On August 9, 2023, the State Bank of Vietnam issued Document No. 6277/NHNN-TT on the implementation of the SBV’s directions and guiding documents on ensuring safe and sound intermediary payment services.
Accordingly, over the past time, the SBV had issued a number of guiding documents and directions requesting the intermediary payment service providers to implement measures to ensure the security, safety of their operations, and to promptly prevent, deter and mitigate the risks of intermediary payment services being taken advantage of for illegal activities. As a follow-up, the SBV has requested the intermediary payment service providers to urgently implement the following:
Continuing to review and enhance the measures of ensuring the safety and security of their operations; preventing any act of taking advantage of the intermediary payment services for illegal activities in accordance with the SBV’s guiding documents and directions on ensuring safe and sound intermediary payment services.
The legal representative of each intermediary payment service provider shall be responsible for the review and the implementation of the SBV’s guidance and directions as mentioned above.
Reporting on the status and the results of the implementation of the SBV’s guidance and directions, especially on the measures to promptly prevent, deter and mitigate the risks of intermediary payment services being taken advantage of for illegal activities. The contents of each report shall include a commitment of the intermediary payment service provider to reviewing and implementing the SBV’s guidance and directions, as well as a commitment to taking responsibility before the laws in case of any violation.
The above report shall be signed by the legal representative of the intermediary payment service provider and sent to the SBV (via the Payment Department).
Le Hang