Authority to suspend circulation suspension, freezing, sealing and temporary seizure of money and assets involved in terrorism or terrorist financing in Vietnam

Authority to suspend circulation suspension, freezing, sealing and temporary seizure of money and assets involved in terrorism or terrorist financing in Vietnam

- The Minister of Public Security (Hanoi, Vietnam) has the authority to decide on the confiscation, submission to the state budget, or destruction of money and assets related to terrorism and terrorist financing; return money and assets related to terrorism and terrorist financing in cases where such money and assets are owned, managed by agencies, organizations, or individuals but have been embezzled or illegally used by others to provide or support organizations or individuals related to terrorism and terrorist financing; annul decisions issued by themselves or decisions made by the authorized individuals as stipulated in Clause 3, Article 7 of Decree 93/2024/ND-CP.

- Within the scope of objectives and areas managed by the Ministry of National Defense, the Minister of National Defense (Hanoi, Vietnam) has the authority to decide on the confiscation, submission to the state budget, or destruction of money and assets related to terrorism and terrorist financing; return money and assets related to terrorism and terrorist financing in cases where such money and assets are owned, managed by agencies, organizations, or individuals but have been embezzled or illegally used by others to provide or support organizations or individuals related to terrorism and terrorist financing; annul decisions issued by themselves or decisions made by the authorized individuals as stipulated in Clause 4, Article 7 of Decree 93/2024/ND-CP.

- The Head of the Anti-terrorism Agency of the Ministry of Public Security, the Directors of Provincial/City Public Security (hereinafter referred to as Provincial Public Security) have the authority to request the postponement of transactions, decide on the temporary suspension of circulation, sealing, confiscation, or seizure of money and assets related to terrorism and terrorist financing as stipulated in Decree 93/2024/ND-CP; consider allowing organizations or individuals with money and assets that are suspended, sealed, confiscated, or seized to access and use all or part of the money and assets for essential needs of individuals, families, and for lawful obligations of organizations or individuals in cases where such organizations or individuals have no other money, assets, financial, or economic resources.

- Within the scope of objectives and areas managed by the Ministry of National Defense, the Head of the Anti-terrorism Agency of the Ministry of National Defense (Hanoi, Vietnam) has the authority to request the postponement of transactions, decide on the temporary suspension of circulation, sealing, confiscation, or seizure of money and assets related to terrorism and terrorist financing as stipulated in this Decree; consider allowing organizations or individuals with money and assets that are suspended, sealed, confiscated, or seized to access and use all or part of the money and assets for essential needs of individuals, families, and for lawful obligations of organizations or individuals in cases where such organizations or individuals have no other money, assets, financial, or economic resources.

More details can be found in Decree 93/2024/ND-CP which comes into force in Vietnam from September 1, 2024.

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