. (Photo: Sun Group)

𝔉 Sun PhuQuoc Airways enters strategic partnership with Amadeus to build a five-star aviation technology ecosystem

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A local resident makes a bank transfer using the Momo app. (Photo: VNA)

🍒 Banks accelerate digitalisation, non-cash payments

Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
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