Proactively preventing the risk of proliferation financing in the precious metals and precious stones business sector

As Vietnam steps up the implementation of its international commitments on anti-money laundering, countering the financing of terrorism and countering proliferation financing (AML/CFT/CPF), raising the awareness and responsibility of business sectors at risk of misuse is of particular importance. The conference to disseminate and provide guidance on AML, CFT and CPF, organised by the Domestic Market Management and Development Department, Ministry of Industry and Trade, on 14, 16 and 18 September 2026 in Hanoi and Ho Chi Minh City, was a practical activity in implementing Decision No. 1139/QD-TTg of 26 June 2026 of the Prime Minister. The conference was also attended by the Chemical Corps - Standing Office 81, Ministry of National Defence; the Anti-Money Laundering Department, State Bank of Vietnam; the Department of Domestic Security, Ministry of Public Security; and relevant agencies, organisations and units in the precious metals and precious stones business sector.

Mr Nguyen Thanh Binh, Deputy Director General of the Domestic Market Management and Development Department, chaired and moderated the conference

Precious metals and precious stones businesses have characteristics such as high transaction values and assets that are liquid, easily transferred and can be used to conceal the origin of assets or the true party behind a transaction. These are factors that business organisations and individuals need to recognise when implementing preventive measures. With regard to proliferation financing, the requirement is not limited to identifying organisations and individuals named on the designated list, but extends to proactively identifying transactions, customers and relationships showing unusual signs. In particular, targeted financial sanctions (TFS) and the obligation to report suspicious transactions (STR) are important tools for stopping flows of funds and assets that may be used for proliferation financing. The conference also focused on disseminating this content to organisations and individuals trading in precious metals and precious stones.

An officer of the Chemical Corps - Standing Office 81 presenting on 14 September

An officer of the Chemical Corps - Standing Office 81 presenting on 16 September

Experience shows that the effectiveness of countering proliferation financing depends on coordination among state management agencies, law enforcement forces and the private sector. Every business, business establishment and person directly conducting transactions is a link in the prevention mechanism. Therefore, coordination between the Chemical Corps - Standing Office 81 and the relevant ministries, sectors, agencies and organisations in organising awareness-raising, dissemination and practical guidance activities is essential, helping to raise awareness, the ability to identify risks and responsibility for implementing preventive measures. This contributes to building a proactive, coherent and effective mechanism for countering proliferation financing, preventing at an early stage the risk of Vietnam being misused to conceal, tranship or financially support WMD proliferation activities./.

Vu Quang Dai - Centre 81.