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Anti-money laundering / counter-terrorism financing

VietinBank Board of Director's Statement on Anti-Money Laundering and Counter-Terrorism Financing

Dear Valued Customers,

Globalization – the process of continuing integration of the banking sector of countries all over the world – is strongly underway in every part of the globe. As part of this important transition, Vietnam Joint Stock Commercial Bank For Industry and Trade (VietinBank) has constantly expanded its operations beyond the core businesses in the country and established correspondent relationships with many financial institutions around the world. In the path to global integration in the banking industry, we value the collaboration with strategic partners to strengthen our Risk Management & Compliance capability, especially the management of Compliance, Anti-Money Laundering & Counter-Terrorism Financing. Being mindful of the critical role of a commercial bank – that is the ‘ first line of defense’ in preventing financial crime, VietinBank’s Board of Director pays special attention and investment in AML/CTF policies, human resources, information technology solutions to join hands with the Government of Vietnam so as to prevent money laundering transactions and terrorism financing.

At VietinBank, we adopt a compliance structure of 3-round control, which is designed in accordance with international practice; Complete the AML/CTF mechanisms and policies with the introduction to AML/CTF regulation framework; Complete the AML/CTF reporting procedure; Complete the identification and update of customer information; Modernize the process of reporting, detecting and handling of suspicious transactions as well as the performing of filter check of sanction lists; Regularly update and issue guidance documents, provide early warnings about sanctions, which are updated according to applicable law and the inter-governmental body combating money laundering and terrorism financing.

Training and communication of AML/CTF policies from management to staff at VietinBank has also been promoted through a wide variety of programmes - from case study on anti money laundering and terrorism financing in daily operation to monthly AML/CTF newsletter and AML/CTF foundation and in-depth training courses. In collaboration with foreign experts, we also held extensive training for the Bank’ employees through live broadcast learning mode.

As a compliant financial institutions, VietinBank is committed to:

  • Complying with the Vietnamese and international law and regulations on anti money laundering and counter terrorism financing.  
  • Strengthening the implementation of measures and supervision to better avoid financial loss, reputation risk and legal risk associated with AML/CTF.
  • Making exceptional efforts to protect our customers and employees from becoming a victim or incidentally abetting for money laundering and terrorism financing activities.

 

AML/CTF customer due diligence questionnaire

 

US Patriot Act Certificate

 

VietinBank's FATCA compliance