Revised Anti-Money Laundering Law and Thrift Practice Resolution Passed by NA

The National Assembly (NA) adopted the revised Law on Money Laundering Prevention and Control and a resolution on promoting the implementation of policies and law on thrift practice and wastefulness prevention on November 15.

0
727
The plenary sitting of the National Assembly on November 15 (Photo: NDO/Duy Linh)
The plenary sitting of the National Assembly on November 15 (Photo: NDO/Duy Linh)

The revised Law on Money Laundering Prevention and Control was passed by an overwhelming majority of 483 out of 488 legislators present at the plenary sitting during the 15th parliament’s fourth session. The law, which consists of four chapters with 66 articles, will come into effect on March 1, 2023. It outlines measures for preventing, detecting, and dealing with organizations or individuals involved in money laundering, as well as the responsibilities of agencies, organizations, and individuals in money laundering prevention and control. The law also emphasizes international cooperation in combatting money laundering and specifically targets the financing of terrorism and the proliferation of weapons of mass destruction. The resolution on promoting the implementation of policies and laws on thrift practice and wastefulness prevention was also widely supported, with 487 out of 488 legislators showing their approval. The resolution calls for a nationwide campaign on thrift practice and wastefulness control to be launched in 2023. The government will lead a movement to promote thrift practice and wastefulness prevention in production and consumption activities at all levels and sectors. It will also recognize and reward exemplary efforts and expand the role models in this area. The resolution also outlines general orientations, tasks, and solutions for this work.

Nhandan