THE STATE BANK OF VIETNAM

Circular No. 41/2011/TT-NHNN of December 15, 2011, guiding risk-based identification and updating of customer information in service of money laundering prevention and control

Pursuant to June 16, 2010 Law No. 46/2010/QH12 on the State Bank of Vietnam;

Pursuant to June 16, 2010 Law No. 47/2010/QH12 on Credit Institutions; Pursuant to the Government’s Decree No. 96/2008/ND-CP of August 26, 2008, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Government’s Decree No. 74/2005/ND-CP of June 7, 2005, on the prevention and control of money laundering;

In furtherance of the Prime Minister’s Decision No. 287/QD-TTg of February 24, 2011, amending and supplementing the Prime Minister’s Decision No. 1451/QD-TTg of August 12, 2010, promulgating the national action plan on money laundering and terrorism financing combat; The State Bank of Vietnam guides risk-based identification and updating of customer information in service of money laundering prevention and control as follows:

Section 1

GENERAL PROVISIONS Article 1. Scope of regulation

This Circular guides risk-based identification and updating of customer information in service of money laundering prevention and control.

Article 2. Subjects of application

This Circular applies to:

1. Credit institutions and foreign bank branches established and operating under the Law on Credit Institutions. ....

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