Vietnam's Ministry of Industry and Trade will check three Hanoi-based gold businesses for compliance with anti-money laundering rules in the fourth quarter of 2026, VietnamPlus reported. Deputy Minister Nguyễn Việt Sơn signed Decision 2763/QĐ-BCT on 21 October 2026, issuing the ministry's 2026 thematic inspection plan on anti-money laundering, countering the financing of terrorism and countering the financing of the proliferation of weapons of mass destruction. The decision took effect on the day it was signed.
Who is being inspected, and for what period
The plan names Mỹ Hạnh Gold Shop, a private enterprise in Hà Đông ward; Phúc Thành Hà Nội One Member Limited Liability Company in Bồ Đề ward; and Mạnh Tân Gold and Silver Limited Liability Company in Hàng Bạc ward. It does not allege any specific violation by the three firms. Its stated aims are to assess how businesses trading precious metals and gemstones comply with anti-money laundering law, find loopholes that could be used to hide the origin of assets or cash flows in large cash transactions, guide firms in fixing shortcomings and deal with administrative violations, if any.
The inspection covers business activity linked to precious-metal and gemstone transactions that carry money-laundering risk, for the period from 1 June 2025 to the time of inspection. The team is to be led by an official of the ministry's Domestic Market Management and Development Department who meets the criteria to head an inspection team, with a representative of the State Bank of Vietnam as deputy. The central bank's Anti-Money Laundering Department and other relevant agencies are also involved.
What inspectors will look at
- Internal rules: anti-money laundering regulations issued and kept up to date, with proof they were reported to the Anti-Money Laundering Department.
- Customer identification: identity records for customers and beneficial owners in cash purchases or sales of VND400 million or more in a single day.
- Risk assessment: procedures that grade customers as low, medium or high risk, and how national and sector risk assessments are applied.
- Transaction reports: electronic data and documents filed on transactions of VND400 million or more, plus suspicious-transaction reports when there are irregularities or customers hide their identity.
- Records and training: transaction logs, invoices, vouchers and documents, and staff training certificates.
The approach is risk-based, focusing on high-risk organisations, transaction types, customers and areas, and combines document checks with on-site checks. It must not duplicate inspections by other state agencies. The plan separates compliance shortcomings, administrative violations and cases with signs of crime, which are to be referred to the competent authorities when necessary.
Timeline
| Date | Step |
|---|---|
| 2022 | Law on Anti-Money Laundering adopted |
| 26 June 2026 | Decision 1139/QĐ-TTg issues the national action plan on the government's commitments against money laundering, terrorist financing and proliferation financing |
| 11 September 2026 | Prime Minister's Directive 34/CT-TTg on stepping up anti-money laundering work |
| 14, 16, and 18 September 2026 | The Domestic Market Management and Development Department and the Vietnam Gold Business Association hold briefings on the rules in Hanoi and Ho Chi Minh City |
| 21 October 2026 | Decision 2763/QĐ-BCT issues the inspection plan |
| Fourth quarter of 2026 | Inspections of the three Hanoi firms |
What it means and what comes next
For gold shops and other precious-metal traders, the plan spells out the records inspectors expect to see, centred on cash deals of VND400 million or more in a day, customer risk grading and suspicious-transaction reporting. For customers, cash deals at or above that level are the ones for which inspectors will check whether firms hold identity records and have filed reports. The ministry said the plan should help businesses review their internal procedures and strengthen risk management, and gives the sector a basis to carry out Directive 34/CT-TTg.
The inspection has three steps: the team sends notice of the plan and the inspection decision so firms can prepare documents, works directly at their head offices and shops, then drafts minutes, goes through them with each firm and issues conclusions within the required deadline. The state budget funds the work. For related rules on gold payments, see Vietnam requires cashless payment for daily gold transactions from VND5 million.