Resolution No. 03/2019/NQ-HDTP guiding Penal Code’s Article 324 on money laundering

05 circumstances for criminalization of money laundering

On May 24, 2019, the Judicial Council of the Supreme People’s Court promulgates the Resolution No. 03/2019/NQ-HDTP on guiding the application of the Penal Code’s Article 324 on money laundering.

Accordingly, there are 05 circumstances to criminalization the money laundering as follow:

- Participating directly or indirectly in financial and banking transactions such as: Opening an account and depositing or withdrawing money at a credit institution or foreign bank branch; Contributing capital or mobilizing capital to an enterprise with money and property in any form…in order to conceal the illegal origin of money or property acquired through the commission of a crime.

- Participating casino activities; Participating in prize-winning games; Purchasing and selling antiques... in order to conceal the illegal origin of money or property acquired through the commission of a crime.

- Using money or property acquired through the commission of a crime for business activities to perform one, several or all stages of the investment process, from production to sale of products or provision of services on the market for profit-making purpose.

- Using money or property acquired through the commission of a crime for other activities such as to provide services, build schools or hospitals or using it for the sponsorship, charity, humanitarian aid purpose or other activities.

- Obstructing the verification of information about the origin, true nature, location, movement or ownership of money or property acquired through the commission of a crime, for example: providing false documents and information; refusing to provide or insufficiently providing; destroying, falsifying or erasing documents and evidences, etc.

For further details of the Resolution 03/2019/NQ-HDTP, Click here