Decision No. 11/2023/QĐ-TTg stipulates the threshold for large-value transactions that must be reported

Pursuant to …;

Regulations on the threshold for large-value transactions that must be reported

Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing Certain Provisions of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on Prevention and Combating Money Laundering dated November 15, 2022;

At the proposal of the Governor of the State Bank of Vietnam;

The Prime Minister issues this Decision to stipulate the threshold for large-value transactions that must be reported.

Article 1. Scope of Regulation

This Decision stipulates the threshold for large-value transactions that must be reported to the State Bank of Vietnam as provided for in Clause 2, Article 25 of the Law on Anti-Money Laundering.

Article 2. Applicability

Financial organizations, organizations, and individuals engaged in non-financial professions related to financial institutions as prescribed in Clause 1 and Clause 2, Article 4 of the Law on Anti-Money Laundering.

Article 3. Threshold for Large-Value Transactions That Must Be Reported

The threshold for large-value transactions that must be reported is VND 400,000,000 (four hundred million) or more.

Article 4. Effective date

1. This Decision takes effect from December 1, 2023.

2. This Decision replaces Decision No. 20/2013/QĐ-TTg dated April 18, 2013 of the Prime Minister stipulating the value threshold for large-value transactions that must be reported.

3. Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial People's Committees under central cities, and relevant organizations and individuals are responsible for implementing this Decision./.