Decision No. 470/QD-TTg on the establishment of the Anti-Money Laundering Steering Committee

Pursuant to …;

Regarding the establishment of the Anti-Money Laundering Steering Committee

 ________________________

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to Decree No. 74/2005/NĐ-CP dated June 7, 2005 of the Government on anti-money laundering;

Pursuant to Decision No. 34/2007/QĐ-TTg dated March 12, 2007 of the Prime Minister on the issuance of regulations on the establishment, organization, and operation of inter-ministerial coordination bodies;

Considering the proposal of the Governor of the State Bank of Vietnam, 

DECISION:

Article 1. Establishment and definition of the position and functions of the Anti-Money Laundering Steering Committee

Establish the Anti-Money Laundering Steering Committee (hereinafter referred to as the Steering Committee).

The Steering Committee is an inter-ministerial coordination body assisting the Prime Minister in directing and coordinating activities among ministries and sectors in anti-money laundering work on Vietnamese territory.

Article 2. Tasks and powers of the Steering Committee

1. Assist the Prime Minister in directing the development of strategies, policies, programs, plans, mechanisms, and solutions for anti-money laundering work.

2. Assist the Prime Minister in directing, coordinating activities, urging, inspecting, and evaluating anti-money laundering work on Vietnamese territory.

3. Assist the Prime Minister in directing the implementation of Vietnam's obligations as a member of the Asia-Pacific Group on Money Laundering (APG) and the plan to fully implement the 40+9 Recommendations of the Financial Action Task Force (FATF).

4. Coordinate with core forces in counter-terrorism work to study and propose competent state agencies to issue laws and policies, programs, and measures to combat terrorism financing on Vietnamese territory.

5. Approve comprehensive reports on the implementation of anti-money laundering work during each period and when requested by the Prime Minister.

6. Assist the Prime Minister in studying and issuing policies on international cooperation in the field of anti-money laundering suitable for each period.

7. Perform other tasks assigned by the Prime Minister.

Article 3. Composition of the Steering Committee

1. Chairman of the Steering Committee:

2. Deputy Chairmen of the Steering Committee:

- Governor of the State Bank of Vietnam;

- Leader of the Ministry of Public Security.

3. Members:

- Invite one leader of the Supreme People's Court;

- Invite one leader of the Supreme People's Procuracy;

- One leader of the Government Office;

- One leader of the Ministry of Justice;

- One leader of the Ministry of Foreign Affairs;

- One leader of the Ministry of Home Affairs;

- One leader of the Ministry of Finance;

- One leader of the Ministry of Planning and Investment;

- One leader of the Ministry of Information and Communications;

- One leader of the Government Inspectorate;

- One leader of the Ministry of National Defense.

4. Standing Working Group assisting the Steering Committee

The Steering Committee has a Standing Working Group, consisting of officials and experts from units mentioned in Article 3 of this Decision.

Article 4. Permanent agency of the Steering Committee

The State Bank of Vietnam is the permanent agency of the Steering Committee. The Governor of the State Bank of Vietnam assigns a unit responsible for anti-money laundering work to assist the permanent agency and ensure the operational conditions of the Steering Committee.

Article 5. Activities of the Steering Committee and the Standing Working Group

1. The Prime Minister authorizes the Chairman of the Steering Committee to approve members of the Steering Committee and decide to supplement or replace members of the Steering Committee when necessary. Heads of units mentioned in Article 3 of this Decision appoint leaders to participate as members of the Steering Committee and members of the Standing Working Group.

2. The Chairman of the Steering Committee authorizes the Governor of the State Bank of Vietnam to decide on the establishment and management of the Standing Working Group assisting the Steering Committee.

3. Members of the Steering Committee and the Standing Working Group serve in兼任职务。

4. The Chairman of the Steering Committee issues the Rules of Procedure of the Steering Committee, the Standing Working Group, the management mechanism, financial mechanism, and reporting system.

5. Documents signed by the Chairman of the Steering Committee shall bear the seal of the Prime Minister. Documents signed by Deputy Chairmen of the Steering Committee shall bear the seal of the relevant ministry or sector.

Article 6. Budget for the Operations of the Steering Committee

The budget for the operations of the Steering Committee shall be provided from the state budget and allocated within the regular operational budget of the State Bank of Vietnam.

Article 7. Effective Date

This Decision takes effect from the date of issuance.

Article 8. Responsibility for Implementation

The Ministers, Heads of ministerial-level agencies, Heads of government agencies, Chairpersons of People's Committees of provinces and centrally governed cities, the Chairman of the Steering Committee, members of the Steering Committee, and units under the Steering Committee are responsible for implementing this Decision./.