Vietnam: Contents of report on transactions of big value in prevention of money laundering

According to Circular No. 35/2013/TT-NHNN of the State Bank of Vietnam, there are 02 cases where the report on transactions of big value is required:

- When performing transactions of big value, the reporting units shall report to the Bureau of anti-money laundering in writing according to the form No.02 enclosed with this Circular or e-data file as prescribed in Article 10 of this Circular.

- If customers submit cash of big value to buy Vietnam currency or submit cash in Vietnam dong of big value to buy foreign currency in cash, only transactions of submitting cash are required to report.

Specifically, contents of report on transactions of big value include:

1. Information of customer:

- For customers being individuals: Full name, date of birth, ID number or passport number, nationality (if a customer have many nationalities, he must write fully nationalities and addresses of residence registered at countries he bears nationality) address of residence in Vietnam;

- For customers being organizations: Organization name, address, country, tax code; if an organization has no tax code, it is required to have a number of operational license or decision on establishment or the Business registration certificate.

2. Information of transaction:

- For transactions of big value in cash (Vietnam currency or foreign currency): Day of implementing transaction, number of account (if any), transaction type, transaction code (sole reference number for each transaction), amount of transaction, kind of transaction currency, amount converted into Vietnam dong (at the rate of respective transaction type at time of arising transaction), reason, purpose of transaction, name, location where transaction arises;

- For gold purchase and sale transactions of big value: Day of implementing transaction, transaction type, transaction code (sole reference number for each transaction), volume (unit: Kilogram; enumerated under each kind of goods), value of each transaction, total transaction value in day converted into Vietnam dong, reason, purpose of transaction, name, location where transaction arises.

3. Other information which is specified in forms promulgated together with this Circular.

View full text at Circular No. 35/2013/TT-NHNN of the State Bank of Vietnam, effective from February 14, 2014.

Thu Ba

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