Decision 11/2023/QD-TTg on high value transactions subject to reporting

DECISION

On high value transactions subject to reporting

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Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing a Number of Articles of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on Anti-Money Laundering dated November 15, 2022;

At the proposal of the Governor of the State Bank of Vietnam;

The Prime Minister hereby promulgates the Decision on high value transactions subject to reporting.

Article 1. Scope of regulation

This Decision prescribes the level of high value transactions to be reported to the State Bank of Vietnam as prescribed in Clause 2, Article 25 of the Law on Anti-Money Laundering.

Article 2. Subjects of application

Financial institutions, and related organizations and individuals engaged in non-financial business lines as defined in Clauses 1 and 2, Article 4 of the Law on Anti-Money Laundering.

Article 3. High value transactions subject to reporting

The value level of high value transactions subject to reporting is VND 400,000,000 (four hundred million) or more.

Article 4. Effect

1. This Decision takes effect from December 1, 2023.

2. This Decision replaces the Prime Minister’s Decision No. 20/2013/QD-TTg dated April 18, 2013, prescribing the value level of high value transactions subject to reporting.

3. Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of People’s Committees of provinces and centrally-run cities, and related organizations and individuals shall implement this Decision./.