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light-check Increase in level of high value transactions subject to report

Decision No. 11/2023/QD-TTg dated April 27th, 2023 of the Prime Minister regulating level of high value transactions subject to report
Posted: 4/5/2023 8:54:53 AM | Latest updated: 8/5/2023 9:47:44 PM (GMT+7) | LuatVietnam: 5690 | Vietlaw: 610
VietlawOnline

This Decision increases level of high value transactions subject to report to the State Bank of Vietnam from VND 300,000,000 (under Decision No. 20/2013/QD-TTgstatus3 ) to VND 400,000,000, applicable from December 1st, 2023.

Responsibility to report high value transactions still belongs to financial organizations, relevant organizations or individuals doing non-financial business as prescribed in clause 1 and clause 2 Article 4 of the Law on Prevention of money laundering.

This Decision takes effect from December 1st, 2023 and replaces Decision No. 20/2013/QD-TTgstatus3 dated April 18th, 2013.

Ms Phuong Thao (VietlawOnline.com)
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Effective Date 1-Dec-2023
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 610

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Timeline

Banking management

light-check Increase in level of high value transactions subject to report
blue-check [Merged] - Procedures for approval for changes of non-bank credit institutions
blue-check Term deposits of State Treasury at banks shall not be included in LDR
blue-check Amendments to some regulations pertaining to establishment and operation of financial companies
blue-check Amendments to procedures for approval of changes in personnel and operation of credit institutions that are cooperatives
blue-check Amendments to regulations on debt trading of banks
light-check Banks have to conduct environmental risk assessment in extending credit to investment projects
blue-check New powers and organizational structure of the State Bank of Vietnam
blue-check New conditions on refinancing of loans based on special bonds
blue-check Regulations on depositing and use of financial instruments deposited at the State Bank of Vietnam from January 17th, 2023
blue-check Amendments to regulations on provision of special loans for credit institutions placed under special control
blue-check Amendments to the minimum liquidity ratio Vietnam Development Bank
blue-check Amendments to procedures and application for approval for changes in operation licenses of banks
blue-check New regulations on supervision of operational safety of banks
blue-check
blue-check Amendments to regulations on grant of special loans to credit institutions under special control
blue-check New operating regulations of Steering Committee on prevention and control of corruption in banking sector
blue-check To loosen procedures for establishment of branches, agent offices of commercial banks
blue-check In 2022: Inflation shall be controlled at about 4% and credit increases by 14%
red-check More administrative violations in monetary and banking sector shall be subject to fines from January 1st, 2022