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VPBank’s Anti-Money Laundering (AML) policy

By acknowledging the importance of banking system in anti- money laundering and counter terrorist financing (AML/CTF), VPBank has been gradually enhancing the capacity of Risk Management & Compliance, especially in compliance with the statutory regulations and international practices of AML..

By acknowledging the importance of banking system in anti- money laundering and counter terrorist financing (AML/CTF), VPBank has been gradually enhancing the capacity of Risk Management & Compliance, especially in compliance with the statutory regulations and international practices of AML. Accordingly, VPBank’s leadership has mainly focused on investment of policy, mechanism, human resources and IT system with a view to preventing money-laundering transactions.

VPBank has adopted compliance structure for AML/ CTF on the basis of fulfilment of mechanism and policy by introduction of AML regulations; detailed guidance on AML reporting; set-up of procedures on identification and update of customer information in VPBank’s system; Modernization of process of screening transactions, detecting and dealing with doubtful transactions as well as checking and filtering the punishment and sanction list; regularly update and issue guidelines, warnings, latest list related to punishment and sanction for investigation in line with the statutory regulations and international practices of AML; development of an AML-specialized team in every business units…

Training and communication of AML have also been promoted through a wide range of activities including in-depth training course for every new staff, a staff survey of understanding about laws and VPBank’s regulations against money-laundering activities; bank-wide newsletters about AML…

With such efforts, VPBank is committed to:

  • Fully comply with AML regulations under Vietnam and international laws.
  • Enhancing KYC and supervision to avoid financial loss, reputational risk and legal risk related to AML.
  • Making endless efforts to protect customers, the Bank and its staffs from becoming victims or unintentionally abetting money-laundering activities.

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