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THE STATE BANK
OF VIETNAM
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THE SOCIALIST
REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No.: 07/VBHN-NHNN
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Hanoi, January
28, 2022
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DECREE
PENALTIES FOR
ADMINISTRATIVE VIOLATIONS IN MONETARY AND BANKING SECTOR
The Government’s Decree No. 88/2019/ND-CP dated
November 14, 2019 prescribing penalties for administrative violations in
monetary and banking sector, coming into force from December 31, 2019, is
amended by:
The Government’s Decree No. 143/2021/ND-CP dated
December 31, 2021 providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
Pursuant to the Law on Organization of the
Government dated June 19, 2015;
Pursuant to the Law on penalties for
administrative violations dated June 20, 2012;
Pursuant to the Law on State Bank of Vietnam
dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated
June 16, 2010, and the Law on amendments to the Law on Credit Institutions
dated November 20, 2017;
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Pursuant to the Law on Anti-money Laundering
dated June 18, 2012;
Pursuant to the Law on Anti-terrorism dated June
12, 2013;
Pursuant to the Law on Negotiable Instruments
dated November 29, 2005;
Pursuant to the Ordinance on Foreign Exchange
dated December 13, 2005 and the Ordinance on amendments to the Ordinance on
Foreign Exchange dated March 18, 2013;
At the request of the Governor of the State Bank
of Vietnam (“SBV”);
The Government promulgates a Decree prescribing
penalties for administrative violations in monetary and banking sector 1.
Chapter I
GENERAL PROVISIONS
Article 1. Scope
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2. Administrative violations in monetary and
banking sector include:
a) Violations against regulations on management and
use of licenses;
b) Violations against regulations on organization
and management;
c) Violations against regulations on shares, share
certificates and stakes;
d) Violations against regulations on capital
mobilization and service charges;
dd) Violations against regulations on credit
extension, offer and acceptance of trusteeship, and interbank operations;
e) Violations against regulations on provision of
credit information services;
g) Violations against regulations on foreign
exchange operations and gold trading;
h) Violations against regulations on payment, cash
and vault management;
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k) Violations against regulations on guarantee of
safe operation of credit institutions and FBBs;
l) Violations against regulations on deposit
insurance;
m) 2
Violations against regulations on anti-money laundering; anti-terrorism
financing; counter to financing of proliferation of weapons of mass
destruction;
n) Violations against regulations on provision of
information and reporting;
o) Violations against regulations on obstruction of
inspection and failure to comply with request of competent officials;
p) Violations against regulations on debt trading
and settlement;
q) Violations against regulations on information
system security for banking operations.
Article 2. Entities incurring administrative
penalties
1. This Decree applies to any organizations or
individuals that commit administrative violations in the monetary and banking
sector.
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a) Credit institutions and their affiliates
(including domestic branches, transaction offices, representative offices and
administrative units, overseas branches and representative offices, and their
wholly owned banks in foreign countries), FBBs, representative offices of
foreign credit institutions and other foreign organizations performing banking
operations;
b) Enterprises and their affiliates (including
branches and representative offices);
c) Co-operatives, cooperative unions, and their
affiliates (including branches and representative offices);
d) Other organizations duly established and
operating in Vietnam.
Article 2a. Repeated
administrative violations3
Any organization or individual that repeatedly
commits an administrative violation shall incur penalties for each violation,
except repeated administrative violations which are considered as aggravating
circumstances as prescribed in Article 5; Article 9; Article 10; Article 11;
Article 12; Article 13; Article 14; Article 14a; Article 15; Article 16;
Article 17; Article 18; Article 19; Article 20; Article 21; Article 22; Clauses
1, 3, 4, 5, 6, 7, 8 Article 23; Clauses 1, 3, 4, 5, 6, 7, 8 Article 24; Article
25; Article 26; Article 27; Article 28; Article 28a; Article 29; Article 30;
Article 31; Article 32; Article 33; Clause 1 Article 34; Article 35; Article
36; Article 37; Article 38; Article 39; Article 40; Article 41; Article 42;
Article 43; Article 44; Article 44a; Article 45; Article 45a; Article 46;
Article 47; Article 50; Article 51 of this Decree.
Article 2b. Time
of completion of administrative violations 4
Ending dates of some violations in Chapter II
hereof, which are used for determining the running of prescriptive periods of
such violations, shall be determined as follows:
1. Regarding administrative violations against
regulations on receipt of deposit, credit extension, offer and acceptance of
trusteeship, purchase of corporate bonds or interbank operations specified in
Point a Clause 2 Article 12; Point a Clause 3, Points a, b, dd, g Clause 5,
Point b Clause 6, Clause 8 Article 14; Point a Clause 1 Article 15; Clause 3,
Points a, d, dd Clause 4 Article 16; Clause 5, Clause 6 Article 17 of this
Decree, the ending date of the violation shall be the date on which relevant
parties complete their obligations under an agreement or contract involving
that violation.
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3. Regarding administrative violations against
regulations on registration, notification, following of administrative
procedures, submission and promulgation of internal regulations, rules and
plans specified in Article 7; Point b Clause 2 Article 8; Clause d, dd, e, g
Clause 3 Article 23; Point a Clause 2 Article 28; Point a, b, c Clause 3
Article 30; Point a Clause 1 Article 40 of this Decree, the ending date of the
violation shall be the date of registration, notification, following of
administrative procedures, submission, promulgation or modification of such
internal regulations, rules or plans.
4. Regarding administrative violations against
regulations on prudential ratios, classification of assets, off-balance-sheet
(OBS) items, creation and use of provisions for losses specified in Article 35;
Points a, b, c Clause 1 Article 36 of this Decree, the ending date of the
violation shall be the date on which regulations on prudential ratios,
classification of assets, off-balance-sheet (OBS) items, creation and use of
provisions for losses are strictly observed.
5. Regarding violations against regulations on
changes requiring written approval from SBV specified in Article 5 of this
Decree, the ending date of the violation shall be the date on which the written
approval is given by SBV.
Article 3. Penalties, fines, power to impose
penalties and remedial measures
1. Primary penalties:
a) Warnings;
b) Fines.
2. Additional penalties:
a) Suspension of licenses for a fixed period. To be
specific: the certificate of registration of currency exchange agent shall be
suspended for 01 – 03 months; the license for foreign currency receipt and
payment and other foreign currency transactions in the business of providing
prize-winning electronic games for foreigners and in the casino business shall
be suspended for 03 – 06 months; the license for an individual currency
exchange counter shall be suspended for 01 - 06 months; the license for gold bullion
trading shall be suspended for 06 – 09 months;
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c) Confiscation of the exhibits and
instrumentalities used for committing administrative violations5, confiscation of foreign currencies,
Vietnamese Dong and gold.
3. Fines and power to impose fines:
a) The maximum fine for an administrative violation
in the monetary and banking sector imposed on an organization is VND
2.000.000.000 and that imposed on an individual is VND 1.000.000.000;
b) The fine for every administrative violation
prescribed in Chapter II hereof is imposed on an individual. The fine imposed
on an organization is twice as much as the one imposed on an individual for
committing the same administrative violation;
c) The fine imposed for an administrative violation
committed by a person working at a people’s credit fund or a microfinance
institution shall be 10% of the corresponding fine prescribed in Chapter II
hereof; The fine imposed on the people’s credit fund or the microfinance
institution or their affiliate shall be twice as much as the fine imposed on
the person working there;
d) The fines imposed by each competent person
prescribed in Chapter III hereof are incurred by individuals. The fine that
such a competent person may impose upon an organization is twice as much as the
one he/she imposes upon an individual.
4. Remedial measures:
Depending on the nature and severity of each
administrative violation in the monetary and banking sector, the violating entity
may be liable to one or some of the following remedial measures as prescribed
in Chapter II hereof:
a) 6
Enforced transfer of profits illegally obtained from the administrative
violation to state budget; enforced return of fees improperly collected to
payers; enforced return of appropriated amounts to customers; enforced debt
recovery; enforced recovery of improperly used funds; enforced recovery of the
amount of credit extended in excess of the credit limit; enforced return of
erased or altered licenses;
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c) Enforced establishment of funds in accordance
with law regulations; enforced maintenance of prudential ratios within a
maximum period of 06 months; enforced classification of assets and creation of
provisions for losses; enforced reversal of the improperly used provision, and recording
of debts settled with provisions for losses on the balance sheet as prescribed;
enforced validation of internal regulations which are issued inconsistently
with law regulations; enforced compliance with law regulations on information
system security for banking operations; enforced maintenance of the fulfillment
of requirements to be issued with the certificate of eligibility to provide
credit information services;
d) Enforced return/recovery of trust assets for
trustors; enforced reimbursement of collected insurance premiums, and recovery
of delivered insurance payouts; enforced reversal of the sale of debts;
dd) Enforced correction of false information;
enforced submission of adequate and accurate reports; enforced full payment of
insurance premiums;
e) Enforced sealing and punching of counterfeit
money;
g) Enforced destruction of the exhibits and
instrumentalities used for committing administrative violations;
h) Enforced maintenance of prescribed ratios of the
value of fixed assets directly used to serve operations to sum of the charter
capital or assigned capital and the fund for charter capital increase or the
fund for assigned capital increase in accordance with regulations;
i) Enforced posting of the copy of certificate of
deposit insurance; enforced completion of procedures for approval for listing
of shares on a foreign securities market or suspension of the listing of shares
on a foreign securities market;
k) Prohibition of expansion of operating scope,
scale and regions until remedial measures against the violation have been
successfully implemented;
l) Suspension of division of dividends;
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n) 8
Proposed revocation of license, certificate of currency exchange agent, license
to open and use an offshore foreign-currency account, license for individual
currency exchange counter, or license for gold bullion trading, written
approval for provision of payment services without customers’ checking
accounts, licenses for provision of intermediary payment services; proposed
suspension, dismissal or prohibition of violating entities and/or persons
responsible for the violation from holding management and supervision positions
at credit institutions or FBBs; proposed dismissal and implementation of other
appropriate measures against violating entities under the competence of credit
institutions or FBBs;
o) Replacement or proposed dismissal of elected or
appointed persons who commit administrative violations.
p) 9
Enforced termination of operations of paying agents; enforced use of separate
checking accounts for operations of paying agents;
q) 10
Enforced implementation of regulations on identification, updating, and
verification of identification information of customers; enforced issuance of
internal regulations in accordance with the law; enforced implementation of
regulations of the law on correspondent banking relationship, transactions
related to new technologies, special supervision of some transactions, and
assessment of risks.
Article 3a. Implementation
of remedial measures11
The implementation of certain remedial measures
against violations in monetary and banking sector is subject to the following
provisions:
1. Regarding the remedial measure that is proposed
revocation of license, certificate of currency exchange agent, license to open
and use an offshore foreign-currency account, license for individual currency
exchange counter, license for gold bullion trading, written approval for
provision of payment services without customers’ checking accounts, licenses
for provision of intermediary payment services
Within 03 working days from the issue date of the
penalty imposition decision, the person issuing that decision shall send a
written request to a competent authority for application of this remedial
measure.
2. Regarding the remedial measure that is proposed
suspension, dismissal or prohibition of violating entities and/or persons
responsible for the violation from holding management and supervision positions
at credit institutions or FBBs
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3. Regarding the remedial measure that is enforced
return of erased or altered license: pursuant to the penalty imposition
decision, the violating entity shall return the erased or altered license to
the licensing authority.
Chapter II
ADMINISTRATIVE VIOLATIONS, PENALTIES AND FINES
Section 1. VIOLATIONS AGAINST REGULATIONS ON
MANAGEMENT AND USE OF LICENSES
Article 4. Violations against regulations on
licenses granted by SBV
1. A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for using documents containing an organization’s
name different from the one specified in its license during its operation.
2. A fine ranging from VND 40.000.000 to VND
50.000.000 shall be imposed for failure to meet conditions for inauguration
laid down in Clause 2 Article 26 of the Law on Credit Institutions.
3. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for committing one of the following violations:
a) Lending, leasing, trading or transferring the
license;
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4. A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for committing one of the following violations:
a) Falsifying12 documents proving the satisfaction of
eligibility requirements enclosed with the application for the license, if not
liable to criminal prosecution, except for the case prescribed in Clause 2
Article 18, Point a Clause 4 Article 27 hereof;
b) Conducting operations against the license,
except for the cases prescribed in Clause 6 Article 17, Point o Clause 4, Point
c Clause 8 Article 23, Point c Clause 5, Clause 6 Article 24, and Point c
Clause 4 Article 27 hereof.
5. A fine ranging from VND 300.000.000 to VND 400.000.000
shall be imposed for continuing operations after a competent authority has
issued a decision on restriction, suspension or termination of operations
according to Point c Clause 2 Article 59 of the Law on the State Bank of
Vietnam.
6. 13
A fine ranging from VND 400.000.000 to VND 500.000.000 shall be imposed for
committing one of the following violations:
a) Conducting operations without a license, except
for the cases prescribed in Point c Clause 8 Article 23, Clause 8 Article 24,
Clause 5 Article 27 hereof;
b) Committing violations against regulations on use
of terms relating to banking operations as prescribed in Article 5 of the Law
on Credit Institutions.
7. 14
(abrogated)
8. Remedial measures:
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b) Proposed revocation of the license if the
violation prescribed in Clause 4 or Clause 5 of this Article is committed;
c) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal or prohibition from
holding the management or supervision position at a credit institution or FBB
if the violation prescribed in Clause 3, 4, 5 or 6 of this Article is
committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
c) 15
Enforced return of the erased or altered license if the violation in Point b
Clause 3 of this Article is committed.
Article 5. Violations against regulations on
changes requiring written approval by SBV
1. 16
(abrogated)
2. A fine ranging from VND 50.000.000 to VND
100.000.000 shall be imposed for failure to obtain written approval from SBV
when:
a) changing name of a credit institution or FBB;
b) suspending business for 05 business days or
more, except for the business suspension due to force majeure events; or
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3. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for failure to obtain the written approval from
SBV when trading or transferring the stake of the owner or a
capital-contributing member, trading or transferring shares of a majority
shareholder, or carrying out the trading or transfer of shares which turns a
majority shareholder into a minority shareholder and vice versa.
4. A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for failure to obtain the written approval from
SBV when changing the charter capital or assigned capital.
5. A fine ranging from VND 200.000.000 to VND
250.000.000 shall be imposed for failure to obtain the written approval from
SBV when:
a) relocating the headquarters or branch of a
credit institution, or relocating the FBB;
b) listing shares on a foreign securities market;
c) 18
changing the governing branch of a transaction office of a credit institution;
d) 19
voluntarily shutting down a branch or transaction office of a credit
institution; or
dd) 20
performing banking operations.
6. A fine ranging from VND 250.000.000 to VND
300.000.000 shall be imposed for failure to obtain the written approval from
SBV when:
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b) making capital contribution, buying shares,
transferring or purchasing stakes of a credit institution according to Article
71, Point b Clause 4 Article 103 of the Law on Credit Institutions;
c) participating in the international payment
system;
d) carrying out the repurchase of shares resulting
in reduction of charter capital as prescribed in Article 57 of the Law on
Credit Institutions; or
dd) 21
providing non-cash payment services without customers’ checking accounts.
7. A fine ranging from VND 400.000.000 to VND
500.000.000 shall be imposed for failure to obtain the written approval from a
competent authority when carrying out full or partial division, consolidation,
merger or conversion of a credit institution or FBB.
8. Remedial measures:
a) Suspension of distribution of dividends until
the registered charter capital requirement is met if the violation prescribed
in Point d Clause 6 of this Article is committed;
b) Enforced divestment of the subsidiary or
associate company if the violation prescribed in Point a or b Clause 6 of this
Article is committed;
c) Enforced obtainment of an approval for listing
of shares on the foreign securities market within a maximum duration of 01 - 03
months or enforced suspension of such listing of shares on the foreign
securities market if the violation prescribed in Point b Clause 5 of this
Article is committed;
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Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Section 2. VIOLATIONS AGAINST REGULATIONS ON
ORGANIZATION AND MANAGEMENT
Article 6. Violations against regulations on
organization and management
1. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for committing one of the following violations:
a) committing violations against regulations on
Board of Directors, Board of Members or Board of Controllers as prescribed in
Article 43, Article 44, Article 62, Clause 1 Article 70, Article 81 and Article
84 of the Law on Credit Institutions;
b) failing to maintain the fulfillment of
eligibility requirements or standards by member of the Board of Directors, the
Board of Controllers, or General Director (or Director) in accordance with the
Law on Credit Institutions; or
c) failing to convene or convening General Meeting
of Shareholders or General Meeting of Members against regulations.
2. A fine ranging from VND 30.000.000 to VND
50.000.000 shall be imposed for electing or appointing persons who are not
allowed to concurrently hold more than one position as prescribed in Article 34
and Clause 3 Article 83 of the Law on Credit Institutions.
3. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for committing one of the following violations:
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b) electing or appointing unqualified persons to
hold the positions prescribed in Clause 5 Article 50 or Clause 2 Article 75 of
the Law on Credit Institutions.
4. A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for electing or appointing unqualified persons to
hold the positions prescribed in Clauses 1, 2, 3 and 4 Article 50 of the Law on
Credit Institutions.
5. A fine ranging from VND 200.000.000 to VND
250.000.000 shall be imposed for committing one of the following violations:
a) electing or appointing persons who are
prohibited from holding positions as prescribed in Clause 1 Article 33 of the
Law on Credit Institutions; or
b) electing or appointing persons whose names are
not specified in the list of planned personnel approved by SBV.
6. Remedial measures:
Replacement or proposed dismissal of elected or
appointed persons if the violation prescribed in Clause 2, 3, 4 or 5 of this
Article is committed.
Article 7. Violations against regulations on
promulgation of charter/internal regulations
1. A fine ranging from VND 10.000.000 to VND
20.000.000 shall be imposed for committing one of the following violations:
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b) failing to submit the charter or amended charter
of the credit institution to SBV as prescribed in Clause 3 Article 31 of the
Law on Credit Institutions;
c) failing to promulgate sufficient internal rules
in accordance with law regulations.
2. A fine ranging from VND 40.000.000 to VND
80.000.000 shall be imposed for committing one of the following violations:
a) failing to promulgate one or some of internal
rules as prescribed by law;
b) promulgating internal rules inconsistently with
law regulations.
3. Remedial measures:
Enforced invalidation of internal rules that are
not consistent with law regulations if the violation prescribed in Point b
Clause 2 of this Article.
Article 8. Violations against regulations on
internal control system and independent audit
1. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for failing to submit reports on internal or
independent audit results or reports on internal control system as prescribed
by law.
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a) failing to select independent audit organization
as prescribed in Clause 1 Article 42 of the Law on Credit Institutions;
b) failing to notify the SBV of the selected
independent audit organization within 30 days as prescribed in Clause 2 Article
42 of the Law on Credit Institutions.
3. A fine ranging from VND 80.000.000 to VND
100.000.000 shall be imposed for committing one of the following violations:
a) The internal audit department fails to fulfill
its duties defined in Clause 2 Article 41 of the Law on Credit Institutions and
relevant laws;
b) Failing to carry out the independent audit as
prescribed in Clause 1 Article 42 of the Law on Credit Institutions and
relevant laws or failing to re-carry out the independent audit in case the
audit report contains qualified opinions given by the independent audit
organization as prescribed in Clause 3 Article 42 of the Law on Credit
Institutions and relevant laws;
c) Failing to carry out senior management
oversight, internal control, risk management and internal capital adequacy
assessment as prescribed by law.
4. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for failing to establish an internal audit
department affiliated to the Board of Controllers.
5. A fine ranging from VND 200.000.000 to VND 250.000.000
shall be imposed for failing to build an internal control system as prescribed
in Clause 1 and Clause 2 Article 40 of the Law on Credit Institutions.
Section 3. VIOLATIONS AGAINST REGULATIONS ON
SHARES, SHARE CERTIFICATES AND STAKES
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1. A fine ranging from VND 50.000.000 to VND
100.000.000 shall be imposed for committing one of the following violations:
a) failing to issue physical share certificates
within 30 days from the date of inauguration of a new credit institution or
within 30 days from the date on which the shareholder makes full payment for
subscribed shares in case a credit institution increases its charter capital;
b) failing to meet the requirement on the
percentage and duration for holding shares by founding shareholders as
prescribed in Clause 5 Article 55 of the Law on Credit Institutions;
c) committing violations against law regulations on
limit on capital contribution, capital contribution percentage, transfer and
return of stakes to capital-contributing members.
2. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for committing one of the following violations:
a) owning shares in excess of the limits prescribed
in Clauses 1, 2 and 3 Article 55 of the Law on Credit Institutions;
b) carrying out the repurchase of shares from
shareholders resulting in failure to achieve the prudential ratios for banks as
prescribed in Clause 1 Article 130 of the Law on Credit Institutions;
c) transferring shares inconsistently with Clause 4
Article 56 of the Law on Credit Institutions.
3. Remedial measures:
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b) Enforced maintenance of prudential ratios within
a maximum duration of 06 months if the violation prescribed in Point b Clause 2
of this Article is committed;
c) Suspension of distribution of dividends until
remedial measures against the violation are completed if the violation
prescribed in Clause 2 of this Article is committed;
d) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal or prohibition from
holding the management or supervision position at a credit institution or FBB
if the violation prescribed in Clause 2 of this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB;
dd) Enforced transfer of shares in accordance with
regulations of law if the violation prescribed in Point c Clause 2 of this
Article is committed.
Article 10. Violations against regulations on
capital contribution and purchase of shares
1. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for making capital contribution or purchasing
shares with funds other than the charter capital and reserve fund, which is
inconsistent with Clause 1 Article 103 and Clause 1 Article 110 of the Law on
Credit Institutions.
2. A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for failing to establish or acquire a subsidiary
or associate company when conducting business operations prescribed in Clause 2
Article 103 of the Law on Credit Institutions.
3. 22A
fine ranging from VND 200.000.000 to VND 250.000.000 shall be imposed for
committing one of the following violations:
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b) making capital contribution, buying or receiving
transfer of shares from a credit institution against provisions of Point c
Clause 1 Article 54 of the Law on Credit Institutions;
4. A fine ranging from VND 250.000.000 to VND
300.000.000 shall be imposed for committing one of the following violations:
a) committing violations against regulations on
limits on capital contribution and share purchase in Article 129 of the Law on
Credit Institutions;
b) committing violations against regulations on
limits on capital contribution and share purchase in Article 135 of the Law on
Credit Institutions.
5. Remedial measures:
a) Enforced recovery of improperly used funds if
the violation prescribed in Clause 1 of this Article is committed;
b) Enforced transfer of stakes or shares acquired
inconsistently with law regulations if the violation prescribed in Clause 4 of
this Article is committed;
c) Suspension of division of dividends until
remedial measures against the violation are completed if any of the violations
prescribed in this Article is committed;
d) Enforced transfer of benefits illegally obtained
from the administrative violation prescribed in Clause 1, 2 or 3 of this
Article to state budget;
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e) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal or prohibition from
holding the management or supervision position at a credit institution or FBB
if the violation prescribed in Clause 1, 2, 3 or 4 of this Article is
committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 11. Violations against regulations on
offering and transfer of shares
1. A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for transferring shares while holding a position
as prescribed in Clause 1 Article 56 of the Law on Credit Institutions.
2. A fine ranging from VND 250.000.000 to VND
300.000.000 shall be imposed for transferring shares while implementing
remedial measures according to a resolution of the General Meeting of
Shareholders or SBV's decision due to personal responsibility of a member of
Board of Directors or Board of Controllers, or General Director (Director),
except the cases prescribed in Points a, b and c Clause 2 Article 56 of the Law
on Credit Institutions.
3. Remedial measures:
a) Enforced retrieval of shares transferred as
prescribed in this Article within a maximum duration of 06 months from the
effective date of the decision on administrative penalty imposition;
b) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal or prohibition from
holding the management or supervision position at a credit institution or FBB
if any of the violations prescribed in this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
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Article 12. Violations against regulations on
taking of deposits
1. A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for committing one of the following violations:
a) failing to publish or post information about
taking of deposits and issuance of financial instruments, which must be
published or posted as prescribed by law;
b) taking deposits or issuing financial instruments
against openly published or posted information;
c) failing to follow procedures for taking and
paying out deposits.
2. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for committing one of the following violations:
a) taking deposits from or issuing financial
instruments to entities that do not meet relevant eligibility requirements set
by law;
b) taking deposits or issuing financial instruments
against law regulations, except for the cases prescribed in Clause 1, Point a
Clause 2 of this Article.
Article 13. Violations against regulations on
deposit interest rates, service charges, trading and provision of derivatives
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a) failing to openly post deposit interest rates
and/or service charges as prescribed;
b) posting deposit interest rates and/or service
charges which are unclear and mislead customers;
c) collecting service charges against law
regulations, except for the cases prescribed in Point a Clause 4 Article 14,
Point m Clause 4 Article 23 hereof.
2. A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for applying deposit interest rates and/or service
charges higher than the posted ones.
3. A fine ranging from VND 50.000.000 to VND
100.000.000 shall be imposed for committing any violations against regulations
on deposit interest rates or regulations on trading and provision of
interest-rate derivatives, currency derivatives, commodity derivatives and
other derivatives, except for the cases prescribed in Clause 1 or Clause 2 of
this Article and Point a Clause 8 Article 23 hereof.
4. Remedial measures:
a) Enforced transfer of benefits illegally obtained
from the violation relating to service charges as prescribed in this Article to
state budget;
b) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal from the management
or supervision position, or prohibition from holding the management or
supervision position at a credit institution or FBB if the violation prescribed
in Clause 3 of this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
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Article 14. Violations against regulations on
credit extension
1. A fine ranging from VND 10.000.000 to VND
15.000.000 shall be imposed for committing one of the following violations:
a) failing to comply with regulations on retention
of credit extension-related documents;
b) failing to issue guarantee commitments according
to the form designed by the credit institution or FBB; or
c) failing to publish or provide adequate
information and documents to customers as prescribed by law.
d) 23
receiving and settling complaints of customers against regulations of law on
grant of consumer loans by finance companies;
dd) 24
failing to provide professional training for employees in accordance with
regulations of law on grant of consumer loans by finance companies;
e) 25
failing to ensure maximum rates of consumer loans according to regulations of
law on grant of consumer loans by finance companies;
g) 26
failing to issue a bracket of interest rates on consumer loans for each period
or issuing such a bracket without sufficient contents according to regulations
of law on grant of consumer loans by finance companies.
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a) failing to inspect the use of borrowed capital
and debt repayment by customs in accordance with regulations of law;
b) failing to comply with regulations on measures
to expedite and recover debts laid down in law on grant of consumer loans by
finance companies.
3. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for committing one of the following violations:
a) making a credit extension agreement or contract
which does not have adequate contents required by law;
b) 28
granting exemption or reduction of interest rates on credit extensions before
promulgating internal regulations;
c) approving debt rescheduling or delinquency
against law regulations;
d) imposing interests on extensions of credit
against law regulations;
dd) collecting interests on delinquent debts
against law regulations; or
e) collecting overdue loan debts against law
regulations.
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a) collecting extension of credit-related fees
against law regulations; or
b) employing disbursement methods against law
regulations, except for the case prescribed in Point g Clause 4 Article 23
hereof.
5. A fine ranging from VND 40.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) extending credit without entering into a written
agreement or contract;
b) extending credits to entities ineligible for
credit extension as prescribed by law;
c) extending credits without guarantee or extending
credits with preferential conditions to entities prescribed in Clause 1 Article
127 of the Law on Credit Institutions;
d) committing any violations against regulations on
credit extension in Clause 3 Article 127 of the Law on Credit Institutions;
dd) granting loans to meet loan demands which must
be rejected as prescribed by law;
e) signing agreements or commitments on issuance of
guarantee beyond the power prescribed by law; or
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6. A fine ranging from VND 80.000.000 to VND
120.000.000 shall be imposed for committing one of the following violations:
a) committing violations against regulations on
limits of credit in Clauses 2, 4 Article 127, Clauses 1, 2 and 8 Article 128 of
the Law on Credit Institutions;
b) extending credits in other forms without obtaining
the written approval from SBV; or
c) committing violations against regulations on
maximum loan amounts granted by credit institutions for outward investment.
7. A fine ranging from VND 120.000.000 to VND
180.000.000 shall be imposed for committing violations against limits on and
conditions for extension of credits for investment or trading in shares or
corporate bonds by credit institutions and FBBs.
8. A fine ranging from VND 250.000.000 to VND
300.000.000 shall be imposed for extending credits to the entities prescribed
in Clauses 1, 3, 4, 5 and 6 Article 126 of the Law on Credit Institutions.
9. Remedial measures:
a) Enforced recovery of the amounts of credit
extended beyond the prescribed limits within a maximum duration of 06 months
from the effective date of the decision on administrative penalty imposition if
the violation prescribed in Point a Clause 6, Clause 7 of this Article is
committed;
b) Enforced recovery of debts within a maximum
duration of 06 months from the effective date of the decision on administrative
penalty imposition if the violation prescribed in Points b, dd Clause 5, Point
b Clause 6, Clause 8 of this Article is committed;
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d) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal or prohibition from
holding the management or supervision position at a credit institution or FBB
if any of the violations prescribed in Clause 5, Point a Clause 6, Clause 7 and
Clause 8 of this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 14a. Violations
against regulations on service introduction points 29
A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for committing one of the following violations:
1. Failing to enter into contracts for
establishment of service introduction points.
2. Entering into a contract for establishment of a
service introduction point which does not clearly state responsibilities and
rights of contractual parties and the validity period of the contract.
3. Performing operations other than those permitted
by laws at service introduction points.
Article 15. Violations against regulations on
offer and acceptance of trusteeship
1. A fine ranging from VND 80.000.000 to VND
100.000.000 shall be imposed for committing one of the following violations:
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b) entering into trust agreements which are made
inconsistently with law regulations.
2. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for failing to comply with trust principles when
offering or accepting trusteeship.
3. Additional penalties:
Trust operations of the violating credit
institution or FBB shall be suspended for 01 – 03 months if the violation
prescribed in this Article is committed.
4. Remedial measures:
a) Enforced return/recovery of trust assets for
trustors if the violation prescribed in this Article is committed;
b) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal or prohibition from
holding the management or supervision position at a credit institution or FBB
if any of the violations prescribed in this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 16. Violations against regulations on
purchase of corporate bonds
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2. A fine ranging from VND 30.000.000 to VND
40.000.000 shall be imposed for making a corporate bond purchase agreement
which does not contain sufficient information as required by law.
3. A fine ranging from VND 40.000.000 to VND
50.000.000 shall be imposed for purchasing corporate bonds without entering
into a bond purchase agreement as prescribed.
4. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for committing one of the following violations:
a) failing to meet requirements laid down in laws
when conducting appraisal of the plan and fulfillment of conditions for bond
issuance by the enterprise;
b) failing to conduct appraisal of the plan and
fulfillment of conditions for bond issuance by the enterprise;
c) committing violations against regulations on
purchase of convertible corporate bonds;
d) purchasing bonds issued by an enterprise for the
purpose of restructuring its debts.
dd) 30
purchase of convertible bonds by a FBB.
5. Remedial measures:
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b) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal or prohibition from
holding the management or supervision position at a credit institution or FBB
if the violation prescribed in Clause 4 of this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 17. Violations against regulations on
interbank operations
1. A fine ranging from VND 10.000.000 to VND
20.000.000 shall be imposed for committing one of the following violations:
a) updating and keeping information relating to
lending/borrowing transactions, and buying/selling forward of financial
instruments against law regulations;
b) failing to confirm transactions as prescribed;
c) failing to follow the prescribed format/contents
of lending agreements or agreements for repurchase of financial instruments.
d) 31
buying/selling financial instruments in currencies which are inconsistent with
law regulations.
2. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for committing one of the following violations:
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b) failing to make payment for lending/borrowing
transactions; making/taking of deposits; buying/selling forward of financial
instruments in VND via the interbank electronic payment system as prescribed by
law;
c) failing to comply with procedures for
buying/selling of financial instruments as prescribed;
d) lending, borrowing, making or taking deposits
beyond the authorized scope.
dd) 32
purchasing promissory notes, treasury bills or deposit certificates whose
remaining term to maturity is not conformable with regulations of law.
3. A fine ranging from VND 30.000.000 to VND
40.000.000 shall be imposed for conducting lending/borrowing transactions
outside the office of a FBB in Vietnam.
4. A fine ranging from VND 40.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) failing to comply with general rules for
conducting lending/borrowing transactions; buying/selling forward of financial
instruments between credit institutions/FBBs; making deposits at other credit
institutions inconsistently with law regulations;
b) failing to carry out re-assessment of customers
for re-determining credit limit for each customer as prescribed by law;
c) failing to comply with regulations on provision
of information for borrowers to serve their re-assessment of customers and
determination of transaction limits.
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a) carrying out buying/selling forward of financial
instruments which are banned from trading;
b) buying/selling financial instruments which are
issued by finance companies or finance lease companies against regulations of
law.
6. A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for lending, borrowing or trading foreign-currency
financial instruments beyond the scope of foreign exchange operations licensed
by SBV.
7. Remedial measures:
Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal or prohibition from
holding the management or supervision position at a credit institution or FBB
if the violation prescribed in Clause 5 or Clause 6 of this Article is
committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Section 6. VIOLATIONS AGAINST REGULATIONS ON
PROVISION OF CREDIT INFORMATION SERVICES
Article 18. Violations against principles and
conditions for provision of credit information services
1. A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for committing one of the following violations:
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b) entering into agreements or commitments on
provision of credit information services in the form other than the one
prescribed by law; or
c) failing to publish information as prescribed by
law.
2. A fine ranging from VND 40.000.000 to VND
60.000.000 shall be imposed for falsifying 34 documentary evidences of eligibility
enclosed with the application for Certificate of eligibility to provide credit
information services, if not liable to criminal prosecution.
3. A fine ranging from VND 200.000.000 to VND
250.000.000 shall be imposed for providing credit information services without
obtaining a Certificate of eligibility to provide credit information services
from SBV.
4. Remedial measures:
a) Enforced transfer of benefits illegally obtained
from the administrative violation prescribed in Clause 2 or 3 of this Article
to state budget;
b) Proposed revocation of Certificate of
eligibility to provide credit information services if the violation prescribed
in Clause 2 or 3 of this Article is committed;
c) Enforced maintenance of the fulfillment of
eligibility requirements for Certificate of eligibility to provide credit
information services if the violation prescribed in Point a Clause 1 of this
Article is committed.
Article 19. Violations against regulations on
credit information collection and processing
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a) collecting credit information beyond the
authorized scope as prescribed by law;
b) collecting credit information on borrowers
without their consent, unless such credit information is collected at the
request of a competent authority;
c) using negative information on borrowers to
create credit information products against law regulations;
d) obstructing the lawful collection of credit
information.
2. A fine ranging from VND 40.000.000 to VND
80.000.000 shall be imposed for deliberately falsifying credit information.
3. A fine ranging from VND 80.000.000 to VND
100.000.000 shall be imposed for illegally collecting information classified as
state secrets.
4. Additional penalties:
a) The instrumentalities for committing the
violation prescribed in Clause 3 of this Article shall be confiscated;
b) The provision of credit information services
shall be suspended for 01 – 03 months if the violation prescribed in Clause 2
or 3 of this Article is committed.
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Enforced correction of false information if the
violation prescribed in Clause 2 of this Article is committed.
Article 20. Violations against regulations on
credit information security and retention
A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for committing one of the following violations:
1. Failing to comply with regulations on or
procedures for information confidentiality and information technology security
when providing credit information services;
2. Failing to retain credit information on
borrowers for at least 05 years from the date on which the provider of credit
information services receives such information;
3. Failing to carry out annual review and
assessment of the conformity and compliance of internal rules with law
regulations.
Article 21. Violations against regulations on
use of credit information products/services and sharing/provision of credit
information
1. A fine ranging from VND 10.000.000 to VND
20.000.000 shall be imposed for committing one of the following violations:
a) providing or duplicating and providing credit
information products for a third party inconsistently with law;
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2. A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for committing one of the following violations:
a) modifying/changing credit information products
and providing them for a third party inconsistently with law;
b) providing or sharing credit information or
providing credit information products without the borrower’s written consent or
inconsistently with law regulations;
c) obstructing the lawful use of credit
information;
d) failing to openly post the prices of credit
information products as prescribed by law.
3. Additional penalties:
The provision of credit information services shall
be suspended for 01 – 03 months if the violation prescribed in Clause 2 of this
Article is committed.
4. Remedial measures:
Enforced transfer of benefits illegally obtained
from the administrative violation prescribed in Point a Clause 1 or Clause 2 of
this Article to state budget.
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A fine ranging from VND 10.000.000 to VND
15.000.000 shall be imposed for committing one of the following violations:
1. Failing to give written response to a request
for correction of false information or failing to notify information correction
results as prescribed by law;
2. Failing to make correction or cooperate in
correcting false information on borrowers as prescribed by law.
Section 7. VIOLATIONS AGAINST REGULATIONS ON
FOREIGN EXCHANGE OPERATIONS AND GOLD TRADING
Article 23. Violations against regulations on
foreign exchange operations
1. A warning shall be issued for committing one of
the following violations:
a) selling/buying foreign currency between
individuals if the value of foreign currency sold or bought is less than USD
1.000 (or equivalent value in another foreign currency);
b) selling or buying foreign currency at unlicensed
currency exchange entities if the value of foreign currency sold or bought is
less than USD 1.000 (or equivalent value in another foreign currency);
c) failing to comply with law regulations when
making payment for goods or services in foreign currency with total payment of
less than USD 1.000 (or equivalent value in another foreign currency).
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a) selling/buying foreign currency between
individuals if the value of foreign currency sold or bought is from USD 1.000
to under USD 10.000 (or equivalent value in another foreign currency);
selling/buying foreign currency between individuals if the value of foreign
currency sold or bought is less than USD 1.000 to (or equivalent value in
another foreign currency) in case of recommitted or repeated violation;
b) selling/buying foreign currency at an unlicensed
currency exchange entity if the value of foreign currency sold or bought is
from USD 1.000 to under USD 10.000 (or equivalent value in another foreign
currency); selling/buying foreign currency at an unlicensed currency exchange
entity if the value of foreign currency sold or bought is less than USD 1.000
to (or equivalent value in another foreign currency) in case of recommitted or
repeated violation;
c) failing to comply with law regulations when
making payment for goods or services in foreign currency with total payment of
less than USD 1.000 (or equivalent value in another foreign currency) in case
of recommitted or repeated violation; failing to comply with law regulations
when making payment for goods or services in foreign currency with total
payment of from USD 1.000 to under USD 10.000 (or equivalent value in another
foreign currency).
3. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for committing one of the following violations:
a) failing to post buying/selling rates at
transaction offices as prescribed by law;
b) posting buying/selling rates in an unclear
manner which causes misleading to customers;
c) failing to openly post or publish the exchange
rate between VND or foreign currency and token used in prize-winning electronic
games for foreigners or casino business; posting or publishing the exchange
rate between token and VND or foreign currency used in prize-winning electronic
games for foreigners or casino business against law regulations;
d) failing to comply with law regulations on
registration and notification of the relevant provincial branch of SBV in case
of changes relating to a currency exchange agent;
dd) failing to comply with law regulations on
notification and application for SBV’s approval for modification or termination
of contract for provision of foreign currency receipt and payment services;
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g) failing to comply with law regulations on
administrative procedures for pre-investment transfer of foreign currency
abroad; registration or registration of changes in foreign loans or
international bond issues; registration or registration of changes in offshore
loans and collection of guaranteed debts for non-residents; registration or
registration of changes in foreign exchange transactions in respect of outward
investment; registration of program for issuance of bonus shares abroad;
registration of proprietary trading limit; registration of temporary
proprietary trading limit; registration of trust limit; registration of
temporary trust limit and other administrative procedures for other funding
transactions; administrative procedures for other cases of outward portfolio
investment;
h) selling and buying foreign currency between
individuals if the value of foreign currency sold or bought is from USD 10.000
to under USD 100.000 (or equivalent value in another foreign currency);
i) selling or buying foreign currency at an
unlicensed currency exchange entity if the value of foreign currency sold or
bought is from USD 10.000 to under USD 100.000 (or equivalent value in another
foreign currency);
k) failing to comply with law regulations when
making payment for goods or services in foreign currency with total payment of
from USD 10.000 to under USD 100.000 (or equivalent value in another foreign
currency);
l) failing to comply with buying/selling rates
announced by SBV, except for the cases prescribed in Point dd and Point m
Clause 4 of this Article; collecting foreign currency transaction fees against
law regulations.
4. A fine ranging from VND 30.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) entering into a currency exchange agent contract
with an ineligible entity; failing to provide instructions for or inspect the
currency exchange agent as prescribed by law;
b) failing to fulfill responsibilities of a
currency exchange agent as prescribed by law; concurrently acting as a currency
exchange agent for two or more credit institutions;
c) making payment for negotiable instruments in
foreign currency against regulations on foreign exchange operations in Article
9 of the Law on negotiable instruments and relevant laws;
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dd) making the actual buying, selling or exchange
rate exceed the prescribed exchange rate margin by means of setting exchange
rates, commissions or brokerage fees in cash or in kinds and other promotions
for buying/selling foreign currency in any forms;
e) concurrently acting as a foreign currency paying
agent for two or more business entities inconsistently with law regulations;
g) 35
carrying out fund withdrawal or repayment of foreign debts; carrying out
reimbursement or recovery of offshore loans; recovering guaranteed debts for
non-residents; carrying out transfer of funds serving foreign investments in
Vietnam or Vietnam’s outward investments against law regulations, unless this
violation is a result of the commission of the violation in Point d Clause 4 of
this Article;
h) transferring or carrying foreign currency or VND
abroad or into Vietnam against law regulations, except for administrative
violations in customs sector;
i) authorizing or re-authorizing a business entity
or credit institution to act as a foreign currency paying agent against law
regulations;
k) failing to comply with law regulations on
opening, closing and use of foreign currency accounts dedicated to foreign
currency receipt and payment services;
l) failing to fulfill the responsibility of the
credit institution or the business entity acting as a foreign currency paying
agent, or the business entity directly receiving and making payments in foreign
currency, to make updates to accounting records and archive documents in accordance
with law regulations;
m) failing to comply with law regulations on
service charges or exchange rates applied when providing foreign currency
receipt and payment services;
n) carrying out transaction, quotation or
determination of contract prices, or posting or publishing prices of goods,
services or land use rights, or performing other similar acts (including
converting or adjusting prices of goods or services or contract prices) in
foreign currency inconsistently with law regulations;
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5. A fine ranging from VND 80.000.000 to VND
100.000.000 shall be imposed for committing one of the following violations:
a) opening, closing or using an offshore
foreign-currency account against law regulations;
b) providing payment or money transfer transactions
relating to foreign loans, offshore loans, offshore debt recovery, recovery of
guaranteed debts for non-residents, foreign investments in Vietnam, Vietnam’s
outward investments and other funding transactions against law regulations;
c) failing to comply with law regulations on
exchange of tokens by providers of prize-winning electronic games for
foreigners or casino enterprises;
d) failing to comply with law regulations on
opening, closing and using of foreign currency accounts dedicated to
prize-winning electronic games for foreigners and casino business;
dd) failing to transfer the foreign currency
amounts exceeding the prescribed limit of foreign currency cash on hand into
the foreign currency account opened at a licensed bank in case the revenue in
foreign currency cash earned from the provision of prize-winning electronic
games for foreigners or casino business exceeds the limit of foreign currency
cash on hand prescribed by law;
e) selling and buying foreign currency between
individuals if the value of foreign currency sold or bought is equal to or
greater than USD 100.000 (or equivalent value in another foreign currency);
g) selling or buying foreign currency at an unlicensed
currency exchange entity if the value of foreign currency sold or bought is
equal to or greater than USD 100.000 (or equivalent value in another foreign
currency);
h) failing to comply with law regulations when
making payment for goods or services in foreign currency with total payment of
USD 100.000 or greater (or equivalent value in another foreign currency).
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6. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for committing one of the following violations:
a) extending credit or making domestic debt
repayments in foreign currency against law regulations, except for the cases
prescribed in Article 14 hereof;
b) failing to sell earned foreign currency to
credit institutions as prescribed by law, except for the case prescribed in
Point b Clause 5 of this Article.
c) 37
opening, closing or using an offshore foreign-currency account against law
regulations in case of a recommitted violation.
7. A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for committing one of the following violations:
a) failing to comply with law regulations on
foreign borrowing and foreign debt repayment; offshore lending and offshore
debt recovery; recovery of guaranteed debts for non-residents and other funding
transactions, except for the cases prescribed in Point g Clause 3, Points d, g
Clause 4 and Point b Clause 5 of this Article;
b) failing to comply with SBV’s regulations when
carrying out foreign currency transactions between credit institutions, or
between credit institutions and their customers, except for the case prescribed
in Point a Clause 8 of this Article;
c) failing to maintain foreign currency positions
as prescribed by law.
8. A fine ranging from VND 200.000.000 to VND
250.000.000 shall be imposed for committing one of the following violations:
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b) exporting or importing foreign currency or VND
cash against law regulations;
c) carrying out foreign exchange operations without
a license granted by a competent authority, or with an expired or after the
license is revoked, or against the license, except for the cases prescribed in
Points d, o Clause 4, Points a, d Clause 5 of this Article.
9. Additional penalties:
a) Foreign currency or VND cash shall be
confiscated if any of the violations prescribed in Clause 2, Points h, i, k
Clause 3, Point h Clause 4, Points e, g, h Clause 5, Point b Clause 6 of this
Article is committed;
b) The certificate of currency exchange agent shall
be suspended for 01 - 03 months if the violation prescribed in Point b Clause 4
of this Article is committed;
c) The license for foreign currency receipt and
payment and other foreign currency transactions relating to the provision of
prize-winning electronic games for foreigners or casino business shall be
suspended for 03 – 06 months if the violation prescribed in Point d or Point dd
Clause 4 of this Article is committed (failure to apply for modification of the
license);
d) The license for an individual currency exchange
agent shall be suspended for 01 - 06 months if the violation prescribed in
Point o Clause 4 of this Article is committed;
dd) Foreign exchange operations of the credit institution
or FBB that commits the violation prescribed in Point c Clause 8 of this
Article shall be suspended for 03 – 06 months.
10. 38
Remedial measures:
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Article 24. Violations against regulations on
gold trading
1. A warning shall be issued for committing one of
the following violations:
a) trading gold bullion with a credit institution
or enterprise that does not hold a valid license for gold bullion trading;
b) using gold as a method of payment.
2. A fine ranging from VND 10.000.000 to VND
20.000.000 shall be imposed for committing one of the following violations:
a) trading gold bullion with a credit institution
or enterprise that does not hold a valid license for gold bullion trading in
case of a recommitted or repeated violation;
b) using gold as a method of payment in case of a
recommitted or repeated violation.
3. A fine ranging from VND 30.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) failing to post gold bullion buying and selling
prices at transaction offices as prescribed by law;
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4. A fine ranging from VND 80.000.000 to VND
100.000.000 shall be imposed for committing one of the following violations:
a) trading in gold bullion against law regulations,
except for the case prescribed in Point a Clause 8 of this Article;
b) carrying gold when exiting or entering Vietnam
against law regulations, except for administrative violations in customs
sector.
5. A fine ranging from VND 140.000.000 to VND
180.000.000 shall be imposed for committing one of the following violations:
a) trading gold bullion through authorized agents;
b) failing to comply with law regulations on gold
positions;
c) importing or exporting gold jewelry or
goldsmiths’ wares; gold materials in the form of powder, solution, solder or
salt, and semi-finished gold jewelry products which are different from
registered business lines as prescribed by law.
6. 39
A fine ranging from VND 200.000.000 to VND 250.000.000 shall be imposed for
committing one of the following violations:
a) using imported gold materials against the
license to import gold materials for production of gold jewelry and goldsmiths’
wares;
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7. A fine ranging from VND 250.000.000 to VND
300.000.000 shall be imposed for producing gold bullion against law
regulations.
8. A fine ranging from VND 300.000.000 to VND
400.000.000 shall be imposed for committing one of the following violations:
a) trading gold bullion without obtaining a license
for gold bullion trading as prescribed;
b) importing or exporting gold materials without
obtaining a license from a competent authority as prescribed by law;
c) carrying out other gold trading transactions
without obtaining license from a competent authority as prescribed by law.
9. Additional penalties:
a) Gold shall be confiscated if the violation
prescribed in Point a or c Clause 8 of this Article is committed;
b) The license for gold bullion trading shall be
suspended for 06 - 09 months if the violation prescribed in Point a Clause 5 of
this Article is committed.
10. 40Remedial
measures:
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Section 8. VIOLATIONS AGAINST REGULATIONS ON
PAYMENT, CASH AND VAULT MANAGEMENT
Article 25. Violations against regulations on
interbank payment
1. A fine ranging from VND 10.000.000 to VND
20.000.000 shall be imposed for committing one of the following violations:
a) failing to comply with regulations on
organization of clearing houses, clearing payments, and interbank payments;
b) failing to return false payment documents within
the business day, except for force majeure events;
c) transferring money to beneficiaries’ accounts
after prescribed time-limits;
d) failing to provide deposit-related documents
within the prescribed time limit.
2. A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for committing one of the following violations:
a) failing to immediately return the Credit order
when it is legally rejected; rejecting a Debit order with lawful authorization;
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3. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for committing one of the following violations:
a) obstructing the operation of a clearing house or
interbank payment system;
b) deliberately or accidentally revealing any
confidential information relating to the interbank payment system.
Article 26. Violations against regulations on
payments
1. A fine ranging from VND 3.000.000 to VND
5.000.000 shall be imposed for making erasures or alterations on payment
instruments or payment documents against law regulations, if not liable to
criminal prosecution.
2. A fine ranging from VND 5.000.000 to VND
10.000.000 shall be imposed for committing one of the following violations:
a) receiving and processing customers’ requests for
information check or complaints against law regulations;
b) 41
providing untruthful information concerning the use of payment services.
3. A fine ranging from VND 10.000.000 to VND
15.000.000 shall be imposed for committing one of the following violations:
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b) committing any violations against regulations on
announcement or posting of schedules of payment service charges and card
service charges.
4. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for committing one of the following violations:
b) 42
providing untruthful information concerning the provision of payment services;
b) signing payment orders ultra vires or using
electronic signatures of others;
c) opening, using or granting authorization to use
checking accounts against law regulations during the use of payment services.
5. 43
A fine ranging from VND 40.000.000 to VND 50.000.000 shall be imposed for
committing one of the following violations:
a) renting, hiring, borrowing or lending, or
trading information on, from 01 to under 10 checking accounts, if not liable to
criminal prosecution;
b) forging payment documents when rendering or
using payment services, if not liable to criminal prosecution.
6. 44
A fine ranging from VND 50.000.000 to VND 100.000.000 shall be imposed for
committing one of the following violations:
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b) renting, hiring, borrowing or lending, or
trading information on, 10 checking accounts or more, if not liable to criminal
prosecution;
c) forging payment instruments or keeping,
distributing, transferring or using forged payment instruments, if not liable
to criminal prosecution;
d) issuing, providing or using illegal payment
instruments, if not liable to criminal prosecution;
dd) Operating against SBV’s approval for provision
of payment services without customers’ checking accounts.
7. 45
A fine ranging from VND 100.000.000 to VND 150.000.000 shall be imposed for
committing one of the following violations:
a) infiltrating or attempting to infiltrate or
steal data, destroying or making illegal changes to software programs or
database used in payment system; taking advantage of computer network errors
for profiteering purposes, if not liable to criminal prosecution;
b) opening or maintaining anonymous or
impersonation checking accounts;
c) performing, organizing or facilitating the
performance of the following acts: using or taking advantage of checking
accounts, payment instruments or payment services to gamble, organize gambling,
rig, and conduct illegal business or other illegal acts;
d) stealing or colluding to steal information on
checking accounts, if not liable to criminal prosecution.
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a) committing violations against regulations on
cash payment;
b) provision of payment services by an entity which
is not a licensed payment service provider.
9. Additional penalties:
The exhibits and instrumentalities used for
committing the administrative violation prescribed in Clause 1, or Point b
Clause 5 or Point c or d Clause 6 of this Article shall be confiscated.
10. 47
Remedial measures:
a) Enforced transfer of benefits illegally obtained
from any of the administrative violations prescribed in Clauses 1, 4, 5, 6, 7
and 8 of this Article to state budget;
b) Prohibition of expansion of operating scope,
scale and regions until remedial measures against the violation are completed
if any of the violations prescribed in Points a, c, d Clause 6, Point c Clause
7 and Point a Clause 8 of this Article is committed;
c) Proposed revocation of approval for provision of
payment services without customers’ checking accounts if the violation in Point
dd Clause 6 of this Article is committed.
Article 27. Violations against regulations on
intermediary payment services
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a) 48
providing untruthful information concerning the provision or use of
intermediary payment services;
b) receiving and processing customers’ requests for
information check or complaints against law regulations;
c) committing violations against regulations on
tools serving SBV’s oversight of e-wallet services.
2. 49
A fine ranging from VND 15.000.000 to VND 20.000.000 shall be imposed for
committing one of the following violations:
a) extending credits to e-wallet users, adding
interests to an e-wallet balance or performing any acts to increase the balance
on an e-wallet compared to the amount of money deposited to e-wallet by the
customer;
b) committing violations against regulations on
deposit or withdrawal of money into or from e-wallet accounts.
3. 50
A fine ranging from VND 20.000.000 to VND 30.000.000 shall be imposed for
committing one of the following violations:
a) providing or revealing information on customers,
their e-wallet account balances, or their payment transactions at intermediary
payment service providers against law regulations;
b) renting, hiring, borrowing or lending, or
trading information on, from 01 to under 10 e-wallets;
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4. 51
A fine ranging from VND 40.000.000 to VND 50.000.000 shall be imposed for
committing one of the following violations:
a) falsifying documentary evidences of eligibility
enclosed with the application for license to provide intermediary payment
services, if not liable to criminal prosecution;
b) erasing or altering contents of the license to
provide intermediary payment service; trading, transferring, lending or leasing
the license to provide intermediary payment services; entrusting or authorizing
other entities to provide licensed intermediary payment services;
c) operating against the license to provide
intermediary payment services;
d) renting, hiring, borrowing or lending, or
trading information on, 10 e-wallets or more;
dd) forging documents when providing intermediary
payment services, if not liable to criminal prosecution;
e) performing, organizing or facilitating the
performance of the following acts: using or taking advantage of intermediary
payment services to gamble, organize gambling, rig, and conduct illegal
business or other illegal acts;
g) violating regulations on transaction limits of
e-wallets;
h) failing to honestly report on balance and
quantity of e-wallets as prescribed by law;
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k) stealing or colluding to steal information of
e-wallet accounts;
l) an intermediary payment service provider’s
provision of authorized cash payment and collection services, e-wallet
services, electronic payment gateway services without entering into cooperation
agreements or service provision contracts with banks or other organizations in
conformity with its license and regulations of the law;
m) failing to request customers to complete
connection of e-wallets to their checking accounts or debit cards opened at
affiliate banks before they start using e-wallets.
4a. 52
A fine ranging from VND 50.000.000 to VND 60.000.000 shall be imposed for
failing to honestly report on balance and quantity of e-wallets as prescribed
by law in case of a recommitted violation.
5. A fine ranging from VND 150.000.000 to VND
250.000.000 shall be imposed for providing intermediary payment services
without a valid license.
6. 53
Additional penalties:
The exhibits and instrumentalities used for
committing the violation prescribed in Point dd Clause 4 of this Article shall
be confiscated.
7. 54
Remedial measures:
a) Enforced transfer of benefits illegally obtained
from any of the administrative violations prescribed in Clause 2, Point b, c
Clause 3, Clause 4, and Clause 5 of this Article to state budget;
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c) Enforced return of the erased or altered license
if the violation in Point b Clause 4 of this Article is committed.
Article 28. Violations against regulations on
bank card operations
1. A warning shall be issued for committing one of
the following violations:
a) failing to carry out inspection and maintenance
of automated teller machines (ATMs);
b) failing to update the installation, relocation,
retiming and shutdown of ATMs on the ATM management system and official website
of the payment service provider.
2. A fine ranging from VND 10.000.000 to VND
15.000.000 shall be imposed for committing one of the following violations:
a) failing to give notification of the
installation, relocation, retiming and shutdown of ATMs as prescribed by law;
b) failing to ensure the availability of ATM system
as prescribed by law;
c) failing to maintain 24/7 operation of customer
service department;
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dd) failing to meet technical requirements
regarding ATMs’ software and connection lines as prescribed by law.
3. A fine ranging from VND 15.000.000 to VND
20.000.000 shall be imposed for failing to meet requirements on ATMs’
transaction logs as prescribed by law.
4. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for failing to adopt measures for ensuring safe
operation and confidentiality of ATMs.
5. A fine ranging from VND 30.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) committing violations against regulations on
currency of payment with cards;
b) collecting card surcharges or practicing price
discrimination against payments for goods/services with cards;
c) leasing, lending, buying or selling cards or
card-related information or opening cards on behalf of another person (except
anonymous prepaid cards) if the violation involves from 01 to under 10 cards;
d) 55
entering into contracts for issuance and use of cards against regulations of
law.
6. 56
A fine ranging from VND 50.000.000 to VND 100.000.000 shall be imposed for
committing one of the following violations:
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b) issuing cards or processing card payment against
law regulations;
c) failing to reject card payment in case the card
is used for conducting card transactions prohibited by law, or the card is lost
as informed by the cardholder, or the card is expired or locked, or the card is
used beyond the scope agreed upon in the contract or written agreement on
issuance and use of card.
7. 57
A fine ranging from VND 100.000.000 to VND 150.000.000 shall be imposed for
committing one of the following violations:
a) using, organizing or facilitating the use of
anonymous prepaid cards on the Internet or mobile applications or for cash
withdrawal purposes;
b) switching or conducting clearing and settlement
for card transactions against regulations of law on bank card operations;
c) transferring point-of-sale (POS) terminals or QR
Codes to other users; accepting card payment without entering into a merchant
service agreement; illegally using POS terminals or QR Codes;
d) Directly conducting, organizing or facilitating
the conduct of forged or fraudulent card transactions or fictitious
transactions at merchants (no occurrence of any sale of goods and provision of
services);
dd) stealing or colluding to steal card
information, if not liable to criminal prosecution.
8. Additional penalties:
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9. 58
Remedial measures:
a) Enforced transfer of benefits illegally obtained
from any of the administrative violations prescribed in Points c, dd Clause 5,
Points a, b Clause 6 and Clause 7 of this Article to state budget;
b) Prohibition of conclusion of merchant service
agreements with other acquirers until remedial measures against violation are
completed if the violation prescribed in Point b Clause 5 or Point a, c or d
Clause 7 of this Article is committed.
Article 28a. Violations
against regulations on paying agents 59
1. A fine ranging from VND 5.000.000 to VND
10.000.000 shall be imposed for committing one of the following violations:
a) providing untruthful information concerning the
provision or use of paying agent services;
b) receiving and processing customers’ requests for
information check or complaints against law regulations;
c) collecting fees other than those specified in the
fee schedule established and announced by the principal;
d) failing to use a separate checking account for
paying agent operations as prescribed by law;
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2. A fine ranging from VND 40.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) taking advantage of the role of a paying agent
to perform, organize, or facilitate forged or fraudulent transactions,
appropriation of customers’ money, transactions for the purposes of money
laundering, terrorism financing, financing of proliferation of weapons of mass
destruction, and other violations against laws;
b) performing operations beyond the scope of the
paying agent agreement signed by and between the paying agent and the
principal.
3. A fine ranging from VND 50.000.000 to VND
100.000.000 shall be imposed for committing one of the following violations:
a) assigning or acting as a paying agent against
the license for establishment and operation, or establishment license or
decision prescribing organization and operation issued by a competent authority
and any amendments to the license (if any).
b) a principal's failure to comply with regulations
on quantity of paying agents and transaction limit for each paying agent;
c) assignment of agent operations to a third party
by a paying agent that is not a credit institution or FBB;
d) performing professional operations before
entering into a paying agent agreement with the principal;
dd) entering into a paying agent agreement with a
paying agent that is not a lawfully established enterprise and has outstanding
debts classified as bad debts by a credit institution or FBB in accordance with
SBV’s regulations;
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4. Remedial measures:
a) Enforced transfer of benefits illegally obtained
from the administrative violation prescribed in Point b Clause 2 or Clause 3 of
this Article to state budget;
b) Enforced termination of paying agent operations
performed by the entities committing the violation in Clause 2 or Clause 3 of
this Article;
c) Enforced use of separate checking accounts for
paying agent operations if the violation in Point d Clause 1 of this Article is
committed;
d) Prohibition of conclusion of paying agent
agreements with other principals until remedial measures against violation are
completed if the violation prescribed in Point c or d Clause 1 of this Article
is committed;
dd) Enforced return of improperly collected fees to
payers or to state budget (in case of unknown payers) if the violation in Point
c Clause 1 of this Article is committed;
e) Enforced return of appropriated amounts of money
to customers if the violation in Point a Clause 2 of this Article is committed.
Article 29. Violations against regulations on
negotiable instruments
1. A fine ranging from VND 15.000.000 to VND
20.000.000 shall be imposed for signing any negotiable instruments ultra vires.
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a) failing to fulfill acceptor's duties as defined
in Article 22 of the Law on negotiable instruments;
b) sending collection orders to collectors against
regulations in Clauses 1, 2 and 3 Article 39 of the Law on negotiable
instruments.
3. A fine ranging from VND 30.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) transferring a negotiable instrument whose
prescribed time limit for presentment has expired, or which has not been
accepted or has been rejected for payment or has been lost as informed by its
holder as prescribed in Clause 4 Article 15 of the Law on negotiable
instruments;
b) drawing cheques in case of insolvency.
4. A fine ranging from VND 60.000.000 to VND
120.000.000 shall be imposed for committing one of the following violations:
a) forging signatures affixed to negotiable
instruments;
b) failing to comply with regulations on printing,
delivery and management of blank cheques in Clauses 2, 3 Article 64 of the Law
on negotiable instruments.
5. Additional penalties:
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6. Remedial measures:
Enforced transfer of benefits illegally obtained
from the administrative violation prescribed in Point b Clause 3 or Clause 4 of
this Article to state budget.
Article 30. Violations against regulations on
cash and vault management
1. A warning shall be issued for committing one of
the following violations:
a) 60
failing to publicly post typical examples and SBV’s regulations on receipt and
exchange of cash unfit for circulation at transaction locations;
b) making loss of provided specimen cash; failing
to provide specimen cash to eligible entities; failing to collect specimen cash
upon notification of suspension of circulation thereof or at the request of a
competent authority;
c) failing to open or sufficiently keep records of vault
safety-related activities in accordance with law regulations.
2. 61
A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed for
failing to comply with regulations on classification, packing and delivery of
precious metals and precious stones; packing, sealing, delivery, preservation,
transport and inventory of cash, precious assets and financial instruments,
except the cases prescribed in Point a Clause 3 and Points b, c, d and dd
Clause 5 of this Article.
3. A fine ranging from VND 10.000.000 to VND
15.000.000 shall be imposed for committing one of the following violations:
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b) failing to develop vault protection and security
plans;
c) failing to promulgate internal rules or plans
for fire safety for the vault;
d) failing to classify cash unfit for circulation.
dd) 62
rejecting customers’ requests for exchange of cash unfit for circulation
against regulations of law.
4. A fine ranging from VND 15.000.000 to VND
20.000.000 shall be imposed for failing to install security equipment or fire
protection equipment for the vault as prescribed by law.
5. A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for committing one of the following violations:
a) performing cash exchange transactions against
law;
b) failing to manage cash, precious assets and
financial instruments during lunch break as prescribed by law;
c) using and managing keys of the vault lock, its
inner compartments, safe or cash boxes used in specialized vehicles against law
regulations;
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dd) failing to document conditions and procedures
for receipt and return of assets to customers, responsibility of relevant
departments to ensure asset safety while rendering asset custody/management
services, leasing safe deposit boxes and other cash-related services.
6. A fine ranging from VND 40.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) using a vault that does not meet design
requirements and technical standards regulated by law;
b) using a vault with its door failing to meet
technical standards regulated by law.
Article 31. Violations against regulations on
protection of Vietnam’s cash
1. A warning shall be issued for committing one of
the following violations:
a) failing to promptly notify a competent authority
when detecting counterfeit money of a new type;
b) failing to promptly notify a competent authority
when detecting any signs of storing, using and/or transporting counterfeit
money;
c) 63
arranging persons who have not yet undergone training in skills of distinguishing
between the real and counterfeit money to seize counterfeit money or take
suspected counterfeit money into custody;
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2. A fine ranging from VND 5.000.000 to VND
10.000.000 shall be imposed for committing one of the following violations:
a) failing to seize counterfeit money upon
detection;
b) failing to take money which is suspected of
being counterfeit money into custody;
c) failing to make records or failing to collect,
seal and punch counterfeit money according to SBV’s regulations on handling of
counterfeit money and suspected counterfeit money when seizing counterfeit
money or taking suspected counterfeit money into custody.
3. A fine ranging from VND 10.000.000 to VND
15.000.000 shall be imposed for sabotaging or destroying Vietnam's cash against
law regulations.
4. A fine ranging from VND 40.000.000 to VND
50.000.000 shall be imposed for photocopying, printing or using design, a part
of or all images, elements or patterns on Vietnam's cash against law
regulations.
5. Additional penalties:
All exhibits and instrumentalities used for
committing any of the administrative violations prescribed in Clauses 2, 3 and
4 of this Article shall be confiscated and handed over to competent
authorities.
6. Remedial measures:
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b) Enforced destruction of all exhibits and
instrumentalities used for committing any of the violations prescribed in
Clause 4 of this Article;
c) Enforced transfer of benefits illegally obtained
from any of the violations prescribed in Clause 4 of this Article to state
budget.
Section 9. VIOLATIONS AGAINST REGULATIONS ON
PURCHASE AND INVESTMENT IN FIXED ASSETS AND TRADING IN REAL ESTATE BY CREDIT
INSTITUTIONS AND FOREIGN BANK BRANCHES (FBBs)
Article 32. Violations against regulations on
purchase of and investment in fixed assets
1. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for purchasing or making investment in fixed
assets directly used to serve operations resulting in the value of such assets
exceeding 50% of the charter capital and fund for charter capital increase of a
credit institution or 50% of the assigned capital and fund for assigned capital
increase of a FBB.
2. Remedial measures:
a) Enforced maintenance of the ratio of the value
of fixed assets directly used to serve operations to sum of the charter capital
or assigned capital and fund for charter capital increase or the fund for
assigned capital increase as prescribed in Article 140 of the Law on credit
institutions for a maximum period of 06 months from the effective date of the
penalty imposition decision if the violation prescribed in Clause 1 of this
Article is committed;
b) Enforced transfer of benefits illegally obtained
from the violation prescribed in Clause 1 of this Article to state budget.
Article 33. Violations against regulations on
real estate trading
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2. Remedial measures:
Enforced transfer of benefits illegally obtained
from the violation prescribed in Clause 1 of this Article to state budget.
Section 10. VIOLATIONS AGAINST REGULATIONS ON
GUARANTEE OF SAFE OPERATION OF CREDIT INSTITUTIONS AND FOREIGN BANK BRANCHES
Article 34. Violations against regulations on
reserve requirements and compulsory purchase of SBV bills
1. A warning shall be issued for committing one of
the following violations:
a) failing to maintain the required reserve as
prescribed by law;
b) failing to comply with regulations on compulsory
purchase of SBV bills.
2. A fine ranging from VND 10.000.000 to VND
20.000.000 shall be imposed for failing to maintain the required reserve as
prescribed by law in case of a recommitted or repeated violation.
3. Remedial measures:
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Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 35. Violations against regulations on
prudential ratios
1. A fine ranging from VND 200.000.000 to VND
220.000.000 shall be imposed for committing violations against law regulations
on one of the following prudential ratios:
a) Maximum ratio of short-term capital used for
provision of medium-term and long-term loans;
b) Loan-to-deposit ratio;
c) Ratio of purchase or investment in Government
bonds and government-guaranteed bonds.
2. A fine ranging from VND 250.000.000 to VND
300.000.000 shall be imposed for committing violations against law regulations
on solvency ratio.
3. A fine ranging from VND 300.000.000 to VND
350.000.000 shall be imposed for committing violations against law regulations
on capital adequacy ratio.
4. Remedial measures:
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b) Prohibition of expansion of operating scope,
scale and regions or addition of business lines until remedial measures against
the violation are completed if any of the violations prescribed in Point d
Clauses 1, 2 and 3 of this Article is committed;
c) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, or proposed dismissal or prohibition
of them from holding the management or supervision position at a credit
institution or FBB if the violation prescribed in Clause 2 or Clause 3 of this
Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 36. Violations against regulations on
classification of assets, off-balance-sheet (OBS) items, creation and use of
provisions for losses
1. A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for committing one of the following violations:
a) classifying assets and OBS items against law
regulations;
b) setting aside provisions for losses against law
regulations, unless the creation of provisions for losses against law
regulations is the consequence of the violation prescribed in Point a Clause 1
of this Article;
c) using provisions for handling losses against law
regulations;
d) failing to have measures for fully recovering
debts which have been settled using provisions.
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a) Enforced classification of assets and creation
of provisions for losses; enforced reversal of improperly used provisions for
losses, and recording of debts settled using provisions for losses on the
balance sheet as prescribed within a maximum duration of 01 month from the
effective date of the penalty imposition decision if any of the violations
prescribed in Clause 1 of this Article is committed;
b) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, or proposed dismissal or prohibition
of them from holding the management or supervision position at a credit
institution or FBB if the violation prescribed in Clause 1 of this Article is
committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 37. Violations against regulations on
setting aside and use of funds
1. A fine ranging from VND 20.000.000 to VND
40.000.000 shall be imposed for setting aside or using funds against law
regulations.
2. Remedial measures:
Enforced setting aside of funds as prescribed by
law within 15 days from the effective date of the penalty imposition decision
if the violation prescribed in Clause 1 of this Article is committed.
Section 11. VIOLATIONS AGAINST REGULATIONS ON
DEPOSIT INSURANCE
Article 38. Violations against regulations on
deposit insurance
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a) failing to publicly post the copy of the
certificate of deposit insurance at all transaction locations that take
deposits;
b) making insufficient or late payment of deposit
insurance premiums;
c) failing to comply with the time limit for application
for certificate of deposit insurance as prescribed in Clause 1 Article 14 of
the Law on deposit insurance.
2. A fine ranging from VND 30.000.000 to VND
40.000.000 shall be imposed for failing to pay deposit insurance premiums as
prescribed by law.
3. A fine ranging from VND 40.000.000 to VND
60.000.000 shall be imposed for failing to make deposit insurance payout to
insured depositors within the time limit prescribed in Article 23 of the Law on
deposit insurance.
4. A fine ranging from VND 60.000.000 to VND
80.000.000 shall be imposed for committing one of the following violations:
a) offering insurance for uninsured deposits
prescribed in Article 19 of the Law on deposit insurance;
b) forging documents concerning deposit insurance
if not liable to criminal prosecution.
5. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for committing one of the following violations:
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b) obstructing, hindering or damaging legitimate rights
and benefits of deposit insurers, deposit insurance policyholders, insured
depositors and other authorities and organizations involved in the deposit
insurance;
c) abusing positions and powers to act against
regulations of the Law on deposit insurance.
6. Remedial measures:
a) Enforced posting of the copy of certificate of
deposit insurance if the violation prescribed in Point a Clause 1 of this
Article is committed;
b) Enforced payment of insurance premiums in full
if the violation prescribed in Point b Clause 1 of this Article is committed
and payment of late payment interest that is equal to 0.05% of the unpaid
premiums for each day of late payment as prescribed in Clause 1 Article 21 of
the Law on deposit insurance;
c) Enforced reimbursement of collected insurance
premiums or recovery of delivered insurance payouts if any of the violations
prescribed in Clause 4 of this Article is committed;
d) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, or proposed dismissal or prohibition
of them from holding the management or supervision position at a credit
institution or FBB if any of the violations prescribed in Point b Clause 4 and
Points a, c Clause 5 of this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Section 12. VIOLATIONS AGAINST REGULATIONS ON
ANTI-MONEY LAUNDERING; ANTI-TERRORISM FINANCING; COUNTER TO FINANCING OF
PROLIFERATION OF WEAPONS OF MASS DESTRUCTION64
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1. A fine ranging from VND 100.000.000 to VND
150.000.000 shall be imposed for committing one of the following violations:
a) failing to identify customers; failing to update
or verify customer identification information or customer identity; updating or
verifying customer identification information against the provisions of
Articles 8, 9, 10, 11 of the Law on Anti-money Laundering and Law on
Anti-terrorism;
b) Failing to update the list of organizations or
individuals involved in acts of terrorism or terrorism financing or the list of
organizations or individuals charged with being involved in proliferation and
financing of proliferation of weapons of mass destruction.
2. A fine ranging from VND 150.000.000 to VND
250.000.000 shall be imposed for failing to ensure confidentiality of
information, documents and reports as prescribed in Article 29 of the Law on
Anti-money Laundering and Law on Anti-terrorism.
3. Remedial measures:
a) Enforced implementation of regulations on
identification, updating and verification of customer identification
information as prescribed in Articles 8, 9, 10 and 11 of the Law on Anti-money
Laundering and the Law on Anti-terrorism if the violation in Point a Clause 1
of this Article is committed;
b) Proposed prohibition of violating entities
and/or persons responsible for the violation from holding the management or
supervision position at a credit institution or FBB if any of the violations
prescribed in Clauses 1, 2 of this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 40. Violations against internal
regulations on anti-money laundering, anti-terrorism financing, counter to financing
of proliferation of weapons of mass destruction 66
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a) failing to promulgate internal regulations on
anti-money laundering, anti-terrorism financing, counter to financing of
proliferation of weapons of mass destruction or promulgating such internal
regulations against regulations of law;
b) failing to assign or register the assignment of
officials/departments in charge of anti-money laundering and anti-terrorism
financing tasks, or carrying out such assignment tasks against regulations of
law;
c) failing to conduct internal audits or conducting
such internal audits against regulations of laws on anti-money laundering and
anti-terrorism financing;
d) failing to provide training/refresher training
courses in anti-money laundering and anti-terrorism financing or providing such
courses against regulations of law.
2. Remedial measures
Enforced promulgation of internal regulations as
prescribed by law or enforced invalidation of internal regulations that have
contents inconsistent with regulations of law if the violation in Point a
Clause 1 of this Article is committed.
Article 41. Violations against regulations on
risk-based customer classification67
A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for failing to carry out risk-based customer
classification or carrying out such risk-based customer classification tasks
against regulations of Clauses 2, 3, 4 Article 12 of the Law on anti-money
laundering, the Law on anti-terrorism financing and regulations of law on
counter to financing of proliferation of weapons of mass destruction.
Article 42. Violations against regulations on
identification of foreign customers that are politically exposed persons (PEPs)
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Article 43. Violations against regulations on
correspondent banking relationship, transactions using new technologies,
special supervision of transactions69
1. A fine ranging from VND 150.000.000 to VND
200.000.000 shall be imposed for committing one of the following violations:
a) failing to adopt the measures in Article 14 of
the Law on anti-money laundering when establishing a correspondent banking
relationship with a foreign bank;
b) failing to promulgate procedures as prescribed
in Article 15 of the Law on anti-money laundering.
2. A fine ranging from VND 200.000.000 to VND
300.000.000 shall be imposed for failing to carry out special supervision of
certain transactions as prescribed in Article 16 of the Law on anti-money
laundering.
3. Remedial measures:
a) Enforced implementation of the measures in
Article 14 of the Law on anti-money laundering if the violation in Point a
Clause 1 of this Article is committed;
b) Enforced promulgation of procedures as
prescribed in Article 15 of the Law on anti-money laundering if the violation
in Point b Clause 1 of this Article is committed;
c) Enforced special supervision of certain
transactions as prescribed in Article 16 of the Law on anti-money laundering if
the violation in Point c Clause 1 of this Article is committed;
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Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 44. Violations against regulations on
reporting on high-value transactions, suspicious transactions, electronic money
transfer, money laundering for terrorism financing purposes, financing
terrorism, and financing of proliferation of weapons of mass destruction 70
1. A fine ranging from VND 80.000.000 to VND
120.000.000 shall be imposed for failing to submit reports on schedule as
prescribed in the Law on anti-money laundering and the Law on anti-terrorism
financing.
2. A fine ranging from VND 150.000.000 to VND
250.000.000 shall be imposed for committing one of the following violations:
a) failing to submit reports on high-value
transactions;
b) failing to submit reports on suspicious
transactions involving money laundering, financing terrorism or financing of
proliferation of weapons of mass destruction;
c) failing to submit reports on electronic funds
transfer transactions;
d) failing to submit reports on money laundering
activities for terrorism financing purpose as prescribed in Article 30 of the
Law on anti-money laundering, failing to submit reports on customers or their
transactions suspected of being related to terrorism financing and/or financing
of proliferation of weapons of mass destruction, or on customers suspected of
being on the blacklist or the list of organizations or individuals charged with
being involved in proliferation and financing of proliferation of weapons of
mass destruction as prescribed in the Law on anti-terrorism financing and
regulations of law on counter to financing of proliferation of weapons of mass
destruction.
3. Remedial measures
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b) Proposed suspension or dismissal of violating
entities and/or persons responsible for the violation from holding the
management or supervision position; or proposed prohibition of them from
holding the management or supervision position at a credit institution or FBB
if any of the violations in this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 44a. Violations
against regulations on information provision71
1. A fine ranging from VND 150.000.000 to VND
250.000.000 shall be imposed for failing to provide information, providing
false information or providing information against regulations of the Law on
anti-money laundering, the Law on anti-terrorism financing and regulations of
law on counter to financing of proliferation of weapons of mass destruction, if
not liable to criminal prosecution.
2. Remedial measures
a) Enforced correction of false information if the
violation in this Article is committed;
b) Proposed suspension or dismissal of violating
entities and/or persons responsible for the violation from holding the
management or supervision position; or proposed prohibition of them from holding
the management or supervision position at a credit institution or FBB if the
violation in this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 45. Violations against regulations on
transaction delay, account freezing, and asset sealing or impoundment 72
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a) failing to submit reports on delay of
transaction of which related parties are on the blacklist or when having
reasonable grounds to suspect that the transaction is related to an offence as
prescribed in Clause 3 Article 33 of the Law on anti-money laundering;
b) failing to submit reports on account freezing,
sealing or impoundment of assets according to a decision issued by a competent
authority as prescribed in Article 34 of the Law on anti-money laundering;
c) failing to immediately submit reports on the
suspension of circulation or freezing of all money and assets related to the
terrorism financing or financing of proliferation of weapons of mass
destruction as prescribed by law.
2. A fine ranging from VND 250.000.000 to VND
350.000.000 shall be imposed for committing one of the following violations:
a) failing to delay the transaction of which the
related parties are on the blacklist or when having reasonable grounds to
suspect that the transaction is related to an offence as prescribed in Clause 1
Article 33 of the Law on anti-money laundering;
b) failing to freeze accounts, seal or impound
assets according to a decision issued by a competent authority as prescribed in
Article 34 of the Law on anti-money laundering;
c) failing to immediately suspend the circulation
or freeze all money and assets related to the terrorism financing or financing
of proliferation of weapons of mass destruction as prescribed by law.
3. Remedial measures:
a) Enforced submission of adequate and accurate
reports if any of the violations in Clause 1 of this Article is committed;
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Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Article 45a. Violations
against regulations on risk assessment73
1. A fine ranging from VND 150.000.000 to VND
250.000.000 shall be imposed for committing one of the following violations:
a) failing to carry out money laundering and
terrorism financing risk assessment or update assessment results in accordance
with regulations of the Law on anti-money laundering;
b) failing to promulgate or update policies/procedures
for management of risks detected and defined in money laundering/terrorism
financing risk assessment reports in accordance with the Law on anti-money
laundering;
c) failing to submit, disseminate or publish
assessment results or failing to update money laundering/terrorism financing
risks in accordance with regulations of the Law on anti-money laundering.
2. Remedial measures:
a) Enforced implementation of regulations on money
laundering/terrorism financing risk assessment laid down in the Law on anti-money
laundering if the violation in Clause 1 of this Article is committed;
b) Proposed suspension or dismissal of violating
entities and/or persons responsible for the violation from holding the
management or supervision position; or proposed prohibition of them from
holding the management or supervision position at a credit institution or FBB
if the violation in this Article is committed.
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Article 46. Violations against regulations on
prohibited acts in anti-money laundering and anti-terrorism financing74
1. A fine ranging from VND 150.000.000 to VND
250.000.000 shall be imposed for obstructing the provision of information
serving the performance of anti-money laundering and anti-terrorism financing
tasks.
2. A fine ranging from VND 300.000.000 to VND
400.000.000 shall be imposed for committing one of the following violations:
a) creating or maintaining anonymous accounts or
accounts with fake names;
b) illegally providing services of receipt of cash,
cheques, other monetary instruments or stores of value and making payments to
beneficiaries at another location.
3. A fine ranging from VND 400.000.000 to VND
500.000.000 shall be imposed for committing one of the following violations:
a) organizing or facilitating money laundering
activities, if not liable to criminal prosecution;
b) establishing and maintaining business
relationship with a bank that is established in a country or territory but
neither exists in that country or territory nor bears the management or
supervision of any competent authority;
c) failing to denounce terrorism financing
activities, if not liable to criminal prosecution;
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dd) directly or indirectly providing money, assets,
financial resources, economic resources, financial services, or other services
for entities related to terrorism or terrorism financing.
4. Remedial measures:
Proposed suspension or dismissal of violating
entities and/or persons responsible for the violation from holding the
management or supervision position; or proposed prohibition of them from
holding the management or supervision position at a credit institution or FBB
if any of the violations in Clauses 2, 3 of this Article is committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a
credit institution or FBB.
Section 13. VIOLATIONS AGAINST REGULATIONS ON
PROVISION OF INFORMATION AND REPORTING
Article 47. Violations against regulations on
reporting, and information management and provision
1. A fine ranging from VND 5.000.000 to VND
10.000.000 shall be imposed for committing one of the following violations:
a) failing to meet deadlines and documentation
requirements for statistical reports covering a period of less than 01 month if
the violation is repeated within a fiscal year;
b) failing to submit required reports within the
time limits prescribed by law, except the cases prescribed in Point a of this
Clause, Points a, c Clause 5 of this Clause and Clause 1 Article 44 hereof;
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d) submitting reports containing inaccurate figures
if the violation is repeated within a fiscal year, except the case prescribed
in Point b Clause 5 of this Article.
2. A fine ranging from VND 10.000.000 to VND
15.000.000 shall be imposed for failing to submit all required reports or
submitting a report which does not contain adequate contents as prescribed by
law, except the cases prescribed in Clauses 2, 3 Article 44, Clause 1 Article
45 hereof.
3. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for committing one of the following violations:
a) failing to carry out registration of changes
with competent authorities as prescribed in Point b Clause 4 Article 29 of the
Law on Credit Institutions;
b) failing to publish the changes prescribed in
Points a, b, c and d Clause 1 Article 29 of the Law on Credit Institutions on
SBV’s means of mass media and 03 consecutive issues of a daily printed
newspaper or an online newspaper of Vietnam within 07 business days from the
date on which the SBV gives approval for such changes.
4. A fine ranging from VND 30.000.000 to VND
40.000.000 shall be imposed for committing one of the following violations:
a) 75
reporting in a dishonest manner, except the case in Point h Clause 4 Article 27
hereof;
b) providing information about operations of the
SBV, credit institutions or FBBs or information about their customers against
law regulations;
c) failing to provide information and/or documents
as prescribed by law;
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5. A fine ranging from VND 40.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) failing to send reports on credit information to
the SBV within the prescribed time limit;
b) sending credit information reports which contain
inaccurate or insufficient information or do not meet technical requirements or
failing to submit such reports on a timely manner to the SBV;
c) failing to submit reports on credit information
to the SBV in accordance with SBV’s regulations on credit information services;
d) failing to submit statistical reports on
inbound/outbound money transfer serving international payments as prescribed by
law.
6. A fine ranging from VND 50.000.000 to VND
100.000.000 shall be imposed for committing one of the following violations:
a) failing to immediately submit reports on
insolvency risk to competent authorities;
b) failing to provide information at the request of
the SBV and competent authorities as prescribed in Clause 4 Article 18 of the
Law on anti-money laundering.
7. Remedial measures:
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b) 76
Prohibition of expansion of operating scope, scale and regions or addition of
business lines until remedial measures against the violation are completed if
any of the violations prescribed in Points a, b, d Clause 1, Clause 2 and
Clause 5 of this Article is committed;
c) Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, or proposed dismissal or prohibition
of them from holding the management or supervision position at a credit
institution or FBB if the violation prescribed in Point a Clause 6 of this
Article is committed.
Proposed dismissal and implementation of other appropriate
measures against violating entities within the competence of a credit
institution or FBB.
Section 14. OBSTRUCTION OF INVESTIGATION AND
FAILURE TO COMPLY WITH REQUESTS OF COMPETENT OFFICIALS
Article 48. Obstruction of investigation and
failure to comply with requests of competent officials
1. A fine ranging from VND 2.000.000 to VND
3.000.000 shall be imposed for obstructing or hindering competent officials
from carrying out inspections.
2. A fine ranging from VND 5.000.000 to VND
10.000.000 shall be imposed for evading the inspection by competent officials.
3. A fine ranging from VND 10.000.000 to VND
20.000.000 shall be imposed for refusing to provide information, documents
and/or electronic data to inspection teams or competent officials.
4. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for committing one of the following violations:
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b) intentionally removing or moving or performing
other acts to change the existing status of the seals on vaults, safe,
accounting books/vouchers, credit extension dossiers or other exhibits which
are sealed and impounded;
c) failing to freeze accounts or remove freezing of
accounts at the request of a competent official as prescribed by law.
5. A fine ranging from VND 30.000.000 to VND
50.000.000 shall be imposed for committing one of the following violations:
a) 77
providing untruthful information and/or documents;
b) making unlawful intervention in actions taken by
competent authorities and banking supervision agencies;
c) hiding or altering documents/records or changing
exhibits during the inspection period.
6. A fine ranging from VND 50.000.000 to VND
100.000.000 shall be imposed for committing one of the following violations:
a) transferring funds or assets abroad after they
are frozen;
b) failing to deposit funds or assets to the SBV or
a credit institution at the request of the SBV after they are frozen;
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Article 49. Violations against regulations on
obligations of entities subject to banking inspection
1. A fine ranging from VND 5.000.000 to VND
10.000.000 shall be imposed for committing one of the following violations:
a) failing to provide sufficient and accurate
information and/or documents in a timely manner at the request of the SBV;
b) failing to comply with the SBV’s risk warnings
and recommendations for safe operations;
c) failing to provide reports or explanations about
the SBV’s risk warnings and recommendations for safe operations.
2. A fine ranging from VND 40.000.000 to VND
50.000.000 shall be imposed for failing to comply with conclusions,
recommendations or decisions on inspection.
3. Remedial measures:
Proposed suspension of violating entities and/or
persons responsible for the violation from holding the management or
supervision position for 01 – 03 months, proposed dismissal or prohibition of
them from holding the management or supervision position at a credit
institution or FBB if the violation prescribed in Clause 2 of this Article is
committed.
Proposed dismissal and implementation of other
appropriate measures against violating entities within the competence of a credit
institution or FBB.
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Article 50. Violations against regulations on
debt trading by credit institutions
1. A fine ranging from VND 50.000.000 to VND
80.000.000 shall be imposed for failing to establish a debt trading council
when buying and selling debts.
2. A fine ranging from VND 80.000.000 to VND
100.000.000 shall be imposed for committing one of the following violations:
a) selling a debt which is used as a guarantee for
other civil obligations, unless the obligee gives a written consent to the debt
sale;
b) the debt seller repurchases the debt it has
sold, except the case prescribed in Article 148dd of the Law on Credit
Institutions as amended in 2017.
3. Additional penalties:
The debt trading operations shall be suspended for
03 – 06 months if the violation prescribed in Clause 1 of this Article is
committed.
4. Remedial measures:
Enforced reversal of the sale of debts if the
violation prescribed in Clause 2 of this Article is committed.
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1. A fine ranging from VND 5.000.000 to VND
10.000.000 shall be imposed for committing one of the following violations:
a) managing purchased bad debts and inspecting
collaterals for such bad debts against law regulations;
b) authorizing credit institutions and inspecting
their performance of authorized contents against law regulations;
c) implementing measures for debt restructuring and
giving financial support to borrowers against law regulations;
d) making capital contributions or purchasing
shares against law regulations;
dd) setting aside and using provisions for risks to
the bad debts purchased at the market value against law regulations.
2. A fine ranging from VND 10.000.000 to VND
15.000.000 shall be imposed for committing one of the following violations:
a) buying and selling bad debts against law
regulations;
b) settling collaterals for purchased bad debts against
law regulations.
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Section 16. VIOLATIONS AGAINST REGULATIONS ON
INFORMATION SYSTEM SECURITY FOR BANKING OPERATIONS
Article 52. Violations against regulations on
information system security for banking operations
1. A fine ranging from VND 10.000.000 to VND
20.000.000 shall be imposed for committing one of the following violations:
a) failing to carry out assessment of information
technology (IT) risks and operational risks before using IT services rendered
by a third party as prescribed by law;
b) failing to carry out assessment of security
level of the information system employed for providing online transaction
services for customers before it is put into official operation.
2. A fine ranging from VND 20.000.000 to VND
30.000.000 shall be imposed for committing one of the following violations:
a) failing to disseminate or provide updated
regulations on information security to all staff members at least once every
year;
b) failing to take data backup or insufficiently
backing up data to ensure data security as prescribed by law;
c) failing to implement network security solutions
for controlling network connection as well as detecting and preventing attacks
and illegal access to information systems employed for providing online
transaction services for customers;
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dd) failing to provide instructions to customers on
measures for ensuring security and confidentiality of information when using
banking services on the Internet;
e) failing to keep logbooks of operations of
information systems and users, errors and information security incidents as
prescribed by law.
3. Additional penalties:
The use of IT services rendered by a third party
shall be suspended for 01 – 03 months if the violation prescribed in Point a
Clause 1 of this Article is committed.
4. Remedial measures:
Enforced compliance with regulations on information
system security in banking operations.
Chapter III
POWER TO IMPOSE PENALTIES AND RECORD ADMINISTRATIVE
VIOLATIONS
Article 53. Power to impose penalties of banking
supervision forces78
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a) Issue warning;
b) Impose a fine up to VND 500.000;
c) 79
Confiscate the exhibits and instrumentalities used for committing administrative
violations worth up to VND 1.000.000;
2. Chief inspectors of SBV's provincial branches
shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 50.000.000;
c) 80
Confiscate the exhibits and instrumentalities used for committing
administrative violations worth up to VND 100.000.000;
d) Impose additional penalties and remedial
measures specified in Clause 2 and Clause 4 Article 3 hereof.
3. Directors of Branches of SBV Banking Supervision
Agency shall have the power to:
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b) Impose a fine up to VND 250.000.000;
c) 81
Confiscate the exhibits and instrumentalities for used for committing
administrative violations worth up to VND 500.000.000;
d) Impose the additional penalties and remedial
measures specified in Clause 2 and Clause 4 Article 3 hereof.
4. The Head of SBV Banking Supervision Agency shall
have the power to:
a) Issue warning;
b) Impose a fine up to VND 1.000.000.000;
c) Impose the additional penalties and remedial
measures specified in Clause 2 and Clause 4 Article 3 hereof.
5. Heads of inspection teams established according
to decisions of the SBV’s Governor or the Head of SBV Banking Supervision
Agency shall have the power to impose administrative penalties as prescribed in
Clause 3 of this Article.
Heads of inspection teams established according to
decisions of Directors of SBV’s provincial branches, Directors of Branches of
SBV Banking Supervision Agency or Chief Inspectors of SBV’s provincial branches
shall have the power to impose administrative penalties as prescribed in Clause
2 of this Article.
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1. Chairpersons of communal-level People’s
Committees shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 5.000.000;
c) Confiscate the exhibits and instrumentalities
used for committing administrative violations worth up to VND 10.000.000.
2. Chairpersons of District-level People’s
Committees shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 100.000.000;
c) Suspend licenses/practicing certificates or
operations for a fixed period;
d) Confiscate the exhibits and instrumentalities
used for committing administrative violations;
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3. Chairpersons of Provincial People’s Committees
shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 1.000.000.000;
c) Suspend licenses/practicing certificates or
operations for a fixed period;
d) Confiscate the exhibits and instrumentalities
used for committing administrative violations;
dd) Impose the remedial measures mentioned in
Clause 4 Article 3 hereof.
Article 54a. Power
to impose administrative penalties of People’s Public Security Forces83
1. On-duty soldiers of People’s Public Security
Forces shall have the power to:
a) Issue warning;
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2. Heads of company-level Mobile Police Units,
heads of police stations and team leaders in charge of managing the soldiers
mentioned in Clause 1 of this Article shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 1.500.000.
3. Communal-level Police Chiefs, Heads of Police
Posts, Heads of Police Stations at border gates, export processing zones, Heads
of International Airport Police Offices, Majors of Mobile Police Battalions,
and Captains of Squadrons shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 2.500.000;
c) Confiscate the exhibits and instrumentalities
used for committing administrative violations worth up to VND 5.000.000.
4. Heads of district-level police agencies, heads
of professional divisions of the following authorities, including the Internal
Political Security Department, the Police Department for Administration of
Social Order, the Traffic Police Department, the Department of Fire Prevention,
Fighting and Rescue, the Department of Cybersecurity, Hi-Tech Crime Prevention
and Control, and the Immigration Department, and heads of provincial-level
police departments, including: Internal Political Security Divisions, Police
Divisions for Social Order Administration, Police Departments for Social Order
Crimes, Investigation Police Divisions for Corruption, Economic and Smuggling
Crimes, Investigation Police Divisions for Drug Crimes, Traffic Police
Divisions, Road and Railway Traffic Police Divisions, Road Traffic Police
Divisions, Waterway Police Divisions, Mobile Police Divisions, Criminal
Judgment Execution and Judicial Assistance Divisions, Police Divisions for
Prevention and Control of Environmental Crimes, Firefighting, Prevention and
Rescue Police Divisions, Cybersecurity, Hi-Tech Crime Prevention and Control
Divisions, Immigration Divisions, Economic Security Divisions, and External
Security Divisions, Colonels of Mobile Police Regiments, and Captains of
Squadrons, shall have the power to:
a) Issue warning;
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c) Confiscate the exhibits and instrumentalities
used for committing administrative violations worth up to VND 50.000.000;
d) Suspend licenses/practicing certificates or
suspend operations for fixed periods;
dd) Impose the remedial measures mentioned in Point
e Clause 4 Article 3 hereof.
5. Directors of Provincial-level Police Departments
shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 100.000.000;
c) Suspend licenses/practicing certificates or
operations for a fixed period;
d) Confiscate the exhibits and instrumentalities
used for committing administrative violations;
dd) Impose the remedial measures mentioned in
Points a, e, g, k, n, p Clause 4 Article 3 hereof.
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a) Issue warning;
b) Impose a fine up to VND 1.000.000.000;
c) Suspend licenses/practicing certificates or
operations for a fixed period;
d) Confiscate the exhibits and instrumentalities
used for committing administrative violations;
dd) Impose the remedial measures mentioned in
Points a, e, g, k, n, p Clause 4 Article 3 hereof.
Article 54b. Power
to impose administrative penalties of border guard forces84
1. On-duty soldiers of border guard forces shall
have the power to:
a) Issue warning;
b) Impose a fine up to VND 500.000.
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a) Issue warning;
b) Impose a fine up to VND 2.500.000.
3. Leaders of Task Force Teams for drug and crime
prevention and control which are put under the control of Task Force
Commissions for drug and crime prevention and control shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 10.000.000;
c) Confiscate the exhibits and instrumentalities
used for committing administrative violations worth up to VND 20.000.000.
4. Heads of border-guard posts, commanders of
border-guard flotillas and commanders of port border guards shall have the
power to:
a) Issue warning;
b) Impose a fine up to VND 25.000.000;
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5. Leaders of Task Force Teams for drug and crime
prevention and control affiliated to the Department of Drug and Crime
Prevention and Control under the control of the Command of Border Guards shall
have the power to:
a) Issue warning;
b) Impose a fine up to VND 100.000.000;
c) Confiscate the exhibits and instrumentalities
used for committing administrative violations worth up to VND 200.000.000.
6. Commanders of Provincial-level Border Guard
Forces, Captains of Naval Border Guard Squadrons, and Director of Department of
Drug and Crime Prevention and Control affiliated to the Border Guard High
Command shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 1.000.000.000;
c) Suspend licenses/practicing certificates or
operations for a fixed period;
d) Confiscate the exhibits and instrumentalities
used for committing administrative violations.
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1. On-duty coast guard officers shall have the
power to:
a) Issue warning;
b) Impose a fine up to VND 1.500.000.
2. Coastguard team leaders shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 5.000.000.
3. Coastguard squad leaders and captains of
coastguard stations shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 10.000.000;
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a) Issue warning;
b) Impose a fine up to VND 25.000.000;
c) Confiscate the exhibits and instrumentalities
used for committing administrative violations worth up to VND 50.000.000.
5. Captains of Naval Border Guard Squadrons; Heads
of Reconnaissance Commissions; Heads of Task Force Commissions for Drug Crime
Prevention and Control under the control of the Command of Coast Guard of
Vietnam shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 50.000.000;
c) Confiscate the exhibits and instrumentalities
used for committing administrative violations worth up to VND 100.000.000.
6. Regional Commands of Coast Guard and Director of
the Department of Operations and Legislation under the control of the Command
of Coast Guard of Vietnam shall have the power to:
a) Issue warning;
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c) Suspend license/practicing certificate for a
fixed period;
d) Confiscate the exhibits and instrumentalities
used for committing administrative violations.
7. The Commander of Vietnam Coast Guard shall have
the power to:
a) Issue warning;
b) Impose a fine up to VND 1.000.000.000;
c) Suspend licenses/practicing certificates or
operations for a fixed period;
d) Confiscate the exhibits and instrumentalities
used for committing administrative violations.
Article 54d. Power
to impose administrative penalties of market surveillance forces 86
1. Market controllers on duty shall have the power
to:
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b) Impose a fine up to VND 500.000.
2. Leaders of Market Surveillance Teams and Heads
of Professional Divisions under the control of the Departments of Market
Surveillance Operations shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 25.000.000;
c) Confiscate the exhibits and instrumentalities
used for committing administrative violations worth up to VND 50.000.000.
3. Directors of Provincial Market Surveillance
Departments and Director of Market Surveillance Operations Department
affiliated to Vietnam Directorate of Market Surveillance shall have the power
to:
a) Issue warning;
b) Impose a fine up to VND 50.000.000;
c) Confiscate the exhibits and instrumentalities
for committing administrative violations;
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4. The Director General of Vietnam Directorate of Market
Surveillance shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 1.000.000.000;
c) Confiscate the exhibits and instrumentalities
for committing administrative violations;
d) Suspend licenses/practicing certificates or
suspend operations for fixed periods.
Article 54dd. Power
to impose administrative penalties of tourism inspection forces 87
1. On-duty inspectors and persons assigned to carry
out specialized inspections shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 500.000.
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a) Issue warning;
b) Impose a fine up to VND 50.000.000;
c) Suspend licenses/practicing certificates or
operations for a fixed period;
d) Confiscate the exhibits and instrumentalities
for committing administrative violations worth up to VND 100.000.000;
dd) Impose the remedial measures mentioned in Point
n Clause 4 Article 3 hereof.
3. Heads of specialized inspection teams
established by Ministries shall have the power to:
a) Issue warning;
b) Impose a fine up to VND 250.000.000;
c) Suspend licenses/practicing certificates or
operations for a fixed period;
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dd) Impose the remedial measures mentioned in Point
n Clause 4 Article 3 hereof.
4. Chief Inspectors of Ministries shall have the
power to:
a) Issue warning;
b) Impose a fine up to VND 1.000.000.000;
c) Suspend licenses/practicing certificates or
operations for a fixed period;
d) Confiscate the exhibits and instrumentalities
used for committing administrative violations;
dd) Impose the remedial measures mentioned in Point
n Clause 4 Article 3 hereof.
Article 54e. Power
to impose administrative penalties of customs authorities88
The Director General of General Department of
Customs shall have the power to impose a fine up to VND 1.000.000.000.
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Chairperson of Vietnam Competition Commission shall
have the power to:
1. Issue warning.
2. Impose a fine up to VND 1.000.000.000.
3. Suspend licenses/practicing certificates or
operations for a fixed period.
4. Confiscate the exhibits and instrumentalities
used for committing administrative violations.
5. Impose the remedial measures mentioned in Point
n Clause 4 Article 3 hereof.
Article 55. Determination of power to impose
penalties for administrative violations in monetary and banking sector90
1. Power to impose administrative penalties of
Chairpersons of people’s committees at all levels
Chairpersons of People’s Committees at all levels
have the power to impose penalties for the administrative violations specified
in Chapter II of this Decree within the ambit of their assigned functions,
tasks and powers.
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Persons competent to impose penalties of market
surveillance forces have the power to impose penalties for the administrative
violations in Clause 1, Clause 2, Points a, b, h, i, k, l Clause 3, Points n, o
Clause 4, Points e, g, h Clause 5, Point c Clause 8 Article 23; Clause 1,
Clause 2, Point a Clause 3, Point a Clause 4, Point a Clause 6, Clause 7,
Points a, c Clause 8 Article 24 of this Decree.
3. Power to impose administrative penalties of
border guard forces
Persons competent to impose penalties of border
guard forces have the power to impose penalties for the administrative
violations in Clause 1, Clause 2, Points h, i, k Clause 3, Point h Clause 4,
Points e, g, h Clause 5 Article 23; Clause 1, Clause 2, Clause 4 Article 24;
Point c Clause 4 Article 47; Clause 3 Article 48; Point a Clause 5 Article 48
of this Decree.
4. Power to impose administrative penalties of
coast guard forces
Persons competent to impose penalties of coast
guard forces have the power to impose penalties for the administrative
violations in Clause 1, Clause 2, Points h, i, k Clause 3, Point h Clause 4,
Points e, g, h Clause 5, Point b Clause 8 Article 23; Clause 1, Clause 2,
Points a, b Clause 4, Point c Clause 5, Point a Clause 6, Points a, b Clause 8
Article 24 of this Decree.
5. Power to impose administrative penalties of
People’s Public Security Forces
Persons competent to impose penalties of People’s
Public Security Forces have the power to impose penalties for the
administrative violations in Clauses 3, 4, and 5 Article 4; Clause 1, Clause 2,
Points a, b, c, h, i, k, l Clause 3, Points h, n, o Clause 4, Points c, e, g, h
Clause 5, Point c Clause 8 Article 23; Clause 1, Clause 2, Clause 3, Clause 4,
Points a, c Clause 5, Clause 6, Clause 7, Clause 8 Article 24; Point b Clause
2, Clause 5, Clause 6, Clause 7 Article 26; Point a Clause 1, Points a, b
Clause 3, Points a, b, c, d, dd, e, i, k Clause 4, Clause 5 Article 27; Points
c, d Clause 5, Clause 6, Clause 7 Article 28; Point a Clause 1, Point a Clause
2, Point e Clause 3 Article 28a; Point c Clause 3, Clause 4 Article 30; Article
31; Clause 2 Article 39; Article 44; Article 45; Article 46; Point c Clause 4
Article 47; Article 48; Point b Clause 1, Point c Clause 2 Article 52 of this Decree.
6. Power to impose administrative penalties of
tourism inspection forces
Persons competent to impose penalties of tourism
inspection forces have the power to impose penalties for the administrative
violations in Clause 1, Clause 2, Points a, b, c, h, i, k, l Clause 3, Points
b, n, o Clause 4, Points e, g, h Clause 5 Article 23 of this Decree.
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The Director General of General Department of
Customs has the power to impose penalties for the administrative violations
specified in Point b Clause 8 Article 23, Point c Clause 5, Point b Clause 8
Article 24 of this Decree.
8. Power to impose administrative penalties of
Chairperson of Vietnam Competition Commission
The Chairperson of Vietnam Competition Commission
has the power to impose penalties for the administrative violations in Clause
1, Clause 2, Points h, i, k Clause 3, Points e, g, h Clause 5 Article 23;
Clause 1 Article 24 of this Decree..
9. Power to impose administrative penalties of
banking supervision agencies
Persons competent to impose penalties of banking
supervision agencies have the power to impose penalties for, and apply remedial
measures against, the administrative violations in Chapter II of this Decree
within the ambit of their assigned functions, tasks and powers.
Article 56. Power to record administrative
violations
The following persons shall have the power to
record administrative violations:
1. 91
The persons who have the power to impose penalties prescribed in Articles 53,
54, 54a, 54b, 54c, 54d, 54dd, 54e, and 54g of this Decree.
2. 92
Persons of People’s Army or People’s Public Security Forces that are performing
their duties at the authorities prescribed in this Decree according to
legislative documents or administrative documents promulgated by competent
authorities or officers; pilots in command, ship captains, train masters and
persons that they assign to record violations.
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Chapter IV
IMPLEMENTATION 93
Article 57. Effect
This Decree comes into force from December 31, 2019
and supersedes the Government’s Decree No. 96/2014/ND-CP dated October 17,
2014.
Article 58. Transition
1. Administrative violations in monetary and
banking sector committed before this Decree comes into force and discovered
afterwards but before the expiration of their prescriptive periods or currently
taken into consideration shall be handled in accordance with regulations that
are advantageous to the violating entities.
2. In case there is a complaint filed against a
decision on imposition of administrative penalty in monetary and banking sector
which has been issued or implemented before this Decree comes into force, the
complaint shall be solved in accordance with the Government’s Decree No.
96/2014/ND-CP dated October 17, 2014.
Article 59. Responsibility for implementation
The SBV’s Governor, Ministers, heads of ministerial
agencies, heads of Governmental agencies, Chairpersons of People’s Committees
of provinces and central-affiliated cities shall be responsible for the
implementation of this Decree./.
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CERTIFIED BY
PP. GOVERNOR
DEPUTY GOVERNOR
Doan Thai Son
1
The Government’s Decree No. 143/2021/ND-CP providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector is
promulgated pursuant to:
“The Law on Government Organization dated
June 19, 2015, the Law on amendments to the Law on Government Organization and
the Law on Organization of Local Governments dated November 22, 2019;
The Law on penalties for administrative
violations dated June 20, 2012, and the Law on amendments to the Law on
penalties for administrative violations dated November 13, 2020;
Pursuant to the Law on the State Bank of Vietnam
dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated
June 16, 2010, and the Law on amendments to the Law on Credit Institutions
dated November 20, 2017;
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Pursuant to the Law on Anti-terrorism dated June
12, 2013;
And at the request of the Governor of the State
bank of Vietnam (“SBV”);”
2
This Point is amended according to Clause 1 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
3
This Article is amended according to Clause 2 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
4
This Article is added according to Clause 3 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
5
The phrase “tịch thu giấy phép đã bị tẩy xóa, sửa chữa” (“confiscation of
erased and altered licenses”) is annulled according to Clause 1 Article 2 of
the Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
6
This Point is amended according to Point a Clause 4 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
7
This Point is amended according to Point b Clause 4 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
8
This Point is amended according to Point b Clause 4 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
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10
This Point is added according to Point c Clause 4 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
11
This Article is added according to Clause 5 Article 1 of the Government’s Decree
No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
12
The phrase “giả mạo” (“forging”) is annulled according to Clause 3 Article 2 of
the Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
13
This Clause is amended according to Point a Clause 6 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the Government’s
Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing penalties for
administrative violations in monetary and banking sector, coming into force
from January 01, 2022.
14
This Clause is abrogated according to Clause 2 Article 2 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
15
This Point is added according to Point b Clause 6 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
16
This Clause is abrogated according to Clause 2 Article 2 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
17
This Point is amended according to Point a Clause 7 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
18
This Point is added according to Point b Clause 7 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
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20
This Point is added according to Point b Clause 7 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
21
This Point is added according to Point c Clause 7 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
22
This Clause is amended according to Clause 8 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
23
This Point is added according to Point a Clause 9 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
24
This Point is added according to Point a Clause 9 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
25
This Point is added according to Point a Clause 9 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
26
This Point is added according to Point a Clause 9 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
27
This Clause is amended according to Point b Clause 9 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
28
This Point is amended according to Point c Clause 9 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
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30
This Point is added according to Clause 11 Article 1 of the Government’s Decree
No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
31
This Point is added according to Point a Clause 12 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
32
This Point is added according to Point b Clause 12 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
33
This Clause is amended according to Point c Clause 12 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
34
The phrase “giả mạo” (“forging”) is annulled according to Clause 3 Article 2 of
the Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
35
This Point is amended according to Point a Clause 13 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the Government’s
Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing penalties for
administrative violations in monetary and banking sector, coming into force
from January 01, 2022.
36
This Point is added according to Point b Clause 13 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
37
This Point is added according to Point c Clause 13 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
38
This Clause is amended according to Point d Clause 13 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
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40
This Clause is amended according to Point b Clause 14 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
41
This Point is amended according to Point a Clause 15 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
42
This Point is amended according to Point b Clause 15 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
43
This Point is amended according to Point c Clause 15 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
44
This Clause is amended according to Point d Clause 15 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
45
This Clause is amended according to Point dd Clause 15 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
46
This Clause is amended according to Point e Clause 15 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
47
This Clause is amended according to Point g Clause 15 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
48
This Point is amended according to Point a Clause 16 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
...
...
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50
This Clause is amended according to Point c Clause 16 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
51
This Clause is amended according to Point d Clause 16 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
52
This Clause is added according to Point dd Clause 16 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
53
This Clause is amended according to Point e Clause 16 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
54
This Clause is amended according to Point g Clause 16 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
55
This Point is amended according to Point a Clause 17 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
56
This Clause is amended according to Point b Clause 17 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
57
This Clause is amended according to Point c Clause 17 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the Government’s
Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing penalties for
administrative violations in monetary and banking sector, coming into force
from January 01, 2022.
58
This Clause is amended according to Point d Clause 17 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
...
...
...
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60
This Point is amended according to Point a Clause 19 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
61
This Clause is amended according to Point b Clause 19 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
62
This Point is added according to Point c Clause 19 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the Government’s
Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing penalties for
administrative violations in monetary and banking sector, coming into force
from January 01, 2022.
63
This Point is amended according to Clause 20 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
64
Heading of this Section is amended according to Clause 21 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
65
This Article is amended according to Clause 22 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
66
This Article is amended according to Clause 23 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
67
This Article is amended according to Clause 24 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
68
This Article is amended according to Clause 25 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
...
...
...
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70
This Article is amended according to Clause 27 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
71This
Article is added according to Clause 28 Article 1 of the Government’s Decree
No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
72
This Article is amended according to Clause 29 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
73
This Article is added according to Clause 30 Article 1 of the Government’s Decree
No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
74
This Article is amended according to Clause 31 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
75
This Point is amended according to Point a Clause 32 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the Government’s
Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing penalties for
administrative violations in monetary and banking sector, coming into force
from January 01, 2022.
76
This Point is amended according to Point b Clause 32 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
77
This Point is amended according to Clause 33 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
78
Heading of this Article is amended according to Point a Clause 34 Article 1 of
the Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
...
...
...
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80
This Point is amended according to Point c Clause 34 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
81
This Point is amended according to Point d Clause 34 Article 1 of the
Government’s Decree No. 143/2021/ND-CP, providing amendments to the
Government’s Decree No. 88/2019/ND-CP dated November 14, 2019 prescribing
penalties for administrative violations in monetary and banking sector, coming
into force from January 01, 2022.
82
This Article is amended according to Clause 35 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
83
This Article is added according to Clause 36 Article 1 of the Government’s Decree
No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
84
This Article is added according to Clause 37 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
85
This Article is added according to Clause 38 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
86
This Article is added according to Clause 39 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
87
This Article is added according to Clause 40 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
88
This Article is added according to Clause 41 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
...
...
...
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90
This Article is amended according to Clause 43 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
91
This Clause is amended according to Clause 44 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
92
This Clause is amended according to Clause 44 Article 1 of the Government’s
Decree No. 143/2021/ND-CP, providing amendments to the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019 prescribing penalties for administrative
violations in monetary and banking sector, coming into force from January 01,
2022.
93
Articles 3 and 4 of the Government’s Decree No. 143/2021/ND-CP, providing
amendments to the Government’s Decree No. 88/2019/ND-CP dated November 14, 2019
prescribing penalties for administrative violations in monetary and banking
sector, coming into force from January 01, 2022, set down the following
regulations:
“Article 3. Responsibility for
implementation
The SBV’s Governor, Ministers, heads of
ministerial agencies, heads of Governmental agencies, Chairpersons of People’s
Committees of provinces and central-affiliated cities, and relevant agencies
shall be responsible for the implementation of this Decree.
Article 4. Implementation
1. This Decree comes into force from January 01,
2022.
2. Transition
...
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b) In case there is a complaint filed against a
decision on imposition of administrative penalty in monetary and banking sector
which has been issued or implemented before this Decree comes into force, the
complaint shall be solved in accordance with the Government’s Decree No.
88/2019/ND-CP dated November 14, 2019.”