Decree No. 143/2021/NĐ-CP amends and supplements certain provisions of Decree No. 88/2019/NĐ-CP dated November 14, 2019 on administrative penalties in the field of currency and banking.

 

DECREE

AMENDMENTS AND SUPPLEMENTS TO SEVERAL ARTICLES OF DECREE NO. 88/2019/ND-CP OF NOVEMBER 14, 2019 ON ADMINISTRATIVE SANCTIONS FOR VIOLATIONS IN THE FIELD OF CURRENCY AND BANKING

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 Handling Administrative Violations dated June 20, 2012; the Law Amending and Supplementing Certain Provisions of the Law on Handling Administrative Violations dated November 13, 2020;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010; the Law Amending and Supplementing Certain Articles of the Law on Credit Institutions dated November 20, 2017;

Based on the Law on Prevention and Combating Money Laundering dated June 18, 2012;

Pursuant to the Law on Prevention and Combating Terrorism dated June 12, 2013;

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

The Government promulgates this Decree to amend and supplement several articles of Decree No. 88/2019/ND-CP of November 14, 2019 on administrative sanctions for violations in the field of currency and banking.

Article 1. Amending and supplementing several articles of Decree No. 88/2019/ND-CP of November 14, 2019 of the Government on administrative sanctions for violations in the field of currency and banking

1. Amending and supplementing Point m Clause 2 Article 1 as follows:

“m) Violating regulations on preventing and combating money laundering; financing terrorism; financing the proliferation of weapons of mass destruction;”

2. Supplementing Article 2a after Article 2 as follows:

“Article 2a. Repeated Administrative Violations

Organizations and individuals committing repeated administrative violations shall be subject to administrative sanctions for each individual violation, except for repeated administrative violations that are aggravating circumstances stipulated in Articles 5; 9; 10; 11; 12; 13; 14; 14a; 15; 16; 17; 18; 19; 20; 21; 22; Paragraphs 1, 3, 4, 5, 6, 7, 8 of Article 23; Paragraphs 1, 3, 4, 5, 6, 7, 8 of Article 24; Article 25; Article 26; Article 27; Article 28; Article 28a; Article 29; Article 30; Article 31; Article 32; Article 33; Paragraph 1 of Article 34; Article 35; Article 36; Article 37; Article 38; Article 39; Article 40; Article 41; Article 42; Article 43; Article 44; Article 44a; Article 45; Article 45a; Article 46; Article 47; Article 50; Article 51 of this Decree.”

3. Supplementing Article 2b following Article 2a as follows:

“Article 2b. Time of Termination of Violation

The time of termination of the violation for calculating the statute of limitations for certain violations under Chapter II of this Decree is specified as follows:

1. For violations concerning the receipt of deposits, provision of credit, agency services, purchase of corporate bonds, interbank operations at Point a Clause 2 Article 12; Point b Clause 3, Points a, b, đ, g Clause 5, Point b Clause 6, Clause 8 Article 14; Point a Clause 1 Article 15; Clause 3, Points a, d, đ Clause 4 Article 16; Clause 5, Clause 6 Article 17 of this Decree, the time of termination of the violation for calculating the statute of limitations is the date when the parties complete their obligations under the agreement or contract related to the administrative violation.

2. For violations concerning the publication, public display of information, provision of information, documents, reports at Clause 1 Article 8; Point a Clause 1 Article 12; Point a Clause 1 Article 13; Point c Clause 1 Article 14; Point c Clause 4 Article 17; Point d Clause 2 Article 21; Points a, c Clause 3 Article 23; Point a Clause 3 Article 24; Point a Clause 1 Article 30; Point a Clause 1 Article 38; Points a, b, d Clause 1, Clause 2, Points a, b, c Clauses 4, 5, 6 Article 47 of this Decree, the time of termination of the violation for calculating the statute of limitations is the date of publication, public display, provision of information, documents, reports, modification, supplementation of information, documents, reports.

3. For violations concerning registration, notification, implementation of administrative procedures, sending, issuing internal regulations, internal rules, plans at Article 7; Point b Clause 2 Article 8; Clauses d, đ, e, g Clause 3 Article 23; Point a Clause 2 Article 28; Points a, b, c Clause 3 Article 30; Point a Clause 1 Article 40 of this Decree, the time of termination of the violation for calculating the statute of limitations is the date of registration, notification, implementation of administrative procedures, sending, issuing, modifying, supplementing internal regulations, internal rules, plans.

4. For violations concerning the ratio of safety assurance, classification of assets, off-balance sheet commitments, provision and use of reserves to address risks at Article 35; Points a, b, c Clause 1 Article 36 of this Decree, the time of termination of the violation for calculating the statute of limitations is the date of compliance with the safety ratio, asset classification, off-balance sheet commitments, reserve provisioning, and use of reserves to address risks according to the provisions of the law.

5. For violations concerning changes that must be approved in writing by the State Bank at Article 5 of this Decree, the time of termination of the violation for calculating the statute of limitations is the date of written approval by the State Bank.”

4. Amending and supplementing several points of Clause 4 Article 3 as follows:

a) Amending and supplementing Point a Clause 4 as follows:

“a) Compelling payment into the state budget of unlawful profits obtained from implementing the violation; compelling refund of fees collected incorrectly to organizations and individuals who paid the fees; compelling return of funds embezzled to customers; compelling recovery of debts; compelling recovery of improperly used capital; compelling repayment of excess credit balances beyond limits; compelling return of altered or tampered licenses;”;

b) Amending and supplementing Points m, n Clause 4 as follows:

“m) Prohibition from entering into card payment contracts with other payment card organizations; prohibition from entering into agency payment contracts with other payment agency parties;

n) Requesting or requiring competent authorities to consider and apply measures such as revocation of licenses; revocation of foreign exchange agency registration certificates; revocation of licenses for opening and using foreign currency accounts abroad; revocation of licenses for establishing personal foreign exchange counters; revocation of approvals for providing non-account-based payment services; revocation of licenses for providing payment intermediary services; suspension or removal from management, operation, supervision positions; prohibition from assuming management, operation, supervision positions at credit institutions, foreign bank branches for individuals who violated and/or individuals responsible for the violation, requesting credit institutions, foreign bank branches to dismiss violators and implement other legal measures against violators within their authority;”;

c) Supplementing Points p, q following Point o Clause 4 as follows:

“p) Compelling cessation of agency payment activities; compelling separation of payment account exclusively for agency payment activities;

q) Compel compliance with regulations on customer identification, information updates, and verification; compel issuance of internal regulations in accordance with legal provisions; compel compliance with legal provisions regarding agency banking relationships, transactions related to new technologies, special monitoring of certain transactions, and risk assessment.

5. Add Article 3a following Article 3 as follows:

"Article 3a. Implementation of measures to address consequences

The implementation of certain measures to address consequences in the monetary and banking sector shall be as follows:

1. For remedial measures involving the proposal to competent authorities to apply: revocation of licenses; revocation of certificates for foreign exchange agency registration; revocation of licenses for opening and using foreign currency accounts abroad; revocation of licenses for individual foreign exchange counters; revocation of licenses for gold bullion trading; revocation of approvals for providing non-account-based payment services; revocation of licenses for providing payment intermediary services.

Within three working days from the date of issuing the administrative violation penalty decision, the person issuing the administrative violation penalty decision shall have the responsibility to send a document proposing that the competent authority consider and apply this remedial measure.

2. For remedial measures involving the proposal or request to competent authorities to apply: suspension or removal from managerial, operational, supervisory positions; prohibition from assuming managerial, operational, supervisory positions at credit institutions and foreign bank branches for individuals who violate and/or are responsible for the violation.

Within three working days from the date of issuing the administrative violation penalty decision, the person issuing the administrative violation penalty decision shall have the responsibility to send a document proposing or requesting that the competent authority consider and apply this remedial measure.

3. For remedial measures involving the compulsory return of altered or tampered licenses: based on the administrative violation penalty decision, the violator shall have the responsibility to return the altered or tampered license to the competent authority issuing the license."

6. Amend and supplement Clause 6, Clause 8 of Article 4 as follows:

a) Amend and supplement Clause 6 as follows:

"6. Fine from VND 400,000,000 to VND 500,000,000 for any of the following violations:

a) Operating without a license except as provided for in Point c Clause 8 Article 23, Clause 8 Article 24, Clause 5 Article 27 of this Decree;

b) Violating regulations on the use of terms related to banking activities as stipulated in Article 5 of the Law on Credit Institutions."

b) Supplement Point d following Point c Clause 8 as follows:

d) Compel the return of altered or tampered licenses for violations as stipulated in Point b Clause 3 of this Article."

7. Amend and supplement some points of Clause 2, Clause 5, and Clause 6 of Article 5 as follows:

“c) A Level 3 budget unit is a Bureau-level unit or equivalent directly under the Ministry of Public Security shall appoint a department-level leader responsible for financial and accounting functions to appoint an accounting manager; for a Level 3 budget unit that is a department-level unit or equivalent, if the organizational structure includes a team-level unit directly subordinate with at least 20 officers performing financial, accounting, logistics, or political-logistics functions, then a team-level commander should be appointed to appoint an accounting manager.”

"c) Establishing branches, transaction offices within the country; establishing representative offices, public service units within the country; branches, representative offices, wholly-owned foreign banks of credit institutions; inaugurating operations of branches, transaction offices within the country, post office transaction offices;"

b) Supplement Points c, d, đ following Point b Clause 5 as follows:

"c) Changing the branch managing transaction offices of credit institutions;

d) Voluntarily ceasing operations of branches, transaction offices of credit institutions;

đ) Implementing business content, banking business operations;"

c) Supplement Point đ following Point d Clause 6 as follows:

"đ) Providing non-account-based cashless payment services."

8. Amend and supplement Clause 3 of Article 10 as follows:

"3. Fine from VND 200,000,000 to VND 250,000,000 for any of the following violations:

a) Purchasing or holding shares of other credit institutions beyond the limits prescribed by the State Bank of Vietnam;

b) Contributing capital, purchasing, or receiving transferred shares of credit institutions not in accordance with Point c Clause 1 Article 54 of the Law on Credit Institutions."

9. Amend and supplement some points and clauses of Article 14 as follows:

a) Supplement Points d, đ, e, g following Point c Clause 1 as follows:

"d) Conducting and handling customer complaints in violation of the law on consumer loans of finance companies;

đ) Not organizing training for employees in accordance with the law on consumer loans of finance companies;

e) Violating the maximum limit on consumer loans as prescribed by the law on consumer loans of finance companies;

g) Not issuing interest rate frameworks for consumer loans during each period or issuing incomplete interest rate frameworks for consumer loans as prescribed by the law on consumer loans of finance companies."

b) Amend and supplement Clause 2 as follows:

"2. Fine from VND 15,000,000 to VND 20,000,000 for any of the following violations:

a) Not monitoring loan usage and repayment by customers as required by law;

b) Violating regulations on debt collection and recovery as prescribed by the law on consumer loans of finance companies."

c) Amend and supplement Point b Clause 3 as follows:

"b) Exempting or reducing interest rates on credit before issuing internal regulations;"

10. Add Article 14a following Article 14 as follows:

"Article 14a. Violations of regulations on service introduction points

Fine from VND 20,000,000 to VND 40,000,000 for any of the following violations:

1. Not signing a contract for the establishment of a service introduction point.

2. Contracts for the establishment of a service introduction point do not clearly define the responsibilities, rights, and duration of the contract for the parties involved.

3. Engaging in activities at service introduction points beyond the scope permitted by law."

11. Supplement Point đ following Point d Clause 4 Article 16 as follows:

"đ) Foreign bank branches purchasing convertible bonds."

12. Amend and supplement some points and clauses of Article 17 as follows:

a) Supplementing Point d following Point c of Clause 1 as follows:

"d) Conducting transactions in securities denominated in currencies not in accordance with the law;"

b) Supplement Point đ following Point d Clause 2 as follows:

"đ) Purchasing promissory notes, bills of exchange, deposit certificates with remaining periods not in accordance with the law."

c) Amending and supplementing Clause 5 as follows:

"5. A fine of VND 80,000,000 to VND 120,000,000 shall be imposed for any of the following violations:

a) Buying or selling securities that are not permitted to be traded on a fixed-term basis;

b) Buying or selling securities issued by financial companies or leasing finance companies in violation of the law."

13. Amend and supplement some points and clauses of Article 23 as follows:

a) Amend and supplement point g clause 4 as follows:

"g) Implementing the withdrawal of capital, repayment of foreign loans; disbursing and recovering debts from foreign loans; recovering guarantees for non-residents; transferring funds for foreign investment in Vietnam and Vietnamese investment abroad in violation of the law, except where this violation is a consequence of the violation at point d clause 4 of this Article;"

b) Supplement point i after point h clause 5 as follows:

"i) Failing to properly fulfill the responsibilities of a currency exchange agent as prescribed by law in cases of recurrence; acting as a currency exchange agent for two or more credit institutions simultaneously in violation of the law in cases of recurrence;"

c) Supplement point c after point b clause 6 as follows:

"c) Opening, closing, and using foreign currency accounts abroad in violation of the law in cases of recurrence;"

d) Amend and supplement clause 10 as follows:

"10. Measures to address consequences:

Proposing the competent authority to revoke the registration certificate for currency exchange agents, permission to open and use foreign currency accounts abroad, and permission to establish individual currency exchange counters for violations stipulated at point i clause 5 and point c clause 6 of this Article."

14. Amend and supplement clause 6, clause 10 of Article 24 as follows:

a) Amend and supplement Clause 6 as follows:

"6. A fine of VND 200,000,000 to VND 250,000,000 shall be imposed for any of the following violations:

a) Using imported raw gold not in accordance with the import permit for raw gold to produce jewelry and decorative items;

b) Engaging in the business of buying and selling gold bars through authorized agents in cases of recurrence;"

5. Amending and supplementing Clause 2 and Clause 3 of Article 9 as follows:

"10. Measures to address consequences:

Proposing the competent authority to revoke the license for buying and selling gold bars for violations stipulated at point b clause 6 of this Article."

15. Amend and supplement some points and clauses of Article 26 as follows:

a) Amending and supplementing point b Clause 2 as follows:

"b) Providing false information related to the use of payment services;"

b) Amend and supplement Point a of Clause 4 as follows:

"a) Providing false information related to the provision of payment services;"

c) Amending and supplementing Clause 5 as follows:

"5. A fine of VND 40,000,000 to VND 50,000,000 shall be imposed for any of the following violations:

a) Renting, lending, borrowing, lending out payment accounts, buying, selling payment account information with a quantity of one to less than ten payment accounts without reaching the level of criminal prosecution;

b) Counterfeiting payment instruments when providing or using payment services without reaching the level of criminal prosecution;"

d) Amending and supplementing Clause 6 as follows:

"6. A fine of VND 50,000,000 to VND 100,000,000 shall be imposed for any of the following violations:

a) Opening payment accounts for customers, allowing customers to use payment accounts in violation of the law during the provision of payment services;

b) Renting, lending, borrowing, lending out payment accounts, buying, selling payment account information with a quantity of ten or more payment accounts without reaching the level of criminal prosecution;

c) Counterfeiting, retaining, circulating, transferring, using counterfeit payment instruments without reaching the level of criminal prosecution;

d) Issuing, providing, using illegal payment instruments without reaching the level of criminal prosecution;

đ) Operating contrary to the approval of the State Bank regarding the provision of payment services without a customer's payment account;"

đ) Amend and supplement clause 7 as follows:

"7. A fine of VND 100,000,000 to VND 150,000,000 shall be imposed for any of the following violations:

a) Intruding or attempting to intrude, stealing data, destroying, making unauthorized changes to software programs, electronic data used in payments; taking advantage of system errors to profit without reaching the level of criminal prosecution;

b) Opening or maintaining anonymous or fake payment accounts;

c) Carrying out, organizing, or facilitating the following actions: using, exploiting payment accounts, payment instruments, payment services for gambling, organizing gambling, fraud, illegal business operations, and other violations of the law;

d) Stealing or colluding to steal payment account information without reaching the level of criminal prosecution;"

e) Amend and supplement clause 8 as follows:

"8. A fine of VND 150,000,000 to VND 200,000,000 shall be imposed for the following violations:

a) Violating cash payment regulations;

b) Providing payment services without being a payment service provider;"

g) Amend and supplement clause 10 as follows:

"10. Measures to address consequences:

a) Compelling the submission of unlawful profits obtained from implementing violations stipulated in clause 1, clause 4, clause 5, clause 6, clause 7, and clause 8 of this Article to the state budget;

b) Not allowing expansion of scope, scale, and operating area during the period of incomplete rectification of violations for violations stipulated at point a, point c, point d clause 6, point c clause 7, and point a clause 8 of this Article;

c) Proposing the competent authority to revoke the approval document for operating payment services without a customer's payment account for violations stipulated at point đ clause 6 of this Article."

16. Amend and supplement some points and clauses of Article 27 as follows:

a) Amend and supplement point a, Clause 1 as follows:

"a) Providing false information related to the provision or use of payment intermediary services;"

b) Amend and supplement Clause 2 as follows:

"2. Fine from VND 15,000,000 to VND 20,000,000 for any of the following violations:

a) Granting credit to customers using e-wallets, paying interest on e-wallet balances, or any action that may increase the monetary value in e-wallets compared to the amount deposited into the e-wallet;

b) Violating regulations on depositing money into e-wallets, withdrawing money from e-wallets;"

c) Amending and supplementing Clause 3 as follows:

"3. A fine of VND 20,000,000 to VND 30,000,000 shall be imposed for any of the following violations:

a) Disclosing, providing customer information, e-wallet balance information, and customer payment transactions at an intermediary payment service provider organization not in accordance with the provisions of the law;

b) Renting, leasing, lending, or borrowing e-wallets or buying, selling e-wallet information from one to less than ten e-wallets;

c) Violating the provisions on guarantee accounts for payments.";

d) Amending and supplementing Clause 4 as follows:

"4. A fine of VND 40,000,000 to VND 50,000,000 shall be imposed for one of the following violations:

a) Fraudulently falsifying documents proving eligibility for obtaining a license to provide intermediary payment services in the application dossier without reaching the level of criminal prosecution;

b) Erasing, altering the content recorded in the intermediary payment service operation license; buying, selling, transferring, leasing, lending intermediary payment service operation licenses; entrusting or appointing agents to other organizations or individuals to carry out activities permitted under the intermediary payment service operation license;

c) Operating outside the scope specified in the intermediary payment service operation license;

d) Renting, leasing, lending, or buying, selling e-wallet information from ten e-wallets or more;

đ) Forging documents when providing intermediary payment services without reaching the level of criminal prosecution;

e) Implementing, organizing the implementation, or creating conditions for the implementation of acts: using, exploiting intermediary payment services for gambling, organizing gambling, fraud, illegal business operations, and committing other violations of the law;

g) Violating the regulations on transaction limits through e-wallets;

h) Reporting untruthfully the balance and number of e-wallets as prescribed by law;

i) Opening or maintaining anonymous or impersonated e-wallets;

k) Stealing or colluding to steal e-wallet information;

l) An intermediary payment service provider implementing support collection, disbursement services, e-wallet services, electronic payment gateway services without having a cooperation agreement or service provision contract with banks or other organizations in accordance with the content of the License and the provisions of the law;

m) Not requiring customers to complete the linking of e-wallets with their bank account or debit card before using the e-wallet.";

đ) Supplement Clause 4a after Clause 4 as follows:

"4a. A fine of VND 50,000,000 to VND 60,000,000 shall be imposed for the act of reporting untruthfully the balance and number of e-wallets as prescribed by law in cases of recidivism.";

e) Amend and supplement Clause 6 as follows:

"6. Additional forms of punishment:

Confiscation of objects, means used to commit violations as prescribed in point đ Clause 4 Article 4 of this Law.";

g) Amend and supplement Clause 7 as follows:

"a) Compelling the submission of unlawful profits obtained from the implementation of violations prescribed in Clause 2, point b, c Clause 3, Clause 4, Clause 5 Article 4 of this Law into the State budget;

b) Proposing competent authorities to revoke the intermediary payment service operation license for violations at points a, b, c, e Clause 4; Clause 4a Article 4 of this Law;

c) Compelling the return of the license that has been erased or altered for violations prescribed in point b Clause 4 Article 4 of this Law.";

17. Amend and supplement some points and clauses of Article 28 as follows:

a) Amend and supplement point d Clause 5 as follows:

"d) Establishing contracts for issuing and using cards not in accordance with the provisions of the law.";

b) Amend and supplement Clause 6 as follows:

"6. A fine of VND 50,000,000 to VND 100,000,000 shall be imposed for any of the following violations:

a) Renting, leasing, buying, selling cards or card information, opening cards for others (except for anonymous prepaid cards) with a quantity of ten or more cards without reaching the level of criminal prosecution;

b) Issuing cards, processing card payments not in accordance with the provisions of the law;

c) Not refusing card payments in cases where cards are used to perform prohibited card transactions as prescribed by the law, cards reported lost by the cardholder, expired cards, locked cards, or cards used outside the agreed scope in the card issuance and usage contract or written agreement.";

c) Amend and supplement Clause 7 as follows:

"7. A fine of VND 100,000,000 to VND 150,000,000 shall be imposed for any of the following violations:

a) Implementing, organizing the implementation, or creating conditions for the implementation of the use of anonymous prepaid cards on the Internet, mobile applications, or cash withdrawal;

b) Processing card switching, settlement of card transactions, clearing of card transactions not in accordance with the provisions of the law on bank card operations;

c) Transferring card acceptance devices, QR Codes to other parties for use; accepting card payments without a card payment contract; using card acceptance devices, QR Codes improperly;

d) Implementing, organizing the implementation, or creating conditions for others to implement fraudulent card transactions, counterfeit card transactions; fictitious card payment transactions at card acceptance units (without the occurrence of goods sales and service provision);

đ) Stealing or colluding to steal card information without reaching the level of criminal prosecution.";

d) Amend and supplement Clause 9 as follows:

"9. Measures to mitigate consequences:

a) Compelling the submission of unlawful profits obtained from the implementation of violations prescribed in point b, c Clause 5; point a, c Clause 6 and Clause 7 of this Law into the State budget;

b) Not being allowed to sign card payment contracts with other card payment organizations during the period of not yet fully rectifying the violation for violations prescribed in point b Clause 5; point a, c, d Clause 7 of this Law.";

18. Supplement Article 28a after Article 28 as follows:

"Article 28a. Violations of regulations on payment agency activities

1. A fine of VND 5,000,000 to VND 10,000,000 shall be imposed for one of the following violations:

a) Providing inaccurate information related to the provision or use of payment agency activities;

b) Receiving, handling customer inquiries and complaints not in accordance with the provisions of the law;

c) Collecting fees outside the fee schedule stipulated and publicly announced by the principal;

d) Not segregating the payment account exclusively for payment agency activities as prescribed by the law;

đ) Not publicly announcing the list of payment agency partners who have signed contracts on the principal's website and application.

2. A fine of VND 40,000,000 to VND 50,000,000 shall be imposed for one of the following violations:

a) Exploiting the role of payment agent to carry out, organize the implementation, or create conditions for other organizations or individuals to carry out fraudulent transactions, counterfeit transactions, theft of customers' funds, money laundering transactions, terrorist financing transactions, financing of the proliferation of weapons of mass destruction, and other illegal acts;

b) Performing payment agency operations not agreed upon in the payment agency contract between the entrusting party and the payment agent;

3. A fine of from 50,000,000 VND to 100,000,000 VND shall be imposed on any of the following violations:

a) Engaging in the entrusting of agency activities or acting as a payment agent in a manner inconsistent with the content recorded in the License for Establishment and Operation, the License for Establishment, or the Decision stipulating the organization and operation of the competent authority deciding and the amended and supplemented License (if any);

b) The entrusting party violates the regulations on the number of payment agent points and transaction limits for each payment agent point;

c) The payment agent, which is not a credit institution or a foreign bank branch, entrusts the agency to a third party;

d) Engaging in payment agency activities without signing a payment agency activity contract with the entrusting payment agent;

đ) The entrusting party signs a payment agency activity contract with a payment agent that is not a legally established enterprise and has overdue debts classified as bad debts by credit institutions or foreign bank branches according to the regulations of the State Bank;

e) Counterfeiting or impersonating the payment agent;

4. Measures to remedy consequences:

a) Order the violator to pay into the state budget the unlawful profits obtained from the violation as specified in point b, Clause 2, and Clause 3 of this Article;

b) Order the cessation of payment agency activities for violators of the violations as specified in Clause 2 and Clause 3 of this Article;

c) Order the separation of the settlement account exclusively used for payment agency activities for the violation as specified in point d, Clause 1 of this Article;

d) Prohibit entering into payment agency contracts with other entrusting parties during the period when the violation as specified in points c and d, Clause 1 of this Article has not been fully remedied;

đ) Order the refund of improperly collected fees to the organizations or individuals who paid the fees; if the recipient cannot be identified, then deposit the amount into the state budget for the violation as specified in point c, Clause 1 of this Article;

e) Order the refund of the amount embezzled to the customer for the act aimed at embezzling the customer's funds as specified in point a, Clause 2 of this Article.";

19. Amend and supplement some points of Clause 1, Clause 2, and Clause 3 of Article 30 as follows:

a) Amend and supplement point a, Clause 1 as follows:

"a) Not publicly posting at the place of business samples and regulations on the collection, exchange of non-circulation standard currency issued by the State Bank;"

b) Amend and supplement Clause 2 as follows:

"2. A fine of from 5,000,000 VND to 10,000,000 VND shall be imposed on the failure to comply with the regulations on classification, packaging, delivery and receipt of precious metals and gems; packaging, sealing, delivery and receipt, storage, transportation, inventory of cash, valuable assets, securities, except for the cases specified in point a, Clause 3, and points b, c, d, đ of Clause 5 of this Article.";

c) Supplement point đ after point d of Clause 3 as follows:

"đ) Refusing to exchange non-circulation standard currency for customers in violation of the law.";

20. Amend and supplement point c of Clause 1 of Article 31 as follows:

"c) Assigning personnel to collect counterfeit money, temporarily collect suspected counterfeit money without training on recognizing genuine and counterfeit money or without professional training in money authentication;"

21. Amend and supplement the name of Section 12 of Chapter II as follows:

"Section 12. VIOLATIONS OF THE PROVISIONS ON PREVENTION AND COMBATING MONEY LAUNDERING; PREVENTION AND COMBATING TERRORIST FINANCING; PREVENTION AND COMBATING FINANCING OF WEAPONS OF MASS DESTRUCTION PROLIFERATION";

22. Amend and supplement Article 39 as follows:

"Article 39. Violations of provisions on customer due diligence, updating, and verification of customer information

1. A fine of from 100,000,000 VND to 150,000,000 VND shall be imposed on any of the following violations:

a) Failure to conduct customer due diligence; failure to update; failure to verify customer information or conducting customer due diligence; updating; verifying customer information not in accordance with the provisions of Articles 8, 9, 10, and 11 of the Law on Prevention and Combating Money Laundering and the Law on Prevention and Combating Terrorism;

b) Failure to update lists of organizations and individuals related to terrorism and terrorist financing; organizations and individuals designated as involved in the proliferation and financing of weapons of mass destruction.

2. A fine of from 150,000,000 VND to 250,000,000 VND shall be imposed on the failure to ensure the confidentiality of information and documents required to be reported under Article 29 of the Law on Prevention and Combating Money Laundering and the Law on Prevention and Combating Terrorism.

3. Measures to remedy consequences:

a) Order the violator to comply with the provisions on customer due diligence; updating; verification of customer information as stipulated in Articles 8, 9, 10, and 11 of the Law on Prevention and Combating Money Laundering and the Law on Prevention and Combating Terrorism for the violation as specified in point a, Clause 1 of this Article;

b) Recommend or request the competent authority to consider and apply measures prohibiting the assumption of management, operational, supervisory positions at credit institutions or foreign bank branches for the individual violator and/or the responsible individual for the violation as specified in Clause 1 and Clause 2 of this Article.

Require credit institutions or foreign bank branches to dismiss the violator and take other measures as prescribed by law for the violator within their jurisdiction.";

23. Amend and supplement Article 40 as follows:

"Article 40. Violations of internal regulations on prevention and combating money laundering, terrorist financing, and financing of weapons of mass destruction proliferation

1. A fine of from 200,000,000 VND to 300,000,000 VND shall be imposed on any of the following violations:

a) Failure to issue internal regulations or issuing internal regulations not in accordance with the laws on prevention and combating money laundering, prevention and combating terrorist financing, and prevention and combating financing of weapons of mass destruction proliferation;

b) Failing to assign or failing to register the assignment or assigning officers or units responsible for anti-money laundering and anti-terrorism financing activities in accordance with the provisions of the law;

c) Failing to conduct internal audit or conducting internal audit not in accordance with the provisions of the law on anti-money laundering and anti-terrorism financing;

d) Failing to train or failing to train in accordance with the provisions of the law on anti-money laundering and anti-terrorism financing;

2. Measures to remedy consequences

Order to promulgate internal regulations in accordance with the provisions of the law or immediately revoke internal regulations containing contents that do not comply with the provisions of the law for violations stipulated in point a, Clause 1, Article of this Law.

24. Amend and supplement Article 41 as follows:

"Article 41. Violation of customer classification regulations according to risk levels

A fine of VND 150,000,000 to VND 200,000,000 shall be imposed for the act of not classifying customers according to risk levels or classifying customers according to risk levels not in accordance with the provisions of Clause 2, 3, and 4 of Article 12 of the Anti-Money Laundering Law, the Anti-Terrorism Law, and laws on preventing the proliferation of weapons of mass destruction."

25. Amend and supplement Article 42 as follows:

"Article 42. Violation of regulations on identifying foreign individuals with political influence as customers

A fine of VND 150,000,000 to VND 200,000,000 shall be imposed for the act of not having a risk management system to identify foreign individuals with political influence as customers in accordance with Clauses 2 and 3 of Article 13 of the Anti-Money Laundering Law."

26. Amend and supplement Article 43 as follows:

"Article 43. Violation of regulations on correspondent banking relationships, transactions related to new technologies, and special transaction monitoring

1. A fine of VND 150,000,000 to VND 200,000,000 shall be imposed for one of the following violations:

a) Failing to apply measures prescribed in Article 14 of the Anti-Money Laundering Law when establishing a correspondent banking relationship with a foreign partner bank;

b) Failing to issue procedures as prescribed in Article 15 of the Anti-Money Laundering Law.

2. A fine of VND 200,000,000 to VND 300,000,000 shall be imposed for the act of failing to monitor certain transactions specially as prescribed in Article 16 of the Anti-Money Laundering Law.

3. Measures to remedy consequences:

a) Order to implement measures prescribed in Article 14 of the Anti-Money Laundering Law for violations stipulated in point a, Clause 1 of this Article;

b) Order to issue procedures as prescribed in Article 15 of the Anti-Money Laundering Law for violations stipulated in point b, Clause 1 of this Article;

c) Order to monitor certain transactions specially as prescribed in Article 16 of the Anti-Money Laundering Law for violations stipulated in point c, Clause 1 of this Article;

d) Recommend or request competent authorities to consider and apply measures prohibiting the assumption of managerial, operational, or supervisory positions at credit organizations or foreign bank branches for violators and/or persons responsible for violations stipulated in Clause 1 and Clause 2 of this Article.

Require credit institutions or foreign bank branches to dismiss the violator and take other measures as prescribed by law for the violator within their jurisdiction.";

27. Amend and supplement Article 44 as follows:

"Article 44. Violation of regulations on reporting large-value transactions, suspicious transactions, electronic fund transfer transactions, money laundering activities aimed at terrorism financing, terrorist financing, and financing the proliferation of weapons of mass destruction

1. A fine of VND 80,000,000 to VND 120,000,000 shall be imposed for the act of failing to report within the time limit prescribed by the law on anti-money laundering and anti-terrorism financing.

2. A fine of VND 150,000,000 to VND 250,000,000 shall be imposed for one of the following violations:

a) Failing to report large-value transactions;

b) Failing to report suspicious transactions related to money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction;

c) Failing to report electronic fund transfer transactions;

d) Failing to report money laundering activities aimed at terrorism financing as prescribed in Article 30 of the Anti-Money Laundering Law, failing to report when there is suspicion that customers or their transactions are related to terrorist financing, financing the proliferation of weapons of mass destruction, or customers listed in blacklists or designated lists under the Anti-Terrorism Law and laws on preventing the proliferation of weapons of mass destruction.

3. Measures to remedy consequences

a) Order to resubmit complete and accurate reports for violations stipulated in this Article;

b) Recommend or request competent authorities to consider and apply measures suspending or removing from managerial, operational, or supervisory positions; prohibiting the assumption of managerial, operational, or supervisory positions at credit organizations or foreign bank branches for violators and/or persons responsible for violations stipulated in this Article.

Require credit institutions or foreign bank branches to dismiss the violator and take other measures as prescribed by law for the violator within their jurisdiction.";

28. Supplement Article 44a after Article 44 as follows:

"Article 44a. Violation of information provision regulations

1. A fine of VND 150,000,000 to VND 250,000,000 shall be imposed for the act of failing to provide information, providing false information, or providing information not in accordance with the Anti-Money Laundering Law, laws on preventing terrorist financing, and laws on preventing the financing of the proliferation of weapons of mass destruction without reaching the level of criminal prosecution.

2. Measures to remedy consequences

a) Order to immediately correct false information for violations stipulated in this Article;

b) Recommend or request competent authorities to consider and apply measures suspending or removing from managerial, operational, or supervisory positions; prohibiting the assumption of managerial, operational, or supervisory positions at credit organizations or foreign bank branches for violators and/or persons responsible for violations stipulated in this Article.

Require credit institutions or foreign bank branches to dismiss the violator and take other measures as prescribed by law for the violator within their jurisdiction.";

29. Amend and supplement Article 45 as follows:

"Article 45. Violation of regulations on delaying transactions, freezing accounts; sealing or temporarily holding assets

1. A fine of VND 150,000,000 to VND 250,000,000 shall be imposed for one of the following violations:

a) Failing to report delayed transactions when parties involved in the transaction are on the blacklist or there is reasonable cause to believe that the requested transaction is related to criminal activities as prescribed in Clause 3, Article 33 of the Anti-Money Laundering Law;

b) Failing to report the implementation of account freezing, sealing, or temporary asset holding when there is a decision by authorized state agencies as prescribed in Article 34 of the Anti-Money Laundering Law;

c) Failing to immediately report when implementing the suspension of circulation, freezing of funds and assets related to terrorist financing, and the proliferation of weapons of mass destruction as prescribed by law.

2. A fine of from VND 250,000,000 to VND 350,000,000 shall be imposed for any of the following violations:

a) Failing to apply transaction delay measures when the parties involved in the transaction are on the blacklist or there is reasonable cause to believe that the requested transaction is related to criminal activities as stipulated in Clause 1 of Article 33 of the Law on Anti-Money Laundering and Counter-Terrorist Financing.

b) Failing to freeze bank accounts, failing to apply sealing or temporary detention measures on assets when there is a decision by a competent state agency as prescribed in Article 34 of the Law on Anti-Money Laundering and Counter-Terrorist Financing.

c) Failing to immediately implement the suspension of circulation, freezing of funds and assets related to terrorism, terrorist financing, and the proliferation of weapons of mass destruction as prescribed by law.

3. Measures to remedy consequences:

a) Compel the submission of a complete and accurate report for the violation prescribed in Clause 1 of this Article.

b) Propose or request the competent authority to consider and apply measures to suspend or remove from office the management, operational, or supervisory positions; prohibit from assuming management, operational, or supervisory positions at credit organizations, foreign bank branches for individuals who violate and/or are responsible for the violations prescribed in Clause 1 and Clause 2 of this Article.

Require credit institutions or foreign bank branches to dismiss the violator and take other measures as prescribed by law for the violator within their jurisdiction.";

30. Supplement Article 45a after Article 45 as follows:

"Article 45a. Violation of risk assessment provisions

1. A fine of VND 150,000,000 to VND 250,000,000 shall be imposed for one of the following violations:

a) Failing to conduct, update the results of money laundering and terrorist financing risk assessments as prescribed by law on anti-money laundering and counter-terrorist financing.

b) Failing to issue, update policies and procedures for managing risks identified from money laundering and terrorist financing risk assessment reports as prescribed by law on anti-money laundering and counter-terrorist financing.

c) Failing to submit, disseminate, or publicly disclose the results of money laundering and terrorist financing risk assessments or updates as prescribed by law on anti-money laundering and counter-terrorist financing.

2. Measures to remedy consequences:

a) Compel compliance with the provisions on conducting money laundering and terrorist financing risk assessments as prescribed by law on anti-money laundering and counter-terrorist financing for violations prescribed in Clause 1 of this Article.

b) Propose the competent authority to consider and apply measures to suspend or remove from office the management, operational, or supervisory positions; prohibit from assuming management, operational, or supervisory positions at credit organizations, foreign bank branches for individuals who violate and/or are responsible for the violations prescribed in this Article.

Require credit institutions or foreign bank branches to dismiss the violator and take other measures as prescribed by law for the violator within their jurisdiction.";

31. Amend and supplement Article 46 as follows:

"Article 46. Violation of prohibited acts in anti-money laundering and counter-terrorist financing

1. A fine of from VND 150,000,000 to VND 250,000,000 shall be imposed for obstructing the provision of information for anti-money laundering and counter-terrorist financing work.

2. A fine of from VND 300,000,000 to VND 400,000,000 shall be imposed for any of the following violations:

a) Establishing or maintaining anonymous accounts or accounts using false names;

b) Illegally providing cash receipt services, checks, other monetary instruments, or value storage tools and making payments to beneficiaries at a different location.

3. A fine of from VND 400,000,000 to VND 500,000,000 shall be imposed for any of the following violations:

a) Organizing or facilitating money laundering activities that have not reached the level of criminal prosecution;

b) Establishing and maintaining business relationships with banks established in a country or territory but without a physical presence in that country or territory and not subject to the supervision of the competent regulatory authority;

c) Failing to report terrorist financing activities that have not reached the level of criminal prosecution;

d) Exploiting the suspension of circulation, freezing, sealing, temporary detention, or handling of funds and assets related to terrorist financing to infringe upon the interests of the State, the rights, and legitimate interests of agencies, organizations, or individuals;

đ) Directly or indirectly providing funds, assets, financial resources, economic resources, financial services, or other services to organizations or individuals associated with terrorism or terrorist financing.

4. Measures to remedy consequences:

Propose or request the competent authority to consider and apply measures to suspend or remove from office the management, operational, or supervisory positions; prohibit from assuming management, operational, or supervisory positions at credit organizations, foreign bank branches for individuals who violate and/or are responsible for the violations prescribed in Clauses 2 and 3 of this Article.

Require credit institutions or foreign bank branches to dismiss the violator and take other measures as prescribed by law for the violator within their jurisdiction.";

32. Amend and supplement point a Clause 4, point b Clause 7 of Article 47 as follows:

a) Amending and supplementing Point a Clause 4 as follows:

"a) Submitting false reports, except in cases prescribed in point h Clause 4 of Article 27 of this Decree;"

b) Amend and supplement point b Clause 7 as follows:

"b) Prohibit expanding the scope, scale, operating area, and adding new business operations during the period of non-compliance with the violations prescribed in points a, b, d Clause 1; Clause 2 and Clause 5 of this Article;"

33. Amend and supplement point a Clause 5 of Article 48 as follows:

"a) Providing false information or documents;"

34. Amend and supplement the name of the Article and some points of Clause 1, Clause 2, Clause 3 of Article 53 as follows:

a) Amend and supplement the name as follows:

"Article 53. Competence to impose administrative penalties of the Banking Inspection and Supervision"

b) Amend and supplement point c clause 1 as follows:

"c) Confiscate administrative violation objects and means with a value not exceeding VND 1,000,000;"

c) Amend and supplement point c Clause 2 as follows:

"c) Confiscate administrative violation objects and means with a value not exceeding VND 100,000,000;"

d) Amend and supplement point c Clause 3 as follows:

"c) Confiscate administrative violation objects and means with a value not exceeding VND 500,000,000;"

35. Amend and supplement Article 54 as follows:

"Article 54. Competence to impose administrative penalties of the Chairpersons of People's Committees at all levels

1. The Chairperson of the People's Committee at the commune level has the right to:

a) To issue warnings;

b) To impose fines up to VND 5,000,000;

c) Confiscate administrative violation objects and means with a value not exceeding VND 10,000,000.

2. The Chairperson of the People's Committee at the district level has the right to:

a) To issue warnings;

b) Impose a fine up to VND 100,000,000.

c) To suspend the use of licenses or certificates for a period of time or to suspend operations for a period of time;

d) Confiscate contraband and means of administrative violation;

đ) Apply remedial measures prescribed in Clause 4, Article 3 of this Decree;

3. The Chairman of the Provincial People's Committee has the authority to:

a) To issue warnings;

b) Impose a fine up to 1,000,000,000 VND;

c) To suspend the use of licenses or certificates for a period of time or to suspend operations for a period of time;

d) Confiscate contraband and means of administrative violation;

đ) Apply remedial measures prescribed in Clause 4, Article 3 of this Decree.";

36. Supplement Article 54a following Article 54 as follows:

"Article 54a. Administrative Penalty Authority of the People's Public Security

1. People's Public Security soldiers performing their duties have the right to:

a) To issue warnings;

b) Impose a fine up to 500,000 VND.

2. The Head of the Mobile Police Company at battalion level, the Station Chief, and the Team Leader as specified in Clause 1 of this Article have the authority to:

a) To issue warnings;

b) Impose a fine up to 1,500,000 VND.

3. The Chief of the Police Station at commune level, the Chief of the Police Post, the Chief of the Border Gate Police Station, the Chief of the Industrial Zone Police Station, the Chief of the International Airport Border Gate Police Station, the Battalion Commander of the Mobile Police Battalion, and the Flotilla Commander have the authority to:

a) To issue warnings;

b) Impose fines up to 2,500,000 VND;

c) Confiscate contraband and means of administrative violation with a value not exceeding 5,000,000 VND.

4. The Chief of the County Police; the Head of the Department under the Political Security Branch; the Head of the Department under the Administrative Management Police Branch for Social Order; the Head of the Department under the Traffic Police Branch; the Head of the Department under the Fire Prevention, Fighting and Rescue Branch; the Head of the Department under the Cybersecurity and High-Tech Crime Prevention Branch; the Head of the Department under the Exit and Entry Administration Branch; the Head of the Provincial Police Departments including: the Head of the Political Security Department, the Head of the Administrative Management Police Department for Social Order, the Head of the Social Order Crime Investigation Department, the Head of the Corruption, Economy, Smuggling Crime Investigation Department, the Head of the Drug Crime Investigation Department, the Head of the Traffic Police Department, the Head of the Road Traffic Police Department, the Head of the Road Traffic Police Department, the Head of the Waterway Police Department, the Head of the Mobile Police Department, the Head of the Protective Police Department, the Head of the Criminal Enforcement and Judicial Support Department, the Head of the Environmental Crime Prevention Department, the Head of the Fire Prevention, Fighting and Rescue Department, the Head of the Cybersecurity and High-Tech Crime Prevention Department, the Head of the Exit and Entry Administration Department, the Head of the Economic Security Department, the Head of the Foreign Security Department, the Brigade Commander of the Mobile Police Brigade, and the Flotilla Commander have the authority to:

a) To issue warnings;

b) To impose fines up to VND 25,000,000;

c) Confiscate contraband and means of administrative violation with a value not exceeding 50,000,000 VND;

d) Revoke the right to use a time-limited license or certificate of practice or suspend operations for a time-limited period;

đ) Apply remedial measures prescribed in Point e, Clause 4, Article 3 of this Decree.

5. The Director of the Provincial Police Department has the authority to:

a) To issue warnings;

b) Impose a fine up to VND 100,000,000.

c) To suspend the use of licenses or certificates for a period of time or to suspend operations for a period of time;

d) Confiscate contraband and means of administrative violation;

đ) Apply remedial measures prescribed in Points a, e, g, k, n, p, Clause 4, Article 3 of this Decree.

6. The Director of the Political Security Branch, the Director of the Economic Security Branch, the Director of the Administrative Management Police Branch for Social Order, the Director of the Social Order Crime Investigation Branch, the Director of the Corruption, Economy, Smuggling Crime Investigation Branch, the Director of the Drug Crime Investigation Branch, the Director of the Traffic Police Branch, the Director of the Fire Prevention, Fighting and Rescue Branch, the Director of the Environmental Crime Prevention Branch, the Director of the Cybersecurity and High-Tech Crime Prevention Branch, the Director of the Internal Security Branch, the Director of the Detention, Custody and Community Criminal Enforcement Branch, the Director of the Exit and Entry Administration Branch, and the Commander of the Mobile Police Force have the authority to:

a) To issue warnings;

b) Impose a fine up to 1,000,000,000 VND;

c) To suspend the use of licenses or certificates for a period of time or to suspend operations for a period of time;

d) Confiscate contraband and means of administrative violation;

đ) Apply remedial measures prescribed in Points a, e, g, k, n, p, Clause 4, Article 3 of this Decree.";

37. Supplement Article 54b following Article 54a as follows:

"Article 54b. Administrative Penalty Authority of the Border Guard

1. Border Guard soldiers performing their duties have the right to:

a) To issue warnings;

b) Impose a fine up to 500,000 VND.

2. The station chief, team leader of those specified in Clause 1 of this Article have the right to:

a) To issue warnings;

b) Impose a fine up to 2,500,000 VND.

3. The team leader of the Special Task Force against Drugs and Crime under the Special Task Force against Drugs and Crime have the right to:

a) To issue warnings;

b) Impose fines up to 10,000,000 VND;

c) Confiscate contraband and means of administrative violation with a value not exceeding 20,000,000 VND.

4. The border post commander, the maritime squadron commander, the commander-in-chief of the Border Guard Command at the port gate have the right to:

a) To issue warnings;

b) To impose fines up to VND 25,000,000;

c) Confiscate contraband and means of administrative violation with a value not exceeding 50,000,000 VND.

5. The team leader of the Special Task Force against Drugs and Crime under the Drug and Crime Prevention Department of the Border Guard Command have the right to:

a) To issue warnings;

b) Impose a fine up to VND 100,000,000.

c) Confiscate contraband and means of administrative violation with a value not exceeding 200,000,000 VND.

6. The Commander of the Provincial Border Guard; the Flotilla Commander of the Border Guard Flotilla, and the Director of the Counter-Narcotics and Crime Prevention Unit directly under the Border Guard Command have the authority to:

a) To issue warnings;

b) Impose a fine up to 1,000,000,000 VND;

c) To suspend the use of licenses or certificates for a period of time or to suspend operations for a period of time;

d) Confiscate contraband and means of administrative violation.";

38. Supplement Article 54c following Article 54b as follows:

"Article 54c. Administrative Penalty Authority of the Coast Guard

1. Coast Guard officers performing their duties have the right to:

a) To issue warnings;

b) Impose a fine up to 1,500,000 VND.

2. The head of the Coast Guard business affairs team have the right to:

a) To issue warnings;

b) Impose a fine up to 5,000,000 VND.

3. The head of the Coast Guard business affairs team, the station chief of the Coast Guard station have the right to:

a) To issue warnings;

b) Impose fines up to 10,000,000 VND;

4. The maritime squadron commander have the right to:

a) To issue warnings;

b) To impose fines up to VND 25,000,000;

c) Confiscate contraband and means of administrative violation with a value not exceeding 50,000,000 VND.

5. The Flotilla Commander of the Coast Guard Flotilla, the Squadron Commander of the Reconnaissance Squadron, and the Squadron Commander of the Special Task Force against Narcotics Crimes under the Vietnam Coast Guard Command have the authority to:

a) To issue warnings;

b) To impose fines up to VND 50,000,000;

c) Confiscate contraband and means of administrative violation with a value not exceeding 100,000,000 VND.

6. The Commander of the Coast Guard Region, and the Director of the Operations and Legal Affairs Bureau under the Vietnam Coast Guard Command have the authority to:

a) To issue warnings;

b) Impose a fine up to VND 100,000,000.

c) Revoke the right to use a time-limited license or certificate of practice.

d) Confiscate contraband and means of administrative violation.

7. The commander of the Vietnam Coast Guard have the right to:

a) To issue warnings;

b) Impose a fine up to 1,000,000,000 VND;

c) To suspend the use of licenses or certificates for a period of time or to suspend operations for a period of time;

d) Confiscate contraband and means of administrative violation.";

39. Supplement Article 54d following Article 54c as follows:

"Article 54d. Administrative Penalty Authority of the Market Management

1. Market inspectors performing their duties have the right to:

a) To issue warnings;

b) Impose a fine up to 500,000 VND.

2. The Team Leader of the Market Management Team, and the Head of the Department under the Market Management Operations Bureau have the authority to:

a) To issue warnings;

b) To impose fines up to VND 25,000,000;

c) Confiscate contraband and means of administrative violation with a value not exceeding 50,000,000 VND.

3. The Director of the Provincial Market Management Bureau, and the Director of the Market Management Operations Bureau directly under the General Market Management Bureau have the authority to:

a) To issue warnings;

b) To impose fines up to VND 50,000,000;

c) To confiscate objects and means of administrative violations;

d) Suspend the right to use business licenses and professional certificates for a period of time or suspend operations for a period of time.

4. The Director of the General Market Management Bureau has the authority to:

a) To issue warnings;

b) Impose a fine up to 1,000,000,000 VND;

c) To confiscate objects and means of administrative violations;

d) Suspend the right to use business licenses and professional certificates for a period of time or suspend operations for a period of time.";

40. Supplement Article 54đ following Article 54d as follows:

"Article 54đ. Authority of the Tourism Inspection

1. The Inspector, and the person assigned to perform specialized inspection tasks while on duty have the authority to:

a) To issue warnings;

b) Impose a fine up to 500,000 VND.

2. The Chief Inspector of the Department, and the Head of the Specialized Inspection Team at the Department level have the authority to:

a) To issue warnings;

b) To impose fines up to VND 50,000,000;

c) To suspend the use of licenses or certificates for a period of time or to suspend operations for a period of time;

d) Confiscate contraband and means of administrative violation with a value not exceeding 100,000,000 VND;

đ) Apply remedial measures prescribed in Point n, Clause 4, Article 3 of this Decree.

3. The Head of the Specialized Inspection Team at the Ministry level have the authority to:

a) To issue warnings;

b) Impose a fine up to 250,000,000 VND;

c) To suspend the use of licenses or certificates for a period of time or to suspend operations for a period of time;

d) Confiscate property and means of administrative violation with a value not exceeding five hundred million Vietnamese dong;

đ) Apply remedial measures prescribed in Point n, Clause 4, Article 3 of this Decree.

4. The Director of the Inspection Department under the Ministry has the authority:

a) To issue warnings;

b) Impose a fine up to 1,000,000,000 VND;

c) To suspend the use of licenses or certificates for a period of time or to suspend operations for a period of time;

d) Confiscate contraband and means of administrative violation;

đ) To apply measures to remedy consequences as prescribed in point n, Clause 4, Article 3 of this Decree.”

41. Supplement Article 54e following Article 54d as follows:

“Article 54e. Authority to impose administrative penalties of Customs

The Director-General of the General Department of Customs has the authority to impose fines up to one billion Vietnamese dong.”

42. Supplement Article 54g following Article 54e as follows:

“Article 54g. Authority to impose administrative penalties of the National Competition Commission

The Chairman of the National Competition Commission has the authority:

1. To issue warnings.

2. To impose fines up to one billion Vietnamese dong.

3. To revoke licenses and certificates of practice for a period of time or suspend operations for a period of time.

4. To confiscate property and means of administrative violation.

5. To apply measures to remedy consequences as prescribed in point n, Clause 4, Article 3 of this Decree.”

43. Amend and supplement Article 55 as follows:

“Article 55. Division of authority to impose administrative penalties in the field of finance and banking

1. Authority to impose administrative penalties of the Chairmen of People's Committees at all levels

The Chairmen of People's Committees at all levels have the authority to impose administrative penalties on violations of administrative acts prescribed in Chapter II of this Decree according to their assigned authorities, functions, tasks, and powers.

2. Authority to impose administrative penalties of the Market Management Agency

The person authorized to impose administrative penalties of the Market Management Agency imposes penalties on violations of administrative acts prescribed in Clause 1, Clause 2, points a, b, h, i, k, l of Clause 3, points n, o of Clause 4, points e, g, h of Clause 5, point c of Clause 8 of Article 23; Clause 1, Clause 2, point a of Clause 3, point a of Clause 4, point a of Clause 6, Clause 7, points a, c of Clause 8 of Article 24 of this Decree.

3. Authority to impose administrative penalties of the Border Guard Force

The person authorized to impose administrative penalties of the Border Guard Force imposes penalties on violations of administrative acts prescribed in Clause 1, Clause 2, points h, i, k of Clause 3, point h of Clause 4, points e, g, h of Clause 5 of Article 23; Clause 1, Clause 2, Clause 4 of Article 24; point c of Clause 4 of Article 47; Clause 3 of Article 48, point a of Clause 5 of Article 48 of this Decree.

4. Authority to impose administrative penalties of the Coast Guard

The person authorized to impose administrative penalties of the Coast Guard imposes penalties on violations of administrative acts prescribed in Clause 1, Clause 2, points h, i, k of Clause 3, point h of Clause 4, points e, g, h of Clause 5, point b of Clause 8 of Article 23; Clause 1, Clause 2, points a, b of Clause 4, point c of Clause 5, point a of Clause 6, points a, b of Clause 8 of Article 24 of this Decree.

5. Authority to impose administrative penalties of the Public Security Force

The person authorized to impose administrative penalties of the Public Security Force imposes penalties on violations of administrative acts prescribed in Clauses 3, 4, and 5 of Article 4; Clause 1, Clause 2, points a, b, c, h, i, k, l of Clause 3, points h, n, o of Clause 4, points c, e, g, h of Clause 5, point c of Clause 8 of Article 23; Clause 1, Clause 2, Clause 3, Clause 4, points a, c of Clause 5, Clause 6, Clause 7, Clause 8 of Article 24; point b of Clause 2, Clause 5, Clause 6, Clause 7 of Article 26; point a of Clause 1, points a, b of Clause 3, points a, b, c, d, đ, e, i, k of Clause 4, Clause 5 of Article 27; points c, d of Clause 5, Clause 6, Clause 7 of Article 28; point a of Clause 1, points a of Clause 2, point e of Clause 3 of Article 28a; point c of Clause 3, Clause 4 of Article 30; Article 31; Clause 2 of Article 39; Article 44; Article 45; Article 46; point c of Clause 4 of Article 47; Article 48; point b of Clause 1, point c of Clause 2 of Article 52 of this Decree.

6. Authority to impose administrative penalties of the Specialized Tourism Inspectorate

The person authorized to impose administrative penalties of the Specialized Tourism Inspectorate imposes penalties on violations of administrative acts prescribed in Clause 1, Clause 2, points a, b, c, h, i, k, l of Clause 3, points b, n, o of Clause 4, points e, g, h of Clause 5 of Article 23 of this Decree.

7. Authority to impose administrative penalties of Customs

The Director-General of the General Department of Customs imposes penalties on violations of administrative acts prescribed in point b of Clause 8 of Article 23, point c of Clause 5, point b of Clause 8 of Article 24 of this Decree.

8. Authority to impose administrative penalties of the Chairman of the National Competition Commission

The Chairman of the National Competition Commission imposes penalties on violations of administrative acts prescribed in Clause 1, Clause 2, points h, i, k of Clause 3, points e, g, h of Clause 5 of Article 23; Clause 1 of Article 24 of this Decree.

9. Authority to impose administrative penalties of the Banking Supervision and Inspection Agency

The person authorized to impose administrative penalties of the Banking Supervision and Inspection Agency has the authority to impose administrative penalties and apply measures to remedy consequences on violations of administrative acts prescribed in Chapter II of this Decree according to their assigned authorities, functions, tasks, and powers.”

44. Amend and supplement Clause 1, Clause 2 of Article 56 as follows:

“1. The persons authorized to impose penalties as prescribed in Articles 53, 54, 54a, 54b, 54c, 54d, 54đ, 54e, 54g of this Decree.

2. Persons belonging to the People's Army and the Public Security Force in agencies prescribed in this Decree while performing official duties or tasks pursuant to legal regulations or administrative documents issued by competent authorities or persons; pilots, captains, masters, and those assigned tasks by pilots, captains, and masters to prepare records.”

Article 2. Abolish certain provisions in Decree No. 88/2019/NĐ-CP dated November 14, 2019 of the Government on administrative penalties for violations in the field of currency and banking.

1. Abolish the phrase "confiscate licenses that have been erased or altered" at Point c Clause 2 Article 3.

2. Abolish Clause 7 Article 4; Clause 1 Article 5.

3. Abolish the term "forgery" at Point a Clause 4 Article 4; Clause 2 Article 18.

This Circular takes effect from December 25, 2025/.

The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of government agencies, Chairpersons of provincial People's Committees under the central city, and related agencies shall be responsible for implementing this Decree.

Article 4. Implementation provisions

1. This Decree takes effect from January 1, 2022.

2. Transitional Provisions

a) For violations occurring and concluded before the date this Decree comes into force, if discovered or being considered for an administrative penalty decision when this Decree has taken effect, apply the provisions of this Decree if it does not provide for legal liability or provides for lighter legal liability.

b) For administrative penalty decisions in the field of currency and banking that have been issued or fully executed before the date this Decree takes effect, where the individual or organization subject to the administrative penalty still lodges a complaint, apply the provisions of Decree No. 88/2019/NĐ-CP dated November 14, 2019 of the Government on administrative penalties for violations in the field of currency and banking to resolve the matter.