Act 2022
Luật Phòng, chống rửa tiền số 14/2022/QH15 (Law No. 14/2022/QH15 on Anti-Money Laundering)
Effective: 1 Mar 2023
Plain-English summary
Sets customer due diligence, internal AML rules, suspicious transaction reporting to the State Bank and five-year record keeping for financial institutions and designated non-financial businesses. Also covers beneficial ownership information held by legal persons and trustees. Law 23/2026/QH16 amends it from 1 December 2026.
Who it applies to
Banking · NBFC / Non-bank Lending · Insurance · Capital Markets · DNFBPs (Lawyers, Accountants, Dealers)
Topics
AML / CFT / Sanctions
Obligations arising from this law or regulation
| Obligation | Timing | Regulator | Source | Detail |
|---|---|---|---|---|
| Collect and update beneficial ownership information | Ongoing; kept up to date | — | source | |
Art. 21(2) requires legal persons to collect, update and keep their own basic information, including beneficial owners, while Art. 21(1) requires registration and licensing authorities to hold the same data. Art. 22(1)(a) requires trustees to record the settlor, trustee and beneficiaries and the person with ultimate control. Reporting entities identify beneficial owners under Art. 10(2). |
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| AML record retention | Retention period 5 years | — | source | |
Art. 38(2)(a) requires CDD records, analyses and related documents to be kept for 5 years from the end of the transaction, account closure or report date. Art. 38(2)(b) sets 5 years from the transaction date for reports under Arts. 25, 26 and 34. |
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| No obligations match these filters. | ||||
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