After hearing opinions from ministries and relevant agencies, Phoc, who is also head of the committee, directed the State Bank of Vietnam to incorporate feedback and finalise its report with specific, clear tasks and solutions, along with well-defined responsibilities for the coming time.

He also urged ministries and sectors, in line with their mandates, to pool all available resources to fulfill the tasks set out in the plan, increase investment in workforce and technology for anti-money laundering work, review and amend legal regulations to ensure consistency with conclusions issued by competent authorities.

They were further asked to perform their tasks according to the approved plan, in line with the national legal regulations and international practices, while arranging documents, data, and reports in a clear and coherent manner to underscore Vietnam’s firm commitment to combating money laundering.

Central bank to strengthen anti-money laundering efforts with new department

The newly established Department of Anti-Money Laundering will operate under the State Bank of Vietnam (SBV) from January 5 next year.