{"id":23748107,"date":"2024-04-23T14:17:47","date_gmt":"2024-04-23T07:17:47","guid":{"rendered":"https:\/\/smvn-law.com\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/"},"modified":"2024-07-06T12:54:04","modified_gmt":"2024-07-06T05:54:04","slug":"regulations-on-electronic-funds-transfers-in-anti-money-laundering","status":"publish","type":"post","link":"https:\/\/smvn-law.com\/en\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/","title":{"rendered":"Regulations on electronic funds transfers in anti-money laundering"},"content":{"rendered":"\n<p><strong><em>The State Bank of Vietnam has officially issued Circular 09\/2023\/TT-NHNN, a guiding document for the implementation of specific regulations in the Anti-Money Laundering Law.<\/em><\/strong><\/p>\n\n<p>This new circular sets out clear regulations on the criteria and methods for assessing money laundering risks at reporting entities; risk control procedures related to money laundering and customer classification based on risk levels; internal regulations for money laundering prevention; as well as reporting requirements for large transactions, suspicious transactions, and electronic funds transfers.<\/p>\n\n<p>Specifically, this circular details the regulations related to electronic funds transfers as follows:<\/p>\n\n<ol class=\"wp-block-list\">\n<li>Regarding financial institutions involved in electronic funds transfers:\n<ul class=\"wp-block-list\">\n<li><strong>The initiating financial institution <\/strong> is the entity that issues the electronic funds transfer order and executes the transfer on behalf of the issuer;<\/li>\n\n\n\n<li><strong>The intermediary financial institution <\/strong> is the entity that receives and forwards the electronic funds transfer order from the initiating institution or from another intermediary financial institution;<\/li>\n\n\n\n<li><strong>The beneficiary financial institution <\/strong> is the entity that receives the electronic funds transfer order directly from the initiating institution or through an intermediary institution and disburses the funds to the beneficiary.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Domestic financial institutions participating in electronic funds transfers must:\n<ul class=\"wp-block-list\">\n<li><strong>For initiating institutions<\/strong>: Only conduct transactions when information about the electronic funds transfer order is complete and accurate in accordance with the laws on non-cash payments and foreign exchange management;<\/li>\n\n\n\n<li><strong>For intermediary <\/strong> <strong>and beneficiary institutions<\/strong>: Measures must be in place to identify incomplete or inaccurate electronic funds transfer information and to apply appropriate handling measures such as refusal, suspension of transactions, post-transaction control measures, or review and reporting of suspicious transactions.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Reporting requirements:\n<ul class=\"wp-block-list\">\n<li>Domestic electronic funds transfers valued at 500 million VND or more;<\/li>\n\n\n\n<li>International electronic funds transfers valued at 1,000 USD or more, or the equivalent value in other foreign currencies.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>The State Bank of Vietnam has officially issued Circular 09\/2023\/TT-NHNN, a guiding document for the implementation of specific regulations in the Anti-Money Laundering Law. This new circular sets out clear regulations on the criteria and methods for assessing money laundering risks at reporting entities; risk control procedures related to money laundering and customer classification based [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23746143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[75],"tags":[83,87],"class_list":["post-23748107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-regulations","tag-cryptocurrency","tag-legal-regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.12 (Yoast SEO v20.12) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Regulations on electronic funds transfers in anti-money laundering - C\u00f4ng ty Lu\u1eadt TNHH SMVN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/smvn-law.com\/en\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Regulations on electronic funds transfers in anti-money laundering\" \/>\n<meta property=\"og:description\" content=\"The State Bank of Vietnam has officially issued Circular 09\/2023\/TT-NHNN, a guiding document for the implementation of specific regulations in the Anti-Money Laundering Law. This new circular sets out clear regulations on the criteria and methods for assessing money laundering risks at reporting entities; risk control procedures related to money laundering and customer classification based [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/smvn-law.com\/en\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/\" \/>\n<meta property=\"og:site_name\" content=\"C\u00f4ng ty Lu\u1eadt TNHH SMVN\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-23T07:17:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-06T05:54:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/smvn-law.com\/wp-content\/uploads\/2024\/04\/avatar1690965204151-1690965205890481338916.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"472\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin_smvn_2023\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin_smvn_2023\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/smvn-law.com\/en\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/\",\"url\":\"https:\/\/smvn-law.com\/en\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/\",\"name\":\"Regulations on electronic funds transfers in anti-money laundering - C\u00f4ng ty Lu\u1eadt TNHH SMVN\",\"isPartOf\":{\"@id\":\"https:\/\/smvn-law.com\/#website\"},\"datePublished\":\"2024-04-23T07:17:47+00:00\",\"dateModified\":\"2024-07-06T05:54:04+00:00\",\"author\":{\"@id\":\"https:\/\/smvn-law.com\/#\/schema\/person\/7041ce19fefaa23ec8f3ef2f65eddd21\"},\"breadcrumb\":{\"@id\":\"https:\/\/smvn-law.com\/en\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/smvn-law.com\/en\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/smvn-law.com\/en\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Trang ch\u1ee7\",\"item\":\"https:\/\/smvn-law.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Uncategorized @vi\",\"item\":\"https:\/\/smvn-law.com\/chuyen-muc\/uncategorized-vi\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Regulations on electronic funds transfers in anti-money laundering\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/smvn-law.com\/#website\",\"url\":\"https:\/\/smvn-law.com\/\",\"name\":\"C\u00f4ng ty Lu\u1eadt TNHH SMVN\",\"description\":\"Chuy\u00ean nghi\u1ec7p - T\u1eadn t\u00e2m\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/smvn-law.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/smvn-law.com\/#\/schema\/person\/7041ce19fefaa23ec8f3ef2f65eddd21\",\"name\":\"admin_smvn_2023\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/smvn-law.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/5bfae23015d5fd27248621c014e41e9ed4d54e7cbbb93de7f406187ac48a96d3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/5bfae23015d5fd27248621c014e41e9ed4d54e7cbbb93de7f406187ac48a96d3?s=96&d=mm&r=g\",\"caption\":\"admin_smvn_2023\"},\"sameAs\":[\"https:\/\/smvn-law.com\"],\"url\":\"https:\/\/smvn-law.com\/en\/author\/admin_smvn_2023\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Regulations on electronic funds transfers in anti-money laundering - C\u00f4ng ty Lu\u1eadt TNHH SMVN","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/smvn-law.com\/en\/regulations-on-electronic-funds-transfers-in-anti-money-laundering\/","og_locale":"en_US","og_type":"article","og_title":"Regulations on electronic funds transfers in anti-money laundering","og_description":"The State Bank of Vietnam has officially issued Circular 09\/2023\/TT-NHNN, a guiding document for the implementation of specific regulations in the Anti-Money Laundering Law. 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This new circular sets out clear regulations on the criteria and methods for assessing money laundering risks at reporting entities; risk control procedures related to money laundering and customer classification based&hellip;","_links":{"self":[{"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/posts\/23748107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/comments?post=23748107"}],"version-history":[{"count":1,"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/posts\/23748107\/revisions"}],"predecessor-version":[{"id":23748108,"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/posts\/23748107\/revisions\/23748108"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/media\/23746143"}],"wp:attachment":[{"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/media?parent=23748107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/categories?post=23748107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smvn-law.com\/en\/wp-json\/wp\/v2\/tags?post=23748107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}