Providing Customer Information Only When Properly Requested

Credit institutions and foreign bank branches shall only provide customer information when meeting the following forms of request:

Indirect Form:

- The request and providing of customer information in this form are conducted through postal service providers or via electronic means, telecommunication networks, and computer networks.- This request must comply with the provisions of the law on electronic transactions, the guidelines of credit institutions, and foreign bank branches. Additionally, it must be consistent with the technical conditions of the parties.

Direct Form: The request for providing customer information in this form is done at the headquarters of the credit institution, foreign bank branch through the representatives of the parties.

According to Decree 117, credit institutions and foreign bank branches implement the form of delivering and receiving customer information as follows:

Indirect Form:

- The delivery and receipt of mailed items containing customer information must be done in a guaranteed form and recorded in a logbook.- Regular monitoring and tracking of the delivery and receipt of mails containing customer information between the credit institution, foreign bank branch, and the postal service provider.- The transmission, receipt, provision, and storage of customer information must ensure information security and comply with the procedures and regulations of the law on electronic transactions, network information security, guidelines of credit institutions, and foreign bank branches.

Direct Form: The delivery and receipt of customer information must be documented, stamped, and signed by the authorized person according to the delegation of the credit institution, foreign bank branch, and signed by the representative receiving the customer information.

Additionally, the provision of customer information by credit institutions and foreign bank branches must comply with the following time limits:

- In case the relevant law specifies the time limit for providing customer information to state agencies, the time limit for providing customer information is the time limit stipulated by the relevant law, starting from the date of receiving the complete dossier requesting customer information provision.- In case the relevant law does not specify the time limit for providing customer information to state agencies, the time limit for providing customer information is agreed upon between the credit institution, foreign bank branch, and the state agency or according to the internal regulations of the credit institution, foreign bank branch but not exceeding the following time limits:- 10 working days from the date of receiving the complete dossier requesting simple customer information, which is readily available.- 25 days from the date of receiving the complete dossier requesting complex customer information, which is not readily available.

Further information can be found in Decree 117/2018/ND-CP effective from November 01, 2018.

-Thao Uyen-

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