The Domestic Market Surveillance and Development Agency under the Ministry of Industry and Trade is stepping up the dissemination and provision of guidance on regulations concerning anti-money laundering (AML), counter-terrorist financing (CTF), and counter-proliferation financing (CPF) for organizations and individuals engaged in the business of precious metals and gemstones.
Conference on Disseminating and Providing Guidance on Anti-Money Laundering for Organizations and Individuals Engaged in the Precious Metals Business.
Raising Awareness and Compliance Responsibilities of Business Establishments
This initiative contributes to raising awareness of risks and legal compliance responsibilities among business entities, while strengthening coordination between state management agencies and enterprises in building a transparent and secure business environment.
Implementing Decision No. 1139/QĐ-TTg dated June 26, 2026 of the Prime Minister promulgating the National Action Plan to implement the commitments of the Government of Vietnam on anti-money laundering, counter-terrorist financing, and counter-proliferation financing, on September 14, 16, and 18, 2026, the Domestic Market Surveillance and Development Agency, in coordination with the Vietnam Gold Business Association, organized dissemination and guidance conferences in Hanoi and Ho Chi Minh City.
The focus of these activities is to disseminate legal regulations and raise awareness of the risks of money laundering, terrorist financing, and proliferation financing among organizations and individuals engaged in the business of precious metals and gemstones.
This is also a sector subject to the scope of anti-money laundering legislation. The 2022 Law on Anti-Money Laundering stipulates that regulated entities include financial institutions; organizations and individuals engaged in relevant non-financial business sectors and professions; as well as relevant organizations, individuals, and agencies. The Law defines money laundering as an act committed by an organization or individual to legitimize the origin of assets derived from criminal activities.
The conferences organized by the Domestic Market Surveillance and Development Agency focused on updating participants on the results of the national money laundering risk assessment and administrative sanctions for violations in the field of anti-money laundering.
Accordingly, the requirements for dissemination and guidance go beyond simply helping business entities understand the regulations, and also aim to enhance their capacity to identify risks and fully fulfill their statutory obligations.
The conferences organized by the Domestic Market Surveillance and Development Agency focused on updating participants on the results of the national money laundering risk assessment; the legal framework on anti-money laundering and the obligations of reporting entities, including the obligation to report suspicious transactions; and regulations on administrative sanctions for violations in the field of anti-money laundering.
Regarding counter-terrorist financing, the guidance focused on the results of the national risk assessment, the obligations of reporting entities, targeted financial sanctions, and suspicious transaction reporting. Regulations concerning obligations to prevent proliferation financing, including targeted financial sanctions and suspicious transaction reporting, were also disseminated to participating organizations and individuals.
Through these activities, legal requirements are directly linked to the responsibilities of business entities. Market surveillance authorities and organizations and individuals engaged in the business of precious metals and gemstones are responsible for complying with regulations on anti-money laundering and counter-terrorist financing; conducting customer due diligence for large-value transactions as prescribed; retaining transaction information and records; reporting large-value transactions and suspicious transactions; and cooperating in providing information to competent authorities upon request.
Properly understanding and fully fulfilling these obligations is important to the operations of organizations and individuals engaged in the business. Requirements concerning customer identification, record and document retention, and transaction reporting directly support the prevention, identification, and handling of related risks.
Strengthening Coordination Between Management Agencies and Enterprises
The training and guidance activities involved various specialized agencies responsible for anti-money laundering, counter-terrorist financing, and counter-proliferation financing, including the Anti-Money Laundering Department under the State Bank of Vietnam; the Internal Security Department under the Ministry of Public Security; the Chemical Corps – Standing Agency 81 under the Ministry of National Defence; the Vietnam Gold Business Association; organizations and individuals engaged in the business of precious metals and gemstones; and representatives of relevant units under the Ministry of Industry and Trade, including the Department of Chemicals, the Department of Industrial Safety Techniques and Environment, and the Vietnam E-commerce and Digital Economy Agency.
The participation of specialized agencies helped ensure that the guidance covered the legal framework, risk identification, and specific obligations of reporting entities. At the same time, the program provided opportunities for speakers and state management agencies to engage directly with organizations and individuals engaged in the precious metals and gemstone business and address difficulties and obstacles arising during the implementation of legal regulations.
This approach links legal dissemination with practical implementation requirements. Establishing a direct channel for dialogue helps business establishments better understand their responsibilities, while enabling management agencies to identify issues arising during the compliance process and improve the effectiveness of their guidance.
Mr. Nguyen Thanh Binh, Deputy Director of the Domestic Market Surveillance and Development Agency, emphasized the importance of disseminating and communicating legal regulations, particularly regulations on anti-money laundering.
Mr. Nguyen Thanh Binh, Deputy Director of the Domestic Market Surveillance and Development Agency, emphasized that communicating and disseminating legal regulations, particularly those concerning anti-money laundering, counter-terrorist financing, and counter-proliferation financing, is important for the implementation and completion of the National Action Plan to fulfill the commitments of the Government of Vietnam to the Financial Action Task Force (FATF), with a view to having Vietnam removed from the enhanced monitoring list while ensuring the maximum protection of national interests.
In light of these requirements, improving the effectiveness of anti-money laundering efforts needs to be closely linked to incorporating legal regulations into the regular operations of each business entity. For organizations and individuals engaged in the business of precious metals and gemstones, properly complying with requirements on customer identification, record retention, transaction reporting, and cooperation in providing information constitutes not only a legal obligation but also contributes to greater transparency in business operations.
The conference also served as an additional bridge between state management agencies and the business community. By raising awareness, providing guidance on obligations, and addressing implementation-related difficulties, these activities contribute to strengthening legal compliance awareness, preventing risks, and promoting a transparent, secure, sound, and internationally integrated business environment for the precious metals and gemstone sector.