Vietnamese Government establishes Anti-Money Laundering Steering Committee

The Prime Minister has just decided to establish the Anti-Money Laundering Steering Committee with the Chairman being Senior Deputy Prime Minister Nguyen Sinh Hung, the Vice Chairmen being the Governor of the State Bank of Vietnam (SBV) and a senior officer of the Ministry of Public Security, and members being leaders of relevant ministries and agencies.

The Anti-Money Laundering Steering Committee is responsible for assisting the PM in developing strategy, directives, policies, programs, plans, mechanism and measures of anti-money laundering; directing the implementation of membership tasks of Vietnam in the Asia/Pacific Group on Money Laundering (APG) and 40+9 recommendations of the Financial Action Task Force (FATF ); coordinating with the core forces engaged in anti- terrorism in order to study and make recommendations to the relevant authorities to issue regulatory policies, plans and measures to combat terrorist financing in Vietnam; and assisting the PM in promulgating proper directives and policies of international cooperation in anti-money laundering from time to time.

In addition, the SBV is assigned act as the Standing Agency of the Steering Committee. The SBV Governor, on behalf of the Chairman of the Steering Committee, will establish the Standing Team of the Steering Committee.

Diem Hang

sbv

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