Decree No. 74/2005/ND-CP on prevention and combat of money laundering
SOCIALIST REPUBLIC OF VIETNAM
Hanoi, June 7, 2005
ON PREVENTION AND COMBAT OF MONEY LAUNDERING
In order to achieve the objective of prevention and combat of money laundering, contributing to safeguarding national security and social safety and order and protecting legitimate rights and interests of individuals, agencies and organizations;
Pursuant to the 1999 Penal Code;
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the December 12, 1997 Law on the Vietnam State Bank and the June 17, 2003 Law Amending and Supplementing a Number of Articles of the Law on the Vietnam State Bank;
Pursuant to the December 12, 1997 Law on Credit Institutions and the June 15, 2004 Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions;
Pursuant to the July 2, 2002 Ordinance on Handling of Administrative Violations;
At the proposal of the Vietnam State Bank Governor,
Chapter I .
Article 1. Scope of regulation
This Decree provides for mechanisms and measures to prevent and combat money laundering in Vietnam in monetary or other property transactions; responsibilities of individuals, agencies and organizations for preventing and combating money laundering; and international cooperation in the prevention and combat of money laundering.
Article 2. Subjects of application
1. This Decree applies to Vietnamese individuals, agencies and organizations, foreign individuals and organizations and stateless persons residing or operating in the Vietnamese territory who conduct monetary or other property transactions or provide customers with services related to such transactions in Vietnam.
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