Vietnam: Dealing with the cases where the keys of the vault’s door, safe box are lost or revealed

According to Vietnam’s current regulations, absolutely do not let the situation where the keys of the vault door locks are handed over to one person one after another. If this situation occurs, it is considered that all vault door locks have been secreted and the keys are lost, the Director must replace the lock with a new one or a new code according to the provisions of Clause 1 Article 37 of Circular No. 01/2014/TT-NHNN of the State Bank of Vietnam.

According to Article 37 of Circular No. 01/2014/TT-NHNN, in cases where the keys of the vault’s door, safe box are lost or revealed:

- Keys of vault doors, apartment store or safe boxes which are not preserved according to this Circular shall be considered as being revealed. When the secret of the key is revealed, it is required to be replaced with a new key or new code.

- If the daily-used key of the vault door is lost, the person who has the key lost must immediately report to the Director and the higher bank in the vertical system (if any) in writing, state clearly reason, time and location where the key is lost. For the Transaction Service and a branch of the State Bank, if the key of the vault door is lost, the Director must immediately report to the police office of the same level, make a minute on the key loss and conduct procedures to get the backup key’s box for use. The replacement of new key must be conducted within a period of 36 hours; in this period, it is required to strengthen measures to protect and to ensure absolute safety of the assets.

Note: The person who revealed or lost the key must be seriously reviewed and must compensate for the costs of replacing the new lock; must be disciplined or be handled according to legal regulations.

View other provisions at Circular No. 01/2014/TT-NHNN of the State Bank of Vietnam, effective from February 20, 2014.

Thu Ba

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