HCMC – Electronic money transfers worth VND500 million or higher, or in foreign currency of equivalent value, must be reported to the Anti-Money Laundering Department at the State Bank of Vietnam (SBV).
New regulations in the SBV’s Circular 27/2025, with effect from November 1 revises the reporting thresholds for electronic fund transfers. Financial institutions and payment intermediaries are now required to report domestic transactions from VND500 million upwards and cross-border transfers from US$1,000 or more.
Institutions must also review, suspend, or decline transactions if suspicious signs are detected.
For individual customers, reports must include full name, date of birth, ID or passport number, visa number (if any), registered address, and nationality. For organizations, the report must provide business name, address, establishment license, and tax code, among other details.
The circular also tightens customs declaration requirements. Individuals entering or leaving Vietnam must declare if they carry precious metals (excluding gold), gemstones, or negotiable instruments worth VND400 million or more.
Reporting entities are required to maintain current internal procedures and risk management systems until December 31, 2025, and must fully update them to comply with the new regulations by January 1, 2026.
