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Standing Office 81 (SOVNPA 81) emblem Viet Nam NVietnam National Presiding Agency
on Countering the Proliferation of Weapons of Mass Destruction Standing Office 81
Notices

Targeted financial sanctions obligations and designated lists relating to the proliferation of weapons of mass destruction and proliferation financing

Notices

30 October 2026UN Security Council updates the sanctions list (30/10/2026)

31 October 2026

What must financial institutions do under Law 13/2026?

Tiếng Việt

Unofficial translation from the Vietnamese original.

Clause 1, Article 26 of Law No. 13/2026/QH16 lists the obligations of financial institutions and designated non-financial businesses and professions:

  • Customer due diligence – collecting, updating and verifying customer information; risk assessment and risk-based customer classification; transaction monitoring; internal rules; reporting, provision and retention of records.
  • Regular screening of customers, beneficiaries, beneficial owners, representatives, authorised persons, transactions and assets against the list of designated entities and individuals and related risk alerts.
  • Freezing accounts without delay and notifying the competent authority within 24 hours of the freeze.
  • Not providing funds, assets or financial services to or for the benefit of designated entities and individuals.
  • Delaying or refusing transactions and terminating customer relationships where grounds exist.
  • Reviewing and assessing risk for new products and services, new technologies, new payment methods, digital assets and other means of value transfer.
  • Establishing training programmes on countering proliferation financing.