Circular 57/2026/TT-NHNN on processes and procedures for supervision of anti-money laundering activities in monetary and banking sectors

CIRCULAR

On processes and procedures for supervision of anti-money laundering activities in the monetary and banking sectors

Pursuant to Law on the State Bank of Vietnam No. 46/2010/QH12, amended and supplemented under Law No. 23/2026/QH16;

Pursuant to the Law on Credit Institutions. No. 32/2024/QH15, amended and supplemented under Law No. 96/2025/QH15 and Law No. 23/2026/QH16;

Pursuant to the Anti-Money Laundering Law No. 14/2022/QH15, amended and supplemented under Law No. 23/2026/QH16;

Pursuant to the Government’s Decree No. 26/2025/ND-CP dated February 24, 2025, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam, amended and supplemented under Decree No. 198/2026/ND-CP;

At the proposal of the Director of the Anti-Money Laundering Department.

The Governor of the State Bank of Vietnam hereby promulgates the Circular on processes and procedures for supervision of anti-money laundering activities in the monetary and banking sectors.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Circular provides for processes and procedures for supervision of anti-money laundering activities applicable to reporting entities prescribed by the Anti-Money Laundering Law No. 14/2022/QH15, amended and supplemented under Law No. 23/2026/QH16 (hereinafter referred to as the Anti-Money Laundering Law), under the State Bank of Vietnam’s state management of monetary and banking activities (hereinafter referred to as the State Bank).

Article 2. Subjects of application

1. Units conducting supervision of anti-money laundering activities under decisions of the Governor of the State Bank (hereinafter referred to as supervising units).

2. Entities subject to supervision of anti-money laundering activities are reporting entities prescribed by the Anti-Money Laundering Law under the State Bank’s state management of monetary and banking activities (hereinafter referred to as supervised entities).

3. Other organizations and individuals involved in the processes and procedures for supervision of anti-money laundering activities.

Article 3. Interpretation of terms

For the purposes of this Circular, the terms below shall be construed as follows:

1. Supervision of anti-money laundering activities means the process whereby a supervising unit collects, aggregates and processes documents, information and data; assesses the level of compliance and the level of risk; and applies supervisory measures concerning anti-money laundering to supervised entities.

2. Compliance supervision means the supervising unit's review, monitoring, assessment, analysis and evaluation of compliance with the law on anti-money laundering and implementation of directions and requirements of competent state agencies by supervised entities.

3. Risk-based supervision means the supervising unit's assessment, analysis and evaluation of the risk level of a supervised entity, based on which supervisory resources, frequency and measures are allocated and applied according to the supervised entity’s money laundering risk level.

4. Competent state agencies’ directions and requirements applicable to supervised entities means directions and requirements issued by the State Bank, or by the State Bank at the request of another competent state agency, requiring supervised entities to perform certain tasks and activities specified in the following documents:

a) Inspection conclusions, audit conclusions, examination results, and decisions on handling matters concerning inspections and examinations relating to anti-money laundering activities;

b) Written recommendations and warnings issued in the supervision of anti-money laundering activities;

c) Other documents of the State Bank specifying particular requirements or tasks relating to anti-money laundering activities.

5. Contact with the supervised entity means a supervising unit’s request that the supervised entity submit reports and explanations, provide documents demonstrating the accuracy and completeness of documents, information and reports, and clarify matters relating to risks, compliance with the law on anti-money laundering, and incomplete compliance with competent state agencies’ directions and requirements for the purpose of supervision of anti-money laundering activities.

6. Management of the anti-money laundering supervisory database means the supervising unit's collection, updating, aggregation and use of documents, information and data for the supervision of anti-money laundering activities.

Article 4. Supervision principles

1. Supervision of anti-money laundering activities shall be conducted in accordance with law; shall ensure accuracy, objectivity, integrity and timeliness; and shall not impede the normal operations of supervised entities.

2. Compliance supervision and risk-based supervision shall be combined in a manner appropriate to the characteristics and risk levels of groups of supervised entities, available resources and supervisory practices.

3. Off-site supervision shall be combined with on-site inspections and examinations; coordination and information sharing shall be strengthened to ensure coordination between supervising units and units performing inspection and examination functions in formulating and implementing annual inspection and examination plans on anti-money laundering.

Article 5. Processes and procedures for supervision of anti-money laundering activities

Processes and procedures for supervision of anti-money laundering activities:

1. Step 1: Collecting, aggregating and processing documents, information and data.

2. Step 2: Conducting compliance supervision and risk-based supervision.

3. Step 3: Preparing supervision reports and proposing supervisory measures.

Article 6. Management, retention and use of documents, information and data

1. After being collected, aggregated and processed, documents, information and data shall be retained and managed in a systematic and complete manner for supervisory purposes in accordance with applicable law on archives.

2. The management, retention and use of documents, information and data subject classified as state secrets shall comply with the law on protection of state secrets.

3. The confidentiality of information and data provided by supervised entities shall be maintained in accordance with the Anti-Money Laundering Law and relevant laws.

4. Documents, information and data relating to the supervision of anti-money laundering activities shall be shared with and provided to competent domestic and foreign state agencies in accordance with the Anti-Money Laundering Law, the law on protection of state secrets and other relevant laws.

Chapter II

COLLECTION, AGGREGATION AND PROCESSING OF DOCUMENTS, INFORMATION AND DATA

Article 7. Collection of documents, information and data

1. Sources of documents, information and data serving the supervision of anti-money laundering activities include:

a) Information, documents, data and reports of supervised entities as prescribed by the law on anti-money laundering and this Circular;

b) Results of the national money laundering risk assessment; results of money laundering risk assessments conducted by reporting entities;

c) Information and reported data prescribed by applicable law on the State Bank’s statistical reporting regime;

d) Information on inspection and examination conclusions and post-inspection and post-examination handling concerning anti-money laundering;

dd) Relevant information obtained from the State Bank’s licensing activities;

e) Information from ratings and classifications of supervised entities by state management agencies (if any);

g) Reports requested by the State Bank or other competent agencies relating to anti-money laundering activities;

h) Competent state agencies’ directions and requirements applicable to supervised entities concerning anti-money laundering matters;

i) Working minutes, written explanations and other dossiers of supervised entities provided at the request of agencies and units performing inspection and examination functions and other competent agencies concerning anti-money laundering;

k) Documents, information and data relating to anti-money laundering obtained from units under the State Bank, competent domestic and foreign state agencies, and other sources (if any).

2. Supervising units shall collect information specified in Clause 1 of this Article from the State Bank's statistical reporting system, information systems supporting off-site supervision, other information systems of the State Bank (if any), and by methods appropriate to the sources and types of information and data to be collected.

3. In addition to documents, information and data provided under Clause 1 of this Article, supervising units shall, based on the requirements on anti-money laundering supervision, request the supervised entities to provide documents, information and data.

Article 8. Aggregation and processing of documents, information and data

Based on the sources of documents, information and data specified in Clauses 1 and 3, Article 7 of this Circular, supervising units shall aggregate and process them as follows:

1. Reviewing and classifying the information received; assessing the completeness of documents, information and data; and comparing and cross-checking the collected documents, information and data against historical data and other sources (if any).

2. Upon detecting documents, information or data that are inaccurate, have not been updated or require clarification for supervisory purposes, or matters relating to incomplete compliance with the law on anti-money laundering or directions and requirements of competent state agencies, or relating to money laundering risks, the supervising unit shall require the supervised entity to submit reports and explanations through contact with the supervised entity as prescribed in Chapter V of this Circular.

3. Based on the collected, aggregated and processed information, the supervising unit shall perform the activities specified in Chapters III, IV, V and VI of this Circular.

Chapter III

CONTENTS OF SUPERVISION OF ANTI-MONEY LAUNDERING ACTIVITIES

Article 9. Compliance supervision

Supervising units shall conduct compliance supervision of supervised entities with respect to the following matters:

1. Reviewing, monitoring, assessing, analyzing and evaluating compliance with the information and reporting regime prescribed in Articles 15, 25, 26, 34, 36 and 37 of the Anti-Money Laundering Law, its detailing documents, and relevant regulations on information and reporting regimes.

2. Reviewing, monitoring, assessing, analyzing and evaluating the supervised entities’ internal regulations in accordance with Article 24 of the Anti-Money Laundering Law and relevant guiding documents.

3. Supervising compliance with the competent state agencies’ directions and requirements applicable to supervised entities concerning anti-money laundering (if any).

Article 10. Risk-based supervision

Supervising units shall assess, analyze and evaluate the risk levels of supervised entities with respect to the following matters:

1. The money laundering risk assessment shall include:

a) Structural risk assessment, which means the assessment of money laundering risks arising from the scale of operations and organizational model of the supervised entity;

b) Inherent risk assessment, which means the assessment of money laundering risks arising from customers; products and services provided to customers; methods of distributing products and services; and geographic areas;

c) Assessment of money laundering risk control and prevention mechanisms, which means the assessment of risks arising from governance and management of anti-money laundering activities; the promulgation and implementation of anti-money laundering policies and internal regulations; and other relevant information (if any).

2. Periodically, supervising units shall require and provide guidance to supervised entities to provide documents, information and data relating to the money laundering risk assessment matters specified in Clause 1 of this Article for the assessment, analysis, scoring and classification of money laundering risk levels, specifically as follows:

a) Information serving structural risk assessment includes: operating licenses, total assets and management organizational structure; domestic and overseas operational networks; information on the parent bank of a foreign bank branch; and information on parent companies and subsidiaries (if any);

b) Information serving inherent risk assessment includes:

Money laundering risks arising from customers, including information on the number of customers, number of accounts and total transaction value, categorized by customers’ money laundering risk levels as classified by supervised entities; individual customers/institutional customers; resident customers/non-resident customers; and business lines;

Money laundering risks arising from products and services, including information on the number of customers and total value of customer transactions, categorized by products and services posing high money laundering risks;

Money laundering risks arising from methods of distributing products and services, including information on the number of customers, number of transactions and total value of transactions conducted through each distribution channel: in-person transactions, remote electronic transactions or other channels;

Money laundering risks arising from geographic areas, including information on the number of customers and total value of transactions involving countries or territories posing high money laundering risks or domestic geographic areas posing high money laundering risks;

c) Information serving the assessment of risk control and prevention mechanisms of supervised entities includes: information on governance and management of anti-money laundering activities; information on the promulgation and implementation of anti-money laundering policies and internal regulations; information on the assignment and arrangement of personnel performing anti-money laundering activities; information on the annual assessment and updating of money laundering risks and the development and promulgation of money laundering risk control policies; information on transaction monitoring processes and suspicious transaction reporting mechanisms; information on anti-money laundering training and professional development; information on internal control and internal audit of anti-money laundering activities; and information on the monitoring and remediation of audit findings (if any).

3. Supervising units shall conduct risk-based supervision in accordance with the assessment contents, methodologies and risk-scoring tools decided by the Governor of the State Bank for different groups of supervised entities in each period in order to assess, analyze, score and classify money laundering risk levels.

4. Supervising units shall report to the Governor of the State Bank the results of classification of supervised entities by risk level; consider and allocate supervisory resources; and propose the application of supervisory measures prescribed in Chapter VI of this Circular corresponding to the money laundering risk level identified for each supervised entity.

5. Supervising units shall use available sources of documents, information and data in combination with other sources of documents, information and data (if any) to determine the entities, frequency, contents and scope of supervision and examination for the formulation of periodic or ad hoc examination plans.

Chapter IV

PREPARATION OF SUPERVISION REPORTS AND DOSSIERS

Article 11. Preparation of supervision reports

1. Based on the results of compliance supervision and risk-based supervision prescribed in Chapter III of this Circular and applicable laws, supervising units shall:

a) Prepare annual and ad hoc reports on the supervision of anti-money laundering activities (if any arise) in accordance with Clauses 2 and 3 of this Article;

b) Propose and apply the supervisory measures prescribed in Chapter VI of this Circular (where necessary);

c) Recommend the amendment, supplementation or replacement of legal documents on anti-money laundering (if any).

2. Principles for the preparation, approval and submission of ad hoc reports on the supervision of anti-money laundering activities:

a) The supervising unit shall prepare an ad hoc report on the supervision of anti-money laundering activities upon detecting money laundering risks of the supervised entity that may adversely affect the industry or sector, or at the request of a competent authority, except in the case specified in Clause 3 of this Article;

b) The ad hoc report on the supervision of anti-money laundering activities shall be approved by the head of the supervising unit and submitted to the leadership of the State Bank for reporting.

3. Principles for the preparation, approval and submission of annual reports on the supervision of anti-money laundering activities:

a) Annual reports on the supervision of anti-money laundering activities shall be completed before January 31 of the following year;

b) Annual reports on the supervision of anti-money laundering activities shall be approved by the head of the supervising unit and submitted to the leadership of the State Bank for reporting.

Article 12. Supervision dossiers

1. Based on reports, documents, information and data received and collected from the supervised entity, the supervising unit shall prepare a supervision dossier for that supervised entity. Supervision dossier is a collection of data comprising documents, information and data collected concerning the supervised entity, periodic and ad hoc reports on the supervision of anti-money laundering activities, and dossiers concerning supervisory measures applied to the supervised entity (if any).

2. The supervision dossiers specified in Clause 1 of this Article shall be retained in accordance with the State Bank’s regulations on retention periods for banking dossiers and documents and Article 6 of this Circular.

Chapter V

CONTACT WITH SUPERVISED ENTITIES

Article 13. Forms of contact with supervised entities

Contact with supervised entities shall be conducted in the following forms:

1. Request for written explanations.

2. Direct working.

Article 14. Request for written explanations

1. Upon detecting documents, information or data with inaccurate contents and scope of supervision, or with contents and scope of supervision not yet updated or requiring clarification for supervisory purposes, or matters relating to the supervised entity’s incomplete compliance with the law on anti-money laundering, directions and requirements of competent state agencies, or relating to its money laundering risks, the supervising unit shall issue a written request requiring the supervised entity to provide explanation.

2. The supervised entity shall provide written explanation within the time limit specified in the written request for explanation, including at least the following:

a) Explanation for each specific request, including analysis of the current status and causes;

b) Proposed measures for correcting or updating information and data, or remedial plan, where required by the supervising unit.

Article 15. Direct working

1. Upon detecting documents, information or data with contents and scope of supervision that are inaccurate, have not been updated or require clarification for supervisory purposes, or matters relating to the supervised entity’s incomplete compliance with the law on anti-money laundering, directions and requirements of competent state agencies, or relating to its money laundering risks, the supervising unit shall organize direct working with the supervised entity.

2. At least 3 working days before the direct working session, the supervising unit shall provide written notice to the supervised entity, unless otherwise required by the competent state agency. The written notice shall clearly specify the participants, contents, time and venue of the working session.

3. The direct working result with a supervised entity shall be recorded in minutes and signed for confirmation by representatives of the supervising unit and the supervised entity.

Chapter VI

SUPERVISORY MEASURES

Article 16. Measures applied in supervision of anti-money laundering activities

Based on results of supervision of anti-money laundering activities, the supervising unit may apply one or more of the following measures:

1. Applying or adjusting supervisory measures corresponding to the supervised entity’s level of compliance and risk.

2. Issuing recommendations or warnings to the supervised entity.

3. Recommending the competent person to consider and handle in accordance with law, including recommending or proposing inspection or examination of the supervised entity upon detecting signs of legal violations or risks relating to anti-money laundering in its operations.

Article 17. Regular supervisory measures

1. For a supervised entity determined to have a medium money laundering risk level, based on the supervision results, the head of the supervising unit shall decide to apply the following supervisory measures:

a) Conducting off-site supervision through collection and analysis of data, information and periodic reports in accordance with the law on anti-money laundering;

b) Conducting, or proposing or recommending the competent agency to conduct on-site inspection or examination (where necessary);

c) Contacting the supervised entity and requiring it to review and remedy shortcomings and limitations identified through off-site supervision and on-site inspections and examinations within the prescribed time limit.

2. The supervising unit shall periodically monitor, review and update the risk level of the supervised entity:

a) Where the risk increases or the level of compliance declines, the supervising unit shall consider adjusting the applicable measures to the enhanced supervisory measures specified in Article 18 of this Circular;

b) Where the risk decreases and the level of compliance improves, the supervising unit shall consider adjusting the applicable measures to the reduced supervisory measures specified in Article 19 of this Circular.

Article 18. Enhanced supervisory measures based on compliance and risk levels

1. For a supervised entity determined to have a high money laundering risk level, based on the supervision results, the head of the supervising unit shall require the supervised entity to implement one or more of the following enhanced supervisory measures to mitigate money laundering risks:

a) Developing and implementing control measures for identified and assessed risks; submitting such risks to the competent authority for assessment or updating; and amending and supplementing the entity’s internal anti-money laundering processes and regulations (where necessary);

b) Increasing resources, technologies and measures for identifying, preventing and limiting risks;

c) Considering increasing the frequency and scope of internal controls concerning anti-money laundering and reporting the results to the supervising unit.

2. In addition to implementing the enhanced supervisory measures specified in Clause 1 of this Article, the supervising unit shall, based on the results of compliance supervision of anti-money laundering activities and other relevant factors, consider and decide to conduct one or more of the following activities:

a) Enhancing off-site supervision by requiring the supervised entity to provide and update data, information and reports concerning matters identified as posing high risks;

b) Issuing recommendations and warnings concerning factors identified as posing high risks and requiring the development of remedial plans;

c) Increasing the frequency of direct working with the person responsible for anti-money laundering activities of the supervised entity;

d) Conducting, or proposing or recommending that the competent agency conduct, on-site inspections or examinations of the supervised entity at a higher frequency than under regular supervision (where necessary).

3. The supervising unit shall periodically monitor, review and update the risk level of the supervised entity subject to enhanced supervisory measures. Where the risk is found to have decreased and the level of compliance has improved, the supervising unit shall consider terminating the enhanced supervisory measures and applying supervisory measures corresponding to the risk level in accordance with Articles 17 and 19 of this Circular.

Article 19. Reduced supervisory measures based on compliance and risk levels

1. For a supervised entity determined to have a low money laundering risk level, the head of the supervising unit shall, based on the supervision results, consider and decide to apply one or more of the following reduced supervisory measures:

a) Reducing, or proposing or recommending competent agencies to reduce the frequency or duration of inspections and examinations compared with those applicable to supervised entities having high or medium risk levels (where necessary);

b) Shifting the focus from on-site inspections and examinations to off-site supervision through the analysis of reports, data, information on compliance and other information sources (if any);

c) Reducing the frequency of contact and direct working between the supervising unit and the supervised entity.

2. The application of reduced supervisory measures shall not exempt the supervised entity from its responsibility to comply with the law on anti-money laundering.

3. The supervising unit shall periodically monitor, review and update the risk level of the supervised entity subject to reduced supervisory measures. Where the risk is found to have increased, the supervising unit shall consider terminating the reduced supervisory measures and applying supervisory measures corresponding to the risk level in accordance with Articles 17 and 18 of this Circular.

Article 20. Recommendations and warnings to supervised entities

1. Based on the supervision results, the head of the supervising unit shall issue written recommendations and warnings to the supervised entity concerning identified risks, shortcomings and limitations.

2. Upon receiving recommendations and warnings, the supervised entity shall promptly submit reports and explanations as required by the supervising unit, including at least the following contents: the current status, causes and remedial plan. The time limit for the supervised entity to submit reports and explanations shall be specified in the written recommendations and warnings sent to the supervised entity. The supervising unit shall monitor and urge the supervised entity’s implementation of the recommendations and warnings.

3. Where the supervised entity fails to implement or incompletely implements recommendations and warnings concerning money laundering risks, the supervising unit shall recommend the competent authority to apply the supervisory measures specified in Clause 3, Article 16 of this Circular.

Chapter VII

RESPONSIBILITIES OF RELATED ORGANIZATIONS AND INDIVIDUALS

Article 21. Responsibilities of the Anti-Money Laundering Department

1. To act as the focal point in advising the Governor of the State Bank to provide guidance on and organize the implementation of anti-money laundering supervision applicable to reporting entities under the Law on Anti-Money Laundering that fall within the State Bank of Vietnam’s state management of monetary and banking activities; and to perform the tasks of a supervising unit in accordance with this Circular, except for the tasks specified in Clause 3, Article 25 of this Circular.

2. To assume the prime responsibility for developing and issuing the supervision manual and professional guidance on the supervision of anti-money laundering activities.

3. To advise the Governor of the State Bank on assigning supervising units for certain supervised entities according to their scale and management areas and in a manner appropriate to their risk levels in each period.

4. To provide information on the supervision of anti-money laundering activities to units under the State Bank performing inspection and examination functions before November 10 each year for the formulation of inspection and examination plans.

5. To assume the prime responsibility for, and coordinate with relevant units under the State Bank in, developing databases and information technology systems for sharing information and supporting the supervision of anti-money laundering activities.

Article 22. Responsibilities of the State Bank Inspectorate

1. To formulate annual anti-money laundering inspection and examination plans for entities subject to inspection and examination under its management, taking into account information on the supervision of anti-money laundering activities annually provided by supervising units.

2. To provide supervising units with information relating to anti-money laundering inspection and examination conclusions and post-inspection and post-examination handling of entities subject to inspection and examination, and other relevant information serving supervisory activities.

Article 23. Responsibilities of the Credit Institutions Supervision Department

1. To provide supervising units with information and data on licensing activities, rating results and other relevant information (upon request) concerning entities falling within the functions and duties of the Credit Institution Supervision Department.

2. To coordinate with supervising units in the supervision of anti-money laundering activities.

Article 24. Responsibilities of the Payment Department

1. To provide supervising units with information and data on licensing, examination results relating to anti-money laundering activities and other relevant information (upon request) concerning entities falling within the functions and duties of the Payment Department.

2. To coordinate with supervising units in the supervision of anti-money laundering activities.

Article 25. Responsibilities of SBV regional branches

1. To formulate annual anti-money laundering inspection and examination plans for entities subject to inspection and examination under the management, taking into account information on money laundering supervision annually provided by supervising units.

2. To provide the focal supervising unit with information and data on licensing activities, inspection and examination conclusions, and post-inspection handling concerning anti-money laundering of entities subject to inspection and examination for supervisory purposes.

3. To supervise anti-money laundering activities of supervised entities under their management within their respective regions as assigned by the Governor of the State Bank.

Article 26. Responsibilities of other relevant units under the State Bank

1. To provide information, documents and data as required by the supervising units in accordance with this Circular and law.

2. To coordinate with supervising units in the supervision of anti-money laundering activities.

Article 27. Responsibilities of supervised entities

1. To submit reports and provide documents, information and data serving supervision and annual money laundering risk scoring in accordance with Clauses 1 and 3, Article 7 and Clause 2, Article 10 of this Circular and the law on anti-money laundering; and to take responsibility for the accuracy and truthfulness of the reports, documents, information and data provided.

2. To comply with the contents and requirements of supervising units upon receiving a request for written explanation or direct working in accordance with Chapter V of this Circular.

3. To fully comply with measures applied in anti-money laundering supervisory as prescribed in Chapter VI of this Circular.

4. To perform other related responsibilities in accordance with law.

Chapter VIII

IMPLEMENTATION PROVISIONS

Article 28. Effect

This Circular takes effect from December 01, 2026.

Article 29. Implementation organization

The Director of the Anti-Money Laundering Department, heads of units under the State Bank, and supervised entities prescribed in the Law on Anti-Money Laundering in the monetary and banking sectors shall organize the implementation of this Circular./.