Decree No. 74/2005/ND-CP on Anti-Money Laundering

DECREE OF THE GOVERNMENT

On anti-money laundering

THE GOVERNMENT

To implement the objectives of preventing and combating money laundering, contributing to national security and social order, protecting the rights and legitimate interests of individuals, agencies, and organizations;

Pursuant to the Criminal Code of 1999;

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

WHEREAS, the Law on the State Bank of Vietnam dated December 12, 1997 and the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam dated June 17, 2003;

Pursuant to the Law on Credit Institutions dated December 12, 1997 and the Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions dated June 15, 2004;

Based on the Administrative Violation Handling Ordinance dated July 2, 2002;

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

DECREE:

PART I

General Provisions

Article 1. Scope of application

This Decree stipulates the mechanisms and measures for preventing and combating money laundering in Vietnam in monetary transactions or other asset transactions; the responsibilities of individuals, agencies, and organizations in preventing and combating money laundering; international cooperation in the field of preventing and combating money laundering.

Article 2. Applicability

1. This Decree applies to Vietnamese individuals, agencies, and organizations, foreign individuals and organizations, and stateless persons residing or operating on the territory of Vietnam who engage in transactions or provide services to customers related to monetary transactions or other asset transactions in Vietnam.

2. This Decree also applies to foreign individuals and organizations not residing or operating on the territory of Vietnam but engaging in transactions or providing services to customers related to monetary transactions or other asset transactions in Vietnam.

3. In cases where international treaties to which the Socialist Republic of Vietnam is a party have provisions different from this Decree, the provisions of such international treaties shall apply.

Article 3. Interpretation 1. Foreign motor vehicle means vehicles:

1. Money Laundering is the act of individuals or organizations attempting to legalize proceeds derived from criminal activities through the following specific activities:

a) Directly or indirectly participating in a transaction related to proceeds derived from criminal activities;

b) Receiving, holding, transferring, converting, transferring ownership, transporting, using, or transporting across borders proceeds derived from criminal activities;

c) Investing in a project, construction, contributing capital to a business, or seeking other means to conceal, disguise, or obstruct the verification of the source, true nature, location, movement process, or ownership of proceeds derived from criminal activities.

2. Financial Institution is any organization conducting one or more of the following businesses: accepting deposits; lending; leasing finance; transferring funds or value; issuing and managing payment instruments; financial guarantees and commitments; foreign exchange trading, money market instruments, transferable securities; participating in securities issuance; managing investment portfolios for individuals or groups; managing cash or liquid securities on behalf of others; investing, managing capital or funds on behalf of others; life insurance and insurance related to other investments; currency exchange.

3. Monetary Transaction or Other Asset Transaction (hereinafter referred to as transaction) refers to transactions that result in the conversion, transfer, or change of ownership of money or assets of individuals, agencies, or organizations.

4. Customer Due Diligence refers to necessary procedures carried out in accordance with this Decree to obtain relevant information about individuals or organizations engaged in monetary transactions or other asset transactions..

5. Customer Information refers to the information obtained under Clause 3 of Article 8 of this Decree, used to identify the parties involved, the purpose, and the nature of the transaction.

6. Competent State Agency is any state agency having the function of managing, directing, guiding, collecting, processing information, investigating, or handling acts related to money laundering as prescribed in this Decree.

7. Suspicious Transaction is any transaction showing unusual signs or related to money laundering, warned by competent state authorities or identified according to this Decree.

Article 4. Principles in Preventing and Combating Money Laundering

1. Prevention, detection, blocking, and handling of money laundering must be carried out in accordance with the provisions of the law. on the basis of ensuring national sovereignty and security; ensuring normal economic and investment activities; protecting the legitimate rights and interests of individuals, agencies, and organizations; preventing abuse of power and exploitation of anti-money laundering efforts to infringe upon the legitimate rights and interests of related individuals, agencies, and organizations.

2. International cooperation in the field of preventing and combating money laundering must be based on the principles of respecting national independence and sovereignty, mutual benefit, and shall be implemented in accordance with Vietnamese law, except where international treaties to which the Socialist Republic of Vietnam is a party provide otherwise.

Article 5. Responsibilities for Participating in Preventing and Combating Money Laundering

1. Preventing and combating money laundering is the responsibility of every individual, agency, and organization.

2. Strictly prohibit agencies, organizations, and individuals from participating in or facilitating money laundering activities.

3. The State has policies to encourage and protect individuals, agencies, and organizations that participate in preventing and combating money laundering; encourages organizations and individuals who have engaged in money laundering to voluntarily surrender or report to competent state authorities; organizes struggles against crimes related to money laundering.

Article 6. Individuals and Organizations Responsible for Preventing and Combating Money Laundering

1. Financial institutions have the responsibility to implement measures to prevent and combat money laundering under this Decree, including:

a) Organizations established and operating in accordance with the Law on Credit Institutions;

b) Organizations acting as brokers, investing in monetary instruments or providing payment services within the territory of Vietnam;

c) Organizations issuing, listing, trading, dealing in, depositing, and settling securities transactions;

d) Organizations registered to deal in foreign currencies, gold, silver, and precious stones;

đ) Insurance companies, insurance brokers, and organizations involved in pension or social welfare programs;

e) Organizations in Vietnam representing or acting on behalf of foreign financial institutions.

2. Other individuals and organizations responsible for preventing and combating money laundering under this Decree include:

a) Lawyers, legal advisory companies, law firms, and partnership law firms when conducting monetary or asset transactions on behalf of clients;

b) Organizations engaged in gambling, casinos, or lotteries; organizations offering significant customer incentives;

c) Real estate brokerage companies registered for business;

d) Individuals permitted to operate or engage in business as one of the financial institutions mentioned in Clause 1 of Article 6 of this Decree.

Chapter II

Measures for Preventing and Combating Money Laundering

Article 7. General Preventive Measures

1. Financial institutions mentioned in Clause 1 of Article 6 of this Decree have the responsibility to implement the following measures:

a) Establish internal control and audit procedures to ensure effective and appropriate prevention and combat of money laundering in accordance with current laws;

b) Assign staff responsible for implementing policies, plans, procedures, and measures to prevent and combat money laundering;

c) Develop procedures for understanding, updating information, and customer identification in accordance with Article 8 of this Decree;

d) Maintain and update transaction data and reports as stipulated in Article 12 of this Decree;

đ) Timely comply with requests from competent state authorities and cooperate with other individuals, agencies, and organizations in preventing and combating money laundering;

e) Train employees to enhance their responsibility in preventing and combating money laundering;

g) Apply temporary measures as provided for in Article 11 of this Decree within their authority.

2. Individuals and organizations mentioned in Clause 2 of Article 6 of this Decree have the responsibility to comply with the provisions of points c, d, đ, g of Clause 1 of this Article.

Article 8. Customer Due Diligence

1. Situations requiring customer identification as prescribed in this Decree include:

a) When a customer, whether an individual or an organization, opens an account for the first time;

b) When cash transactions occur as specified in Article 9 of this Decree;

c) When transactions exhibit suspicious signs as specified in Article 10 of this Decree;

d) Depending on the nature and scale of the transaction, individuals and organizations mentioned in Article 6 of this Decree may deem it necessary to identify customers.

2. Requirements for Customer Identification:

a) Ensure the reliability and timeliness of customer identification information;

b) Ensure the confidentiality of customer identification information.

3. Content of Customer Identification Information:

Individuals and organizations mentioned in Article 6 of this Decree are responsible for designing customer identification forms themselves, which must include the following elements:

a) Date, month, year of opening an account or conducting a transaction;

b) Name of the individual or representative of the organization seeking to conduct a transaction; passport number, ID card number, or other identity document; residential address or place of permanent residence registration;

c) Full and abbreviated name of the organization or owner seeking to conduct a transaction or having authorized a third party to conduct a transaction, business registration number, tax registration number, and office address;

d) Name, address, identification number, or business registration number of the individual or organization related to the transaction, especially the party authorizing the transaction and the beneficiary of the transaction;

đ) Form, purpose, value of the transaction;

e) Name and employee of the individual conducting customer identification.

4. Customer Identification Measures:

In cases where there is doubt about the customer identification information provided by the customer, individuals and organizations mentioned in Article 6 of this Decree may verify the authenticity of such information through the following methods:

a) Surveying and collecting information from other organizations that have or are currently in a relationship with the customer and comparing the obtained information with the information provided by the customer;

b) Collecting information from branches, representative offices, subsidiaries, affiliated companies... at the source of the information provided by the customer;

c) Through competent authorities at the source of the information provided by the customer;

d) Other appropriate measures in compliance with the law and meeting the requirements of customer identification.

5. Retention of Customer Identification Information:

In addition to retaining and preserving information under the current regime, individuals and organizations mentioned in Article 6 of this Decree shall be responsible for retaining customer identification information related to transactions specified in Clause 1 of this Article for at least five years from the date of account closure or five years from the end of the transaction.

Article 9. Reporting threshold for transactions

1. One or more transactions in a day conducted by an individual or organization in cash with a total value of VND 200,000,000 (two hundred million dong) or more, or in foreign currency, gold equivalent thereto, except where otherwise provided by law.

2. For savings deposit transactions, the total value of one or more cash transactions in a day conducted by an individual or organization is VND 500,000,000 (five hundred million dong) or more, or in foreign currency, gold equivalent thereto.

3. The Prime Minister shall adjust the reporting thresholds for cash transactions prescribed in Clauses 1 and 2 of this Article to suit the development of the national economy and society according to each period.

Article 10. Suspicious Transactions

1. Transactions shall be considered suspicious if they exhibit any of the following signs:

a) The parties involved in the transaction provide inaccurate, incomplete, inconsistent, or unconvincing customer identification information, thereby persuading individuals or organizations providing services not to report the transaction to the competent state authorities as prescribed by law;

b) Transactions are carried out on the orders or instructions of individuals or organizations associated with criminal activities listed in the statistics and warnings compiled by the Ministry of Public Security for the purpose of preventing and combating money laundering and financing terrorism within or outside the territory of Vietnam;

c) Transactions wherein, through identification information or examination of the economic and legal basis of the parties involved, it can be determined that there is a connection between the parties involved in the transaction and criminal activities or those mentioned in point b of Clause 1 of this Article;

d) Individuals or organizations participating in transactions with large amounts of money that are disproportionate or unrelated to their daily activities or any lawful activity;

đ) Sudden changes in transaction volume on an account; rapid deposits and withdrawals from an account; large transaction volumes in a day but very small or zero account balances;

e) Small-value transfers from multiple accounts to a single large amount or vice versa over a short period, or transfers circulating through multiple accounts; the parties involved are indifferent to transaction fees;

g) Using letters of credit and other trade finance methods with high values and discounts to transfer funds between countries when such transactions are unrelated to the regular business activities of customers;

h) Legal entities not conducting transactions for a long time after opening an account; domestic enterprises opening and using foreign accounts under the name of foreign legal or natural persons;

i) Large sums of money being transferred from a company's foreign exchange account abroad after receiving several small transfers via electronic transfers, checks, drafts;

k) Foreign companies transferring money abroad immediately after receiving investment capital or making payments abroad that are not consistent with the nature or needs of their business operations;

l) Insurance companies frequently compensating or paying large sums to the same client;

m) Securities organizations transferring funds that are not consistent with securities trading activities;

n) Any other transaction that financial institutions consider unusual or legally unreliable.

2. The State Bank of Vietnam shall periodically update the list of suspicious transactions by written notice after consulting relevant ministries and agencies.

3. Individuals and organizations mentioned in Article 6 of this Decree shall be responsible for updating the list prescribed in point b of Clause 1 of this Article to be aware and comply with.

Article 11. Temporary measures applied in anti-money laundering

1. During the process of preventing and combating money laundering, one of the following temporary measures may be applied:

a) Not performing the transaction;

b) Freezing the account;

c) Sealing or temporarily holding assets;

d) Detaining the violator;

đ) Other preventive measures as prescribed by law.

2. The application of temporary measures must be carried out within the scope of authority and in accordance with the provisions of the law without affecting the safety of the financial and monetary system.

3. Individuals and organizations mentioned in Article 6 of this Decree have the right to apply the measure of not performing the transaction when the parties involved in the transaction belong to the list prescribed in point b of Clause 1 of Article 10 of this Decree or when there is reason to believe that the requested transaction is related to criminal activity, while immediately reporting to the Anti-Money Laundering Information Center or the competent state authority; freezing the account upon request of the competent state authority.

4. Investigative authorities with jurisdiction may apply measures: freezing the account, sealing or temporarily holding assets, detaining the violator, and other preventive measures as prescribed by law.

Article 12. Form, Content of Report and Provision of Information 1. Individuals and organizations specified in Article 6 of this Decree must report transactions prescribed in Articles 9 and 10 of this Decree to the Anti-Money Laundering Information Center or competent state agencies, specifically as follows:

a) Form of report: in writing, through electronic means, or any other lawful method; in case of necessity, reports may be made immediately by telephone, but must be confirmed subsequently by the aforementioned methods; the person making the report or signing the report must be the individual conducting the transaction or a specialized staff member or authorized person of the organization or agency required to make the report;

b) Content of the report includes: customer identification information as stipulated in Clause 3, Article 8 of this Decree; time and period for conducting the transaction or issuing the transaction order; parties involved in the transaction; documents and materials used in the transaction; preventive measures that have been implemented;

c) Time of reporting: no later than 48 hours from the time the transaction occurs as prescribed in Article 9 or from the time the transaction is detected as prescribed in Article 10 of this Decree, or within 24 hours if there are signs indicating a connection between the transaction requested to be carried out and criminal activities. The Governor of the State Bank of Vietnam shall specify the reporting time for each specific type of transaction.

2. Individuals, agencies, and organizations specified in Article 6 of this Decree shall not inform the parties involved in the transaction about the report and its contents or the information provided.

3. Other individuals, agencies, and organizations, if they discover suspicious transactions, may report, provide information, or notify in writing or by any other lawful means to the Anti-Money Laundering Information Center or competent state agencies. Competent state agencies receiving such reports and information shall handle the information according to their authority as prescribed by law and immediately notify the Anti-Money Laundering Information Center.

4. Information related to transactions reported under this Decree shall be kept confidential and only provided to competent authorities as prescribed by law. Individuals, agencies, and organizations fulfilling the responsibility to report or provide information related to transactions as prescribed in Clause 1 of this Article shall not be considered to violate provisions of law on ensuring the confidentiality of customer deposits and assets or other provisions on ensuring customer information confidentiality.

Article 13. Handling Information

1. Upon receipt of information or reports on transactions prescribed in Articles 9 and 10 of this Decree, the Anti-Money Laundering Information Center shall proceed with:

a) Analyzing the received information and reports;

b) Comparing the received information and reports with statistical data, existing information, and information stored at the Anti-Money Laundering Information Center;

c) Requesting or proposing any individual, agency, or organization to provide additional information and data related to the received reports;

d) Warning or recommending to individuals and organizations specified in Article 6 of this Decree and relevant competent state agencies about issues arising from reported transactions.

2. When there is evidence to determine that the transaction mentioned in the information and report may be related to criminal activities, the Anti-Money Laundering Information Center shall immediately notify the competent investigative agency and transfer all files, while closely cooperating with the investigative agency during the verification process and providing relevant information and documents when requested.

The Anti-Money Laundering Information Center

Article 14. 1. Establish the Anti-Money Laundering Information Center under the State Bank of Vietnam; having the function of being the central point for receiving and processing information; having the right to request relevant agencies, organizations, and individuals to provide documents and files on information about transactions prescribed in Articles 9 and 10 of this Decree; providing documents and information as prescribed in this Decree; assisting the Governor of the State Bank of Vietnam in performing tasks prescribed in Article 15 and Clauses 1 and 4 of Article 20 of this Decree.

2. The Anti-Money Laundering Information Center has a Director and several Deputy Directors appointed by the Governor of the State Bank of Vietnam.

3. The Anti-Money Laundering Information Center has its own seal and its main office is located at the State Bank of Vietnam.

4. Specific functions, tasks, powers, organizational structure, and working regulations of the Anti-Money Laundering Information Center shall be prescribed by the Governor of the State Bank of Vietnam.

Responsibilities of State Agencies

Chapter III

in Preventing and Combating Money Laundering

Responsibilities of the State Bank of Vietnam

Article 15. 1. To take the lead and coordinate with the Ministry of Public Security and relevant agencies in building and implementing strategies, policies, and plans for preventing and combating money laundering on Vietnamese territory; researching and adopting measures to limit cash transactions on Vietnamese territory.

2. To exchange results of anti-money laundering work annually or when requested by the Government with relevant agencies and act as the focal point for compiling reports to submit to the Government.

3. To coordinate with relevant agencies, organizations, and individuals in implementing anti-money laundering measures as prescribed by law and this Decree.

4. To organize the reception, compilation, analysis, handling, storage, and provision of information, documents, and files as prescribed in Articles 12 and 13 of this Decree; transferring documents and files of cases potentially related to money laundering to competent state agencies for inspection, investigation, and handling as prescribed by law.

5. To organize research and application of scientific and technological progress in information processing for anti-money laundering purposes.

6. To train specialized staff for relevant units of the State Bank of Vietnam and financial institutions on information analysis, processing, and money laundering detection.

6. Train specialized officers for relevant units of the State Bank of Vietnam and financial institutions on analyzing, processing information, and detecting money laundering.

Article 16. 2. Direct subordinate units of the Ministry of Public Security to coordinate with the Central Post and Telecommunications Administration and the enterprise designated to maintain and manage the public postal network in reviewing the political standards of workers participating directly in the provision of KT1 postal services when required.

1. To take the lead and coordinate with relevant agencies, organizations, and individuals in combating crimes related to money laundering; organize the receipt and processing of information on crimes related to money laundering.

2. To take the lead and coordinate with relevant agencies, organizations, and individuals in promoting education on preventing and combating money laundering.

3. To organize investigative forces for crimes related to money laundering; guide other agencies to conduct preliminary investigations of crimes related to money laundering according to criminal procedure laws and this Decree; report the results of investigations of cases related to money laundering to the State Bank of Vietnam.

4. To exchange necessary information and materials about new methods and tactics of criminals in the field of money laundering both domestically and internationally with the State Bank of Vietnam through the Anti-Money Laundering Information Center.

5. To train and enhance the capacity of staff involved in investigating and combating crimes related to money laundering.

Article 17. Responsibilities of Ministries, ministerial-level agencies, and government agencies

1. To guide and inspect units under their management to implement the provisions of this Decree.

2. Within the scope of authority prescribed by law, promptly coordinate with competent state agencies and other individuals, agencies, and organizations in preventing and combating money laundering.

3. To cooperate and support agencies under the Ministry of Public Security, the Supreme People's Procuracy, and the Supreme People's Court in investigating, prosecuting, and adjudicating money laundering crimes.

4. Before December 31 each year, to compile anti-money laundering work within their respective areas of management; submit reports on results to the State Bank of Vietnam for consolidation and submission to the Government.

Article 18. Responsibilities of inspection organizations of ministries

1. To notify the Anti-Money Laundering Information Center or competent state agencies of received or discovered information and reports regarding transactions as stipulated in Articles 9 and 10 of this Decree and retain related information and files for at least five years.

2. To provide full and timely information upon request of the Anti-Money Laundering Information Center and competent state agencies conducting investigations, prosecutions, and trials.

3. To organize inspections and audits of units under their management when there are transactions related to money laundering, upon request of the Anti-Money Laundering Information Center or competent state agencies.

4. To handle administrative violations according to the Administrative Violations Handling Ordinance and this Decree within their authority.

Article 19. Responsibilities of local people's committees at all levels

1. To guide subordinate units and departments to study and implement the provisions of this Decree within their functions and responsibilities.

2. To closely coordinate with competent state agencies in implementing policies, guidelines, strategies, and plans for preventing and combating money laundering.

Chapter IV

International cooperation in preventing and combating money laundering

Article 20. Responsibilities of state agencies in international cooperation in preventing and combating money laundering

1. The State Bank of Vietnam is the focal point for negotiating, signing, and implementing international treaties and agreements on exchanging information on suspicious transactions related to money laundering.

2. The Ministry of Public Security is responsible for leading negotiations and signing international treaties on mutual legal assistance, extradition, and cooperation in combating crimes related to money laundering; organizing the implementation of policies, strategies, and international treaties on preventing and combating crimes related to money laundering.

3. When there is a request for international cooperation related to preventing and combating money laundering, competent state agencies must promptly inform the State Bank of Vietnam (if the content relates to information exchange cooperation as stipulated in Clause 1 of this Article) or the Ministry of Public Security (if the content relates to legal and judicial assistance as stipulated in Clause 2 of this Article) about the nature, content, time, parties involved, and other related cooperation programs on money laundering and reasons for refusing legal assistance to consolidate and coordinate implementation.

4. The State Bank of Vietnam and the Ministry of Public Security are responsible for guiding the implementation of international cooperation requests for agencies participating in international cooperation in preventing and combating money laundering.

Article 21. Forms and contents of international cooperation requests in preventing and combating money laundering

1. Forms of cooperation:

a) Jointly detecting and preventing money laundering in accordance with Vietnamese law and the law of the relevant country;

b) Signing multilateral and bilateral international treaties on preventing and combating crimes related to money laundering;

c) Collecting, researching, and exchanging information and experience in preventing and combating money laundering crimes;

d) Jointly training, enhancing, and instructing staff from relevant agencies and organizations in analyzing suspicious transaction reports and information, and in investigating, prosecuting, and adjudicating money laundering-related crimes;

đ) Jointly organizing conferences and seminars on issues related to preventing and combating money laundering crimes;

e) Implementing requests for mutual legal assistance in investigating and handling money laundering-related crimes involving foreign individuals and organizations in Vietnam and Vietnamese individuals and organizations abroad;

g) Supporting material, technical, and technological infrastructure, and strengthening legal capacity in preventing and combating money laundering.

2. Methods and contents of international cooperation requests:

a) Cooperation requests must be submitted in writing, signed by the responsible person, and stamped by the competent authority of the requesting country;

b) Depending on the content, the cooperation request must be sent to the State Bank of Vietnam through the Anti-Money Laundering Information Center or the Ministry of Public Security through the INTERPOL Office in Vietnam;

c) In urgent cases, cooperation requests may be sent via communication means and must be confirmed in writing according to point a, Clause 2 of this Article within five working days thereafter.

d) The content of the request for cooperation must include the following elements: the name of the organization, the requesting and receiving country; the purpose, nature, and duration of the requested support; details and identifying characteristics of the property or crime to assist in implementing the request for cooperation; copies of evidence or final judgments from the competent authority of the requesting country.

Article 22. Refusal of judicial assistance requests

1. Competent state agencies of Vietnam refuse to implement requests for judicial assistance if:

a) The request for judicial assistance would harm Vietnam's sovereignty, national security, or other significant interests;

b) The request for judicial assistance is not consistent with international treaties that the Socialist Republic of Vietnam has signed or joined and Vietnamese law.

2. Competent state agencies of Vietnam may refuse to implement requests for judicial assistance if:

a) The request for judicial assistance does not meet the conditions stipulated in Article 21 of this Decree;

b) The individual mentioned in the request for judicial assistance has been or is being investigated, prosecuted, tried, or convicted by competent state agencies of Vietnam for money laundering offenses under Vietnamese law.

3. Competent state agencies of Vietnam notify the competent authority of the country that made the request when refusing to implement the request for judicial assistance.

Chapter V

Commendation and handling of violations

Article 23. Awards

Individuals, agencies, or organizations that have achievements in combating money laundering shall be rewarded according to the provisions of the law.

Article 24. Handling Violations

1. Persons involved in money laundering offenses shall be dealt with according to the Penal Code of the Socialist Republic of Vietnam.

2. Individuals or organizations responsible for preventing and combating money laundering, if they violate the provisions of this Decree without reaching the level of criminal prosecution, shall be subject to administrative penalties as follows:

a) Warning penalty for failing to establish internal control procedures and internal audit processes including terms on prevention and combat of money laundering; failing to appoint staff responsible for implementing preventive and combative measures against money laundering; failing to establish customer due diligence procedures and know-your-customer procedures as prescribed in this Decree;

b) Fine from VND 5,000,000 (five million dong) to VND 15,000,000 (fifteen million dong) for failing to report or fail to report to the Anti-Money Laundering Information Center or competent state agencies as stipulated in Article 12 of this Decree; failing to retain books, records, and documents related to transactions as required by this Decree; failing to report to the Anti-Money Laundering Information Center or competent state agencies when discovering discrepancies in previously transferred records, documents, reports, and books; c) Fine from VND 10,000,000 (ten million dong) to VND 30,000,000 (thirty million dong) for informing parties involved in transactions about the contents of reports or information provided as stipulated in Article 12 of this Decree; delaying or failing to comply with requests from the Anti-Money Laundering Information Center or competent authorities as prescribed in this Decree without justifiable reasons;

d) In addition to warning or fine penalties, violators may also have their operating licenses or professional certificates used for violations revoked temporarily or permanently; confiscated items or means used for violations according to the Administrative Violation Handling Ordinance. 3. Any person who abuses their position or power to violate the provisions of this Decree while performing duties related to preventing and combating money laundering activities shall be disciplined or criminally prosecuted depending on the nature and severity of the violation; if damage is caused, compensation must be provided according to the law.

Complaints and appeals, as well as the resolution of complaints and appeals regarding administrative decisions and actions related to the handling of violations of laws on preventing and combating money laundering, shall be carried out according to the law on complaints and appeals.

This Decree takes effect from August 1, 2005.

Article 25. Petitioning and Reporting

1. The Governor of the State Bank of Vietnam and the Minister of Public Security within the scope of their functions and responsibilities shall be responsible for guiding the implementation of this Decree.

Chapter VI

Implementation Provisions

Article 26. Effectiveness

This Decree takes effect from August 1, 2005.

Article 27. Responsibility for Implementation

1. The Governor of the State Bank of Vietnam and the Minister of Public Security within their respective functions and duties shall be responsible for guiding the implementation of this Decree.

2. Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairpersons of provincial people's committees directly under the central government are responsible for implementing this Decree./.