Viet Nam adopts new anti-money laundering measures

The Vietnamese government has issued a new resolution. The new resolution introduces special measures to strengthen anti-money laundering regulations and meet international commitments on tax transparency of beneficial ownership.

These special measures are expected to make it easier to identify the individuals who ultimately own or control assets or transactions. The resolution also requires greater transparency for legal arrangements such as trusts, while strengthening customer risk classification and verification procedures. The new rules provide a clearer legal framework for banks, financial institutions and other reporting entities to implement anti-money laundering measures consistently.