From July 01, 2024, which acts are prohibited in non-cash payments according to Decree 52?
From July 01, 2024, what acts are prohibited in non-cash payments according to Decree 52?
On May 5, 2024, the Government of Vietnam issued Decree 52/2024/ND-CP (link to law library) regulating non-cash payments.
According to Article 8 of Decree 52/2024/ND-CP (link to law library), the prohibited acts in non-cash payments from July 01, 2024, include:
- Altering, erasing payment instruments, payment documents contrary to the law; counterfeiting payment instruments, payment documents; storing, circulating, transferring, using counterfeit payment instruments.
- Hacking or attempting to hack, stealing data, sabotaging, unauthorized altering of software programs, electronic data used in payments; exploiting network system errors for profit.
- Providing false information related to the provision or use of payment services, intermediary payment services.
- Disclosing, providing information about the balance in payment accounts, bank card balances, e-wallet balances, and payment transactions of customers at payment service providers, intermediary payment service providers contrary to the relevant laws.
- Opening or maintaining anonymous, fake payment accounts, e-wallets; buying, selling, leasing, renting, borrowing, or lending payment accounts, e-wallets; leasing, renting, buying, or selling bank cards on behalf of others (except for anonymous prepaid cards); stealing, colluding to steal, buying, or selling payment account information, bank card information, e-wallet information.
- Issuing, providing, and using illegal payment instruments.
- Providing intermediary payment services without a license issued by the State Bank. Providing payment services without being a payment service provider.
- Facilitating, organizing, or enabling acts of using, exploiting payment accounts, payment instruments, payment services, intermediary payment services for gambling, organizing gambling, fraud, scams, illegal businesses, and other illegal acts.
- Erasing, altering content, buying, selling, transferring, leasing, lending, or counterfeiting the license for intermediary payment service provision.
- Entrusting, authorizing other organizations, individuals to conduct activities permitted under the intermediary payment service provision license.
- Fraud, forging documents proving eligibility to be granted an intermediary payment service provision license in the application dossier.
- Operating activities beyond the scope specified in the intermediary payment service provision license.
- Account holders of payment accounts at payment service providers providing information or committing that they do not have payment accounts at payment service providers to the parties having rights and obligations related to the law on loan disbursement of credit institutions, foreign bank branches.
From July 01, 2024, what acts are prohibited in non-cash payments according to Decree 52?
What are the state management responsibilities for non-cash payment activities?
According to Article 4 of Decree 52/2024/ND-CP, the state management responsibilities of the State Bank for non-cash payment activities include:
- Issuing according to authority or submitting to competent authorities to issue legal documents on non-cash payment activities; regulating the management, connection, and data sharing for non-cash payment activities.
- Organizing, managing, operating, and supervising the national payment system; participating in organizing and monitoring the operation of other important payment systems in the economy; supervising the provision of payment and intermediary payment services.
- Approving in writing the participation of commercial banks and foreign bank branches in the international payment system.
- Issuing, amending, supplementing, and revoking licenses for intermediary payment services.
- Approving and revoking the provision of non-account-based payment services for public postal service providers.
- Inspecting, auditing, and handling according to authority for legal violations in non-cash payment activities of organizations and individuals.
- Managing international cooperation activities in the payment field; chairing, cooperating with competent authorities in managing international payment activities.
What entities are subject to Decree 52/2024/ND-CP?
According to Article 2 of Decree 52/2024/ND-CP, entities subject to this decree include:
- Organizations providing non-cash payment services.
- Organizations providing intermediary payment services.
- Organizations and individuals related to the provision of non-cash payment services, intermediary payment services.
- Organizations and individuals using non-cash payment services, intermediary payment services (hereinafter referred to as customers).
Decree 52/2024/ND-CP takes effect from July 01, 2024.
LawNet