Decree No. 70/2000/NĐ-CP On Keeping Confidentiality, Storing, and Providing Information Related to Customer Deposits and Deposited Assets

DECREE OF THE GOVERNMENT

Regarding the maintenance of confidentiality, storage, and provision of information related

to customer deposits and deposited assets

THE GOVERNMENT

Based on the Government Organization Law dated September 30, 1992;

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997;

Pursuant to the Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997;

Pursuant to the Ordinance on National Security Secrets Protection dated October 28, 1991;

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

DECREE:

PART I

GENERAL PROVISIONS

Article 1. Scope of Application

to customer deposits and deposited assets at credit organizations and non-credit organizations engaged in banking activities (referred to collectively in this Decree as organizations) as provided for in the Law on Credit Organizations.

2.Information related to customer deposits and deposited assets that fall under the category of national security secrets in the banking sector shall be stored and protected according to the state's confidentiality regime.

Article 2. Deposits, assets, and related information

1.Customer deposits include Vietnamese Dong and foreign currencies of organizations and individuals in the form of demand deposits, term deposits (including savings deposits), and other deposit forms.

2.Customer deposited assets include tangible objects, negotiable instruments, and property rights as prescribed by law.

3.Information related to customer deposits includes account numbers, signatures of account holders or authorized representatives, transaction volume and account balances.

4.Information related to deposit transactions, withdrawal, transfer of funds and assets of customers; contents of documents, papers, and materials; names and signatures of depositors and asset owners.

Chapter II

SPECIFIC PROVISIONS

Article 3.Rights and obligations of organizations receiving customer deposits and deposited assets

1.Organizations, staff, and employees may not provide or disclose information related to customer deposits and deposited assets except as provided for in Articles 5 and 6 of this Decree.

2.Must report immediately to the State Bank of Vietnam upon discovering signs of illegality in customer deposits and deposited assets.

3.Are entitled to initiate legal proceedings against organizations and individuals who compel the provision of information related to customer deposits and deposited assets contrary to the provisions of this Decree.

4.Provision of information related to customer deposits and deposited assets must ensure truthfulness, accuracy, and correct targeting.

Article 4.Rights of customers depositing money and assets

1.To lodge complaints and initiate legal proceedings against organizations receiving deposits and assets if such organizations provide incorrect or inaccurate information related to customer deposits and deposited assets.

2.To be compensated by organizations receiving deposits and assets for losses caused by the incorrect, inaccurate, or untruthful provision of information related to customer deposits and deposited assets.

Article 5. Provide information

Organizations receiving customer deposits and deposited assets may only provide information related to customer deposits and deposited assets in the following cases:

1.At the request of the customer or their authorized representative as prescribed by law.

2.For internal operations of the organization receiving deposits and assets.

3.At the written request of the General Director of the deposit insurance organization when it exercises its rights and obligations as prescribed in Government Decree No. 89/1999/NĐ-CP dated September 1, 1999, on deposit insurance and related legal regulations.

4.At the written request of state agencies during inspections, investigations, prosecutions, trials, and enforcement within their jurisdiction as prescribed by law. In this case, the request for organizations to provide information related to customer deposits and deposited assets must be signed by the following authorized persons:

a)The Procurator General, Deputy Procurator General of the Supreme People's Procuracy; President, Vice-President of the Supreme People's Court; Judge of the People's Court implementing the provisions of documents issued by the National Assembly and Within 10 working days from the date of receipt of the dossier as mentioned in Sub-clause b, Clause 1, Article 3 above, the Ministry of Foreign Affairs will review and submit to the competent authority for decision (Issues exceeding the Ministry of Foreign Affairs' jurisdiction will be referred to the Prime Minister for consideration and decision).Standing Committee of the National Assembly;

b)Procurator General, Deputy Procurator General of Military Procuracy; President, Vice-President of Military Court; Judge of Military Court at military region level or higher;

c)Director, Deputy Director of various bureaus under the Ministry of Public Security; Director, Deputy Director of provincial-level public security organs; Head, Deputy Head of investigation organs under ministries, provincial-level public security organs; Head, Deputy Head of investigation organs in the Vietnam People's Army at military region level or higher;

d)Enforcement officers or Heads of enforcement agencies at all levels assigned to enforce court decisions;

đ)State Inspector General, Deputy State Inspector General, Chief Inspector, Deputy Chief Inspector of state inspection organizations and specialized inspection organizations; Head of inspection teams established according to laws on inspection, complaint resolution, and anti-corruption from provincial level or higher.

Article 6. Provision of information between credit organizations

1.Credit organizations are permitted to provide each other with information related to customer deposits and deposited assets.

2.When credit organizations provide information related to customer deposits and deposited assets, they must comply with legal provisions on protecting state secrets and the following requirements:

a)Requests for information from credit organizations must be documented in writing and signed by the General Director (Director) of the credit organization or a person authorized by the General Director (Director) of the credit organization.

b)Credit organizations receiving information related to customer deposits and deposited assets may only use the information for internal operations of their credit organization.

Article 7.Information provision process

1.Reviewing and photocopying data related to customer deposits and deposited assets is decided by the General Director (Director) or a person authorized by the General Director (Director) of the organization holding the relevant documents.

2.Information provision must be recorded in a "Record of Information Provision" and comply with regulations on protecting state secrets.

Article 8.Storage and preservation of information

All documents requesting the provision of information related to deposits and deposited assets of customers and the information provided must be stored and preserved in accordance with the current storage and preservation regime of the State.

Article 9. Handling violations

All organizations and individuals must comply with the regulations on keeping confidential, storing, and providing information related to customer deposits and deposited assets as prescribed in this Decree and other relevant laws. Organizations and individuals who commit violations shall be subject to disciplinary, administrative handling, or criminal prosecution if they cause damage, and must compensate according to the provisions of the law, depending on the nature and extent of the violation.

Chapter III

IMPLEMENTING PROVISIONS

Article 10.Effectiveness

This Decree shall take effect fifteen days from the date of signature.

Article 11.Implementation Provisions

1.The Governor of the State Bank of Vietnam is responsible for guiding the implementation of this Decree.

2.The General Directors (Directors) of credit organizations, non-credit organizations engaging in banking activities, and related individuals are responsible for implementing this Decree.

3.Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairmen Within 10 working days from the date of receipt of the dossier as mentioned in Sub-clause b, Clause 1, Article 3 above, the Ministry of Foreign Affairs will review and submit to the competent authority for decision (Issues exceeding the Ministry of Foreign Affairs' jurisdiction will be referred to the Prime Minister for consideration and decision).of the People's Committees of provinces and centrally-administered cities areresponsible for implementing this Decree./.