On 15 September 2025, the State Bank of Vietnam (SBV) issued Circular No. 27/2025/TT-NHNN (“Circular 27”) guiding the implementation of key provisions of the Law on Anti-Money Laundering (the “AML Law”).
Taking effect on 1 November 2025, Circular 27 replaces Circular No. 09/2023/TT-NHNN and marks a major leap forward in Vietnam’s evolving anti-money laundering (AML) regime. The Circular sharpens compliance expectations, enhances the risk-based approach, and reaffirms Vietnam’s commitment to the Financial Action Task Force (FATF) standards on combating money laundering, terrorist financing, and Weapons of Mass Destruction proliferation financing. Reporting entities under Vietnam’s AML regime include financial institutions and certain designated non-financial businesses and professions, such as legal professionals, accountants, property agents, precious metal/gemstone dealers, and other corporate services providers.
By addressing persistent implementation gaps under the previous framework, Circular 27 delivers on Action No. 5 of the National Action Plan—a cornerstone in Vietnam’s broader strategy to strengthen financial system integrity and align with global best practices.
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