Beneficial Owner According to Anti-Money Laundering Regulations

The beneficial owner pursuant to the anti-money laundering regulations stipulated in Clause 3 Article 1 of Decree 87/2019/ND-CP amending the Decree guiding the Anti-Money Laundering Law. Specifically:

- The reporting entity must identify the ultimate beneficial owner of the customer and apply measures to recognize and update information about the beneficial owner through the following criteria:

+ An individual with actual ownership of an account or transaction: account holder, joint account holder, or any person who controls the account's activities or benefits from the transaction;

+ An individual with controlling rights over a legal entity: an individual holding directly or indirectly 25% or more of the charter capital of that legal entity; private enterprise owner; any other individual who actually controls or supervises that legal entity;

+ An individual with control over an investment trust or authorization agreement: the individual who entrusts or authorizes; the individual with control over the person, legal entity, or organization entrusted or authorized.

- The identification and verification of information concerning the beneficial owner shall be conducted in accordance with Article 4 of this Decree, except in cases where the beneficial owner is an individual representing state capital in organizations.

Sincerely.