Seminar discusses anti-money laundering measures

(VOV) - Experts representing Japanese and Vietnamese financial institutions and banks met in HCM City on June 18 discussing how to prevent money laundering in Vietnam.

The Vietnam Banks Association (VNBA)  the Company Data and Financial Indicators (Komtex), and Japan’s TIS Group co-organised the seminar.

Delegates examined issues related to the Law on Anti-Money Laundering and the State Bank of Vietnam’s recent anti-money laundering efforts.

Scholars highlighted major anti-money laundering priorities like understanding customers, training cadres, and monitoring and screening transactions.

Bank representatives shared their anti-money laundering experiences in the Republic of Korea and Japan and presented the application of technological solutions to the fight.  

Deputy Head of the Anti-Money Laundering Department under the State Bank of Vietnam Nguyen Van Ngoc admitted Vietnam’s anti-money laundering campaign remains inadequate.

Applying advanced technology will be a major step towards correcting this deficiency, he said.