VIETNAM PUSHES FORWARD WITH NEW AML LAW AND ASSOCIATED IMPLEMENTATION GUIDANCE
November 1st, 2018
FINANCIAL institutions and other anti-money laundering reporting sectors within Vietnam have had to grapple, since January 1, with a revised Penal Code, which has changed how money laundering is defined in criminal law.
In its 2018, International Narcotics Control Strategy Report (INCSR), the USA State Department notes that this “revises the money laundering offence and adds criminal liability for legal persons involved in money laundering.”
Under the reforms to the code, prison sentences of up to five years could be ordered for money laundering activities ...
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