Hanoi, November 4, 2026 – At the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Pham Quang Dzung chaired a meeting with experts from the International Monetary Fund (IMF) technical assistance project entitled “Strengthening Capacity for Risk-Based Anti-Money Laundering and Counter-Terrorist Financing Supervision”.
The IMF expert mission included Ms. Carolina Claver, Deputy Division Chief of the Financial Security Group, Legal Department; Ms. Stephanie Forte, Legal Counsel; and other IMF experts.
From November 3 to 4, 2026, the SBV and the IMF expert mission reviewed and assessed progress in implementing the Project's activities and discussed key issues concerning the development and refinement of the risk-based supervisory framework in the monetary and banking sector. Discussions focused on finalizing and implementing the Risk Assessment Toolkit, developing inspection and examination plans, refining the legal framework, and reviewing progress in implementing relevant actions under the Action Plan committed to the Financial Action Task Force (FATF).
An overview of the meeting
Deputy Governor Pham Quang Dzung emphasized that the Risk Assessment Toolkit jointly developed by the IMF and the SBV provides a fundamental basis for the SBV's anti-money laundering (AML) supervision, inspection, and examination activities. Over the past three years, the SBV has applied the Toolkit in practice through three assessment cycles, demonstrating its effectiveness in supporting both on-site and off-site supervision of AML and counter-terrorist financing (CTF) compliance.
He also highlighted the progress made in strengthening the legal framework. On October 30, 2026, the SBV Governor signed a Circular stipulating procedures for supervising anti-money laundering activities in the monetary and banking sector. The Circular is scheduled to take effect on December 1, 2026, concurrently with the amended Law on Anti-Money Laundering and its implementation guiding regulations.
According to the Deputy Governor, the issuance of the Circular marks an important milestone in establishing a formal and consistent legal basis for off-site supervision and clarifying the risk-based supervisory approach applicable to credit institutions and non-bank financial institutions under the SBV's regulatory authority. It also reflects Vietnam's efforts to fulfill its commitments to the FATF and the International Cooperation Review Group (ICRG), while providing a legal foundation for the effective implementation of risk-based supervision
Deputy Governor Pham Quang Dzung speaks at the meeting
The Deputy Governor expressed his appreciation to the IMF expert mission for its effective support over the past three years and expressed his hope that IMF experts would continue to work closely with the SBV's Anti-Money Laundering Department and relevant units in implementing the Circular and putting its provisions into practice.
At the meeting, Ms. Carolina Claver, Deputy Division Chief of the Financial Security Group, Legal Department of the IMF, presented the results achieved through cooperation with the SBV in implementing the Project. She noted that the IMF expert team highly appreciated the SBV's proactive engagement and sustained efforts throughout the Project. Over the past three years, the IMF has supported Vietnam in strengthening its AML framework and improving its relevant legal and regulatory arrangements.
Ms. Carolina Claver, Deputy Division Chief of the Financial Security Group, Legal Department of the International Monetary Fund (IMF), speaks at the meeting.
The IMF representative also commended the SBV's efforts to apply the IMF-supported risk assessment methodology in its supervisory activities, thereby helping Vietnam meet FATF standards and enhancing the effectiveness of the SBV's state management of anti-money laundering. Ms. Carolina Claver expressed her hope that, following the completion of the Project, the SBV would continue to update the Risk Assessment Toolkit in a flexible manner to reflect changes in market conditions and emerging developments.
In his concluding remarks, Deputy Governor Pham Quang Dzung thanked the IMF and its experts for their active and effective support to the SBV. Building on the results achieved under the Project, he highlighted several key technical principles, including maintaining regular assessment cycles using the Toolkit, periodically reviewing and evaluating its suitability to identify necessary adjustments, and strengthening human resource capacity.
The Deputy Governor also called on the IMF to continue coordinating with and supporting the SBV in reviewing and refining definitions and guidance on data collection for the Toolkit's assessment criteria, as well as revisiting these criteria to anticipate emerging risks, including those associated with transactions involving crypto-assets.
In addition, he requested IMF experts to provide technical advice and comments on the finalization and issuance of professional guiding documents, including a Manual on Anti-Money Laundering Supervision and other relevant procedures and operational guidelines.
Minh Khang