Pháp lý doanh nghiệp 
Nghị định 88/2019/NĐ-CP xử phạt vi phạm hành chính trong lĩnh vực tiền tệ và ngân hàng
- Tổng hợp lại tất cả các quy định pháp luật còn hiệu lực áp dụng từ văn bản gốc và các văn bản sửa đổi, bổ sung, đính chính…
- Khách hàng chỉ cần xem Nội dung MIX, có thể nắm bắt toàn bộ quy định pháp luật hiện hành còn áp dụng, cho dù văn bản gốc đã qua nhiều lần chỉnh sửa, bổ sung.
thuộc tính Nghị định 88/2019/NĐ-CP
| Cơ quan ban hành: | Chính phủ |
| Số công báo: | Đã biết Vui lòng đăng nhập tài khoản gói Tiêu chuẩn hoặc Nâng cao để xem Số công báo. Nếu chưa có tài khoản Quý khách đăng ký tại đây! |
| Số hiệu: | 88/2019/NĐ-CP |
| Ngày đăng công báo: | Đã biết Vui lòng đăng nhập tài khoản gói Tiêu chuẩn hoặc Nâng cao để xem Ngày đăng công báo. Nếu chưa có tài khoản Quý khách đăng ký tại đây! |
| Loại văn bản: | Nghị định |
| Người ký: | Nguyễn Xuân Phúc |
| Ngày ban hành: | 14/11/2019 |
| Ngày hết hiệu lực: | Đang cập nhật |
| Áp dụng: | |
| Tình trạng hiệu lực: | Đã biết Vui lòng đăng nhập tài khoản gói Tiêu chuẩn hoặc Nâng cao để xem Tình trạng hiệu lực. Nếu chưa có tài khoản Quý khách đăng ký tại đây! |
| Lĩnh vực: | Tài chính-Ngân hàng, Vi phạm hành chính |
TÓM TẮT VĂN BẢN
Ngày 14/11/2019, Chính phủ đã ban hành Nghị định 88/2019/NĐ-CP quy định về xử phạt vi phạm hành chính trong lĩnh vực tiền tệ và ngân hàng.
Theo đó, cá nhân trong lĩnh vực tiền tệ và ngân hàng bị phạt tiền từ 100 – 150 triệu đồng đối với một trong các hành vi vi phạm sau:
Thứ nhất, sử dụng thẻ ngân hàng để thực hiện các giao dịch cho các mục đích lừa đảo, gian lận; thanh toán bù trừ giao dịch thẻ không đúng quy định của pháp luật.
Thứ hai, chuyển thiết bị chấp nhận thẻ, QR Code cho bên khác sử dụng; chấp nhận thanh toán thẻ mà không có hợp đồng thanh toán thẻ; sử dụng trái phép các thiết bị chấp nhận thẻ, QR Code.
Thứ ba, thực hiện, tổ chức thực hiện hoặc tạo điều kiện để người khác thực hiện các hành vi giao dịch thẻ gian lận, giả mạo; giao dịch thanh toán khống tại đơn vị chấp nhận thẻ (không phát sinh việc mua bán hàng hóa và cung ứng dịch vụ).
Nghị định này cũng quy định mức phạt tiền từ 20 – 30 triệu đồng đối với cá nhân không niêm yết giá mua, bán ngoại tệ tại địa điểm giao dịch hoặc niêm yết nhưng hình thức và nội dung không rõ ràng, gây nhầm lẫn cho khách hàng. Bên cạnh đó, cá nhân không niêm yết công khai giá mua, giá bán vàng miếng tại địa điểm giao dịch theo quy định cũng bị phạt từ 30 – 50 triệu đồng.
Các mức phạt trên quy định áp dụng đối với cá nhân; mức phạt tiền đối với tổ chức có cùng một hành vi vi phạm hành chính bằng 02 lần mức phạt tiền đối với cá nhân.
Nghị định này có hiệu lực từ ngày 31/12/2019.
Xem chi tiết Nghị định88/2019/NĐ-CP tại đây
tải Nghị định 88/2019/NĐ-CP
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CHÍNH PHỦ ------------- Số: 88/2019/NĐ-CP |
CỘNG HÒA XÃ HỘI CHỦ NGHĨA VIỆT NAM Độc lập - Tự do - Hạnh phúc -------------- Hà Nội, ngày 14 tháng 11 năm 2019 |
NGHỊ ĐỊNH
Quy định về xử phạt vi phạm hành chính
trong lĩnh vực tiền tệ và ngân hàng
-------------
Căn cứ Luật Tổ chức Chính phủ ngày 19 tháng 6 năm 2015;
Căn cứ Luật Xử lý vi phạm hành chính ngày 20 tháng 6 năm 2012;
Căn cứ Luật Ngân hàng Nhà nước Việt Nam ngày 16 tháng 6 năm 2010;
Căn cứ Luật Các tổ chức tín dụng ngày 16 tháng 6 năm 2010, Luật sửa đổi, bổ sung một số điều của Luật Các tổ chức tín dụng ngày 20 tháng 11 năm 2017;
Căn cứ Luật Bảo hiểm tiền gửi ngày 18 tháng 6 năm 2012;
Căn cứ Luật Phòng, chống rửa tiền ngày 18 tháng 6 năm 2012;
Căn cứ Luật Phòng, chống khủng bố ngày 12 tháng 6 năm 2013;
Căn cứ Luật Các công cụ chuyển nhượng ngày 29 tháng 11 năm 2005;
Căn cứ Pháp lệnh Ngoại hối ngày 13 tháng 12 năm 2005, Pháp lệnh sửa đổi, bổ sung một số điều của Pháp lệnh Ngoại hối ngày 18 tháng 3 năm 2013;
Theo đề nghị của Thống đốc Ngân hàng Nhà nước Việt Nam;
Chính phủ ban hành Nghị định quy định xử phạt vi phạm hành chính trong lĩnh vực tiền tệ và ngân hàng.
QUY ĐỊNH CHUNG
Tùy theo tính chất, mức độ vi phạm, tổ chức, cá nhân có hành vi vi phạm hành chính trong lĩnh vực tiền tệ và ngân hàng có thể bị áp dụng một hoặc một số biện pháp khắc phục hậu quả sau đây theo quy định cụ thể tại Chương II Nghị định này:
HÀNH VI VI PHẠM HÀNH CHÍNH, HÌNH THỨC XỬ PHẠT VÀ MỨC PHẠT TIỀN
VI PHẠM QUY ĐỊNH VỀ QUẢN LÝ VÀ SỬ DỤNG GIẤY PHÉP
Tịch thu tang vật là giấy phép đã bị tẩy xóa, sửa chữa đối với hành vi quy định tại điểm b khoản 3 Điều này.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
VI PHẠM QUY ĐỊNH VỀ TỔ CHỨC, QUẢN TRỊ, ĐIỀU HÀNH
Thay thế các đối tượng được bầu, bổ nhiệm hoặc đề nghị cấp có thẩm quyền ra quyết định miễn nhiệm các đối tượng được bầu, bổ nhiệm vi phạm quy định tại các khoản 2, 3, 4 và 5 Điều này.
Buộc hủy bỏ ngay quy định nội bộ không đúng quy định của pháp luật đối với hành vi vi phạm quy định tại điểm b khoản 2 Điều này.
VI PHẠM QUY ĐỊNH VỀ CỔ PHẦN, CỔ PHIẾU, PHẦN VỐN GÓP
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài;
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
VI PHẠM QUY ĐỊNH VỀ HUY ĐỘNG VỐN
VÀ PHÍ CUNG ỨNG DỊCH VỤ
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
VI PHẠM QUY ĐỊNH VỀ CẤP TÍN DỤNG, NHẬN ỦY THÁC, ỦY THÁC VÀ HOẠT ĐỘNG LIÊN NGÂN HÀNG
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền, của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
Đình chỉ nghiệp vụ ủy thác của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài trong thời hạn từ 01 tháng đến 03 tháng đối với hành vi vi phạm quy định tại Điều này.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh, ngân hàng nước ngoài.
Đề nghị hoặc yêu cầu cấp có thẩm quyền xem xét, áp dụng biện pháp đình chỉ từ 01 tháng đến 03 tháng hoặc miễn nhiệm chức danh quản trị, điều hành, kiểm soát; không cho đảm nhiệm chức vụ quản trị, điều hành, kiểm soát tại các tổ chức tín dụng, chi nhánh ngân hàng nước ngoài đối với cá nhân vi phạm và/hoặc cá nhân chịu trách nhiệm đối với hành vi vi phạm quy định tại các khoản 5, khoản 6 Điều này.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
VI PHẠM QUY ĐỊNH VỀ HOẠT ĐỘNG CUNG ỨNG DỊCH VỤ THÔNG TIN TÍN DỤNG
Buộc thực hiện ngay việc đính chính thông tin sai lệch đối với hành vi vi phạm quy định tại khoản 2 Điều này.
Phạt tiền từ 20.000.000 đồng đến 40.000.000 đồng đối với một trong các hành vi vi phạm sau đây:
Đình chỉ việc thực hiện hoạt động cung ứng dịch vụ thông tin tín dụng trong thời hạn từ 01 tháng đến 03 tháng đối với hành vi vi phạm quy định tại khoản 2 Điều này.
Buộc nộp vào ngân sách nhà nước số lợi bất hợp pháp có được do thực hiện hành vi vi phạm quy định tại điểm a khoản 1 và khoản 2 Điều này.
Phạt tiền từ 10.000.000 đồng đến 15.000.000 đồng đối với một trong các hành vi vi phạm sau đây:
VI PHẠM QUY ĐỊNH VỀ HOẠT ĐỘNG NGOẠI HỐI VÀ KINH DOANH VÀNG
Đề nghị cơ quan có thẩm quyền thu hồi giấy chứng nhận đăng ký đại lý đổi ngoại tệ, giấy phép mở và sử dụng tài khoản ngoại tệ ở nước ngoài, giấy phép thành lập bàn đổi ngoại tệ cá nhân trong trường hợp tái phạm đối với hành vi vi phạm quy định tại điểm b khoản 4, điểm a khoản 5 Điều này.
Đề nghị cơ quan có thẩm quyền thu hồi Giấy phép kinh doanh mua, bán vàng miếng trong trường hợp tái phạm đối với hành vi vi phạm quy định tại điểm a khoản 5 Điều này.
VI PHẠM QUY ĐỊNH VỀ THANH TOÁN, QUẢN LÝ TIỀN TỆ VÀ KHO QUỸ
Tịch thu tang vật, phương tiện được sử dụng để thực hiện hành vi vi phạm quy định tại khoản 1, điểm b khoản 5 và điểm c, d khoản 6 Điều này.
Tịch thu tang vật, phương tiện được sử dụng để thực hiện hành vi quy định tại điểm b và điểm đ khoản 4 Điều này.
b) Đề nghị cấp có thẩm quyền thu hồi giấy phép đối với hành vi vi phạm tại các điểm a, b, c khoản 4 Điều này.
Tịch thu tang vật, phương tiện được sử dụng để thực hiện các hành vi quy định tại điểm c khoản 5, điểm a khoản 6, các điểm a, c và d khoản 7 Điều này.
Tịch thu tang vật, phương tiện được sử dụng để thực hiện hành vi vi phạm quy định tại khoản 4 Điều này.
Buộc nộp vào ngân sách nhà nước số lợi bất hợp pháp có được do thực hiện hành vi vi phạm quy định tại điểm b khoản 3 và khoản 4 Điều này.
Tịch thu toàn bộ tang vật, phương tiện thực hiện hành vi vi phạm tại các khoản 2, 3 và 4 Điều này, giao cơ quan có thẩm quyền xử lý.
VI PHẠM QUY ĐỊNH VỀ MUA, ĐẦU TƯ VÀO TÀI SẢN CỐ ĐỊNH VÀ KINH DOANH BẤT ĐỘNG SẢN CỦA TỔ CHỨC TÍN DỤNG, CHI NHÁNH NGÂN HÀNG NƯỚC NGOÀI
Buộc nộp vào ngân sách nhà nước số lợi bất hợp pháp có được do thực hiện hành vi vi phạm quy định tại khoản 1 Điều này.
VI PHẠM QUY ĐỊNH VỀ BẢO ĐẢM AN TOÀN HOẠT ĐỘNG CỦA TỔ CHỨC TÍN DỤNG, CHI NHÁNH NGÂN HÀNG NƯỚC NGOÀI
Đề nghị hoặc yêu cầu cấp có thẩm quyền xem xét, áp dụng biện pháp đình chỉ từ 01 tháng đến 03 tháng hoặc miễn nhiệm chức danh quản trị, điều hành, kiểm soát; không cho đảm nhiệm chức vụ quản trị, điều hành, kiểm soát tại các tổ chức tín dụng, chi nhánh ngân hàng nước ngoài đối với cá nhân vi phạm và/hoặc cá nhân chịu trách nhiệm đối với hành vi vi phạm quy định tại khoản 2 Điều này.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
Buộc trích lập các quỹ đúng quy định của pháp luật trong thời hạn 15 ngày kể từ ngày quyết định xử phạt vi phạm hành chính có hiệu lực đối với hành vi vi phạm tại khoản 1 Điều này.
VI PHẠM QUY ĐỊNH VỀ BẢO HIỂM TIỀN GỬI
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
VI PHẠM QUY ĐỊNH VỀ PHÒNG, CHỐNG RỬA TIỀN; PHÒNG, CHỐNG TÀI TRỢ KHỦNG BỐ
Phạt tiền từ 60.000.000 đồng đến 100.000.000 đồng đối với một trong các hành vi vi phạm sau đây:
Phạt tiền từ 100.000.000 đồng đến 150.000.000 đồng đối với hành vi không có hệ thống quản lý rủi ro để xác định khách hàng nước ngoài là cá nhân có ảnh hưởng chính trị theo quy định tại các khoản 2, 3 Điều 13 Luật Phòng, chống rửa tiền.
Đề nghị hoặc yêu cầu cấp có thẩm quyền xem xét, áp dụng biện pháp đình chỉ từ 01 tháng đến 03 tháng hoặc miễn nhiệm chức danh quản trị, điều hành, kiểm soát; không cho đảm nhiệm chức vụ quản trị, điều hành, kiểm soát tại các tổ chức tín dụng, chi nhánh ngân hàng nước ngoài đối với cá nhân vi phạm và/hoặc cá nhân chịu trách nhiệm đối với hành vi vi phạm quy định tại các khoản 2, khoản 3 Điều này.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
VI PHẠM QUY ĐỊNH VỀ CHẾ ĐỘ THÔNG TIN, BÁO CÁO
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
VI PHẠM QUY ĐỊNH VỀ CẢN TRỞ VIỆC THANH TRA, KHÔNG THỰC HIỆN YÊU CẦU CỦA NGƯỜI CÓ THẨM QUYỀN
Đề nghị hoặc yêu cầu cấp có thẩm quyền xem xét, áp dụng biện pháp đình chỉ từ 01 tháng đến 03 tháng hoặc miễn nhiệm chức danh quản trị, điều hành, kiểm soát; không cho đảm nhiệm chức vụ quản trị, điều hành, kiểm soát tại các tổ chức tín dụng, chi nhánh ngân hàng nước ngoài đối với cá nhân vi phạm và/hoặc cá nhân chịu trách nhiệm đối với hành vi vi phạm quy định tại khoản 2 Điều này.
Yêu cầu tổ chức tín dụng, chi nhánh ngân hàng nước ngoài cách chức và thực hiện các biện pháp xử lý khác theo quy định của pháp luật đối với cá nhân vi phạm thuộc thẩm quyền của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài.
VI PHẠM QUY ĐỊNH VỀ MUA, BÁN VÀ XỬ LÝ NỢ
Đình chỉ hoạt động mua, bán nợ trong thời hạn 03 tháng đến 06 tháng đối với vi phạm tại khoản 1 Điều này.
Buộc khôi phục nguyên trạng khoản nợ về trước thời điểm thực hiện hoạt động mua, bán nợ đối với hành vi vi phạm quy định tại khoản 2 Điều này.
VI PHẠM QUY ĐỊNH VỀ AN TOÀN CÔNG NGHỆ THÔNG TIN TRONG HOẠT ĐỘNG NGÂN HÀNG
Đình chỉ việc sử dụng dịch vụ công nghệ thông tin của bên thứ ba trong thời hạn 01 tháng đến 03 tháng đối với các vi phạm tại điểm a khoản 1 Điều này.
Buộc thực hiện đúng quy định của pháp luật về an toàn công nghệ thông tin trong hoạt động ngân hàng.
THẨM QUYỀN XỬ PHẠT VI PHẠM HÀNH CHÍNH VÀ THẨM QUYỀN LẬP BIÊN BẢN VI PHẠM HÀNH CHÍNH
Trưởng đoàn thanh tra do Giám đốc Ngân hàng Nhà nước chi nhánh tỉnh, thành phố trực thuộc trung ương, Cục trưởng Cục Thanh tra, giám sát ngân hàng, Chánh Thanh tra, giám sát Ngân hàng Nhà nước chi nhánh ra quyết định có thẩm quyền xử phạt theo quy định tại khoản 2 Điều này.
Tổng cục trưởng Tổng cục Hải quan xử phạt đối với những hành vi vi phạm hành chính quy định tại điểm b khoản 8 Điều 23, điểm c khoản 5, điểm b khoản 8 Điều 24 Nghị định này.
Người có thẩm quyền xử phạt của Thanh tra, giám sát ngành Ngân hàng có thẩm quyền lập biên bản vi phạm hành chính, xử phạt vi phạm hành chính và áp dụng các biện pháp khắc phục hậu quả đối với hành vi vi phạm hành chính quy định tại Chương II Nghị định này theo thẩm quyền và chức năng, nhiệm vụ, quyền hạn được giao.
Những người sau đây có thẩm quyền lập biên bản vi phạm hành chính:
ĐIỀU KHOẢN THI HÀNH
Nghị định này có hiệu lực thi hành từ ngày 31 tháng 12 năm 2019 và thay thế Nghị định số 96/2014/NĐ-CP ngày 17 tháng 10 năm 2014 của Chính phủ về xử phạt vi phạm hành chính trong lĩnh vực tiền tệ và ngân hàng.
Thống đốc Ngân hàng Nhà nước Việt Nam, Bộ trưởng, Thủ trưởng cơ quan ngang bộ, Thủ trưởng cơ quan thuộc Chính phủ, Chủ tịch Ủy ban nhân dân các tỉnh, thành phố trực thuộc trung ương chịu trách nhiệm thi hành Nghị định này./.
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Nơi nhận: - Ban Bí thư Trung ương Đảng; - Thủ tướng, các Phó Thủ tướng Chính phủ; - Các bộ, cơ quan ngang bộ, cơ quan thuộc Chính phủ; - HĐND, UBND các tỉnh, thành phố trực thuộc trung ương; - Văn phòng Trung ương và các Ban của Đảng; - Văn phòng Tổng Bí thư; - Văn phòng Chủ tịch nước; - Hội đồng Dân tộc và các Ủy ban của Quốc hội; - Văn phòng Quốc hội; - Tòa án nhân dân tối cao; - Viện kiểm sát nhân dân tối cao; - Kiểm toán Nhà nước; - Ủy ban Giám sát tài chính Quốc gia; - Ngân hàng Chính sách xã hội; - Ngân hàng Phát triển Việt Nam; - Ủy ban Trung ương Mặt trận Tổ quốc Việt Nam; - Cơ quan trung ương của các đoàn thể; - VPCP: BTCN, các PCN, Trợ lý TTg, TGĐ Cổng TTĐT, các Vụ, Cục, đơn vị trực thuộc, Công báo; - Lưu: VT, KTTH (2). |
TM. CHÍNH PHỦ THỦ TƯỚNG
Nguyễn Xuân Phúc |
THE GOVERNMENT | THE SOCIALISTREPUBLIC OF VIETNAM |
No. 88/2019/ND-CP | Hanoi, November 14, 2019 |
DECREE
On penalties for administrative violations against
currency and banking legal regulations
-------------------
Pursuant to the Law on Organization of the Government dated June 19, 2015;
Pursuant to the Law on Handling of Administrative Violations dated June 20, 2012;
Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated June 16, 2010; the Law dated November 20, 2017 amending and supplementing a number of articles of the Law on Credit Institutions;
Pursuant to the Law on Deposit Insurance dated June 18, 2012;
Pursuant to the Law on Prevention of Money Laundry dated June 18, 2012;
Pursuant to the Law on Anti-terrorism dated June 12, 2013;
Pursuant to the Law on Negotiable Instruments dated November 29, 2005;
Pursuant to the Ordinance on Foreign Exchange Control dated December 13, 2005, the Ordinance amending, supplementing a number of articles of the Ordinance on Foreign Exchange Control dated March 18, 2013;
At the request of the Governor of the State Bank of Vietnam;
The Government hereby issues a Decree regulating penalties for administrative violations against currency and banking legal regulations.
Chapter I
GENERAL PROVISIONS
Article 1. Scopeof regulation
1. This Decree regulates administrative violations, penalty measures, penalty rates, consequence improvement measures, decentralized competence on administrative violation penalties, competence on administrative violation notification in the fields off currency and banking.
2. Administrative violations in the fields of currency and banking include:
a) Violations against regulations on permit/license management and use;
b) Violations against regulations on organization, administration, management;
c) Violations against regulations on shares, stocks;
d) Violations against regulations on capital mobilization and service fees;
dd) Violations against regulations on credit loaning, trusteeship, entrustment and inter-banking activities;
e) Violations against regulations on provision of credit information services;
g) Violations against regulations on foreign exchange activities and gold trading;
h) Violations against regulations on currency and fund management and/or payment;
i) Violations against regulations on fixed asset purchase, investment and real estate trading of credit institutions and foreign bank branches;
k) Violations against regulations on credit institutions and foreign bank branches’ operation safety;
l) Violations against regulations on deposit insurance;
m) Violations against regulations on money laundering prevention, combat;
n) Violations against regulations on information communication, reporting;
o) Violations against regulations on inspection hindrance, inconformity against competent officers.
p) Violation against regulations on debt purchase, sale and handling;
q) Violation against regulations on bankinginformation technology safety.
Article 2.Subjects of application
1. This Decree applies to organizations and individuals that commit administrative violations in the fields of currency and banking.
2. Organizations defined in Clause 1 of this Article include:
a) Credit institutions; dependent units of credit institutions (domestic branches, transaction offices, representative offices and service providers; branches, representative offices and banks with 100% foreign capital); branches of foreign banks; Representative offices of foreign credit institutions and other foreign institutions engaged in banking activities;
b) Enterprises; dependent units of enterprises (branches, representative offices);
c) Cooperatives and cooperative federations; affiliated units of cooperatives and cooperative federations (branches, representative offices);
d) Other organizations being established and conducting business in Vietnam.
Article 3. Penalty measures, fines, fining competence and consequence improvement measures
1. Major penalty measures:
a) Warning;
b) Fining.
2. The following additional penalty measures:
a) Revocation for a definite term of the right to use the following licenses: certificates of registration of foreign currency exchange agent for a term of 01 month to 03 months; licenses for foreign currency collection and spending and other foreign exchange transactions for prize-winning electronic game business activities of foreigners and casinos for a term of 03 to 06 months; licenses for setting up individual foreign currency exchange desk for a term of 01 month to 06 months; licenses trading gold and selling gold bullions for a term of 06 to 09 months;
b) Suspension for a definite term of foreign currency exchange activity for a term of 03 to 06 months, trusteeship operations for a term of 01 month to 03 months, debt purchase and sale for a term of 03 to 06 months, credit information service provision for a term of from 01 month to 03 months, use of information technology services by third party for a term of 01 month to 03 months;
c) Confiscation of exhibits and instruments serving the administrative violations, erased or modified permits, foreign currencies, VND and gold.
3. Fines and fining competence:
a) Maximum fines for violations related to currency and banking are VND 2,000,000,000 to 1,000,000,000 imposed on a violating organization and a violating individual respectively;
b) The fines defined in Chapter II herein are applied to individuals. With the same violating action, the fines applied to organizations double the rates applied to individuals;
c) The fines for performance-related violations of individuals working for people’s credit funds, micro financial organizations are equal to 10% of the rates defined in Chapter II herein; and those applied to people’s credit funds, micro financial organizations double the rates applied to individuals working for the mentioned funds and/or organizations;
d) The fining competence on every title defined in Chapter III herein means the fining competence of individuals. The fining competence applied to organizations double the competence applied to individuals.
4. Consequence improvement measures:
Depending on violation nature and/or level, violating organizations and/or individuals may be applied one or more following improvement measures in accordance with Chapter II herein:
a) Compulsory submission into the state budget the illegitimate benefits obtained from committing violations; compulsory debt recovery; compulsory recovery of used capital at variance with regulations; compulsory recovery of the credit extension balance exceeding the limits;
b) Compulsory divestment in subsidiaries, associated companies; force sale of shares in excess of the prescribed rates; compulsory transfer of shares or contributed capital; compulsory reinstatement of transferred shares;
c) Compulsory provisioning of funds in accordance with law provisions; Compulsory compliance with the safety ratio within 6 months at most; compulsory asset classification and risk reserve provisioning; compulsory refund of used risk provisions in contravention of regulations, transfer of debts settled by on-balance-sheet provisions risk reserve provisions in accordance with law provisions; compulsory annulation without delay of internal regulations against related laws; strictly compulsory compliance with law provisions on banking information technology safety; compulsory continuous satisfaction of all conditions for certificates of eligibility for providing credit information services;
d) Forcible return/recovery of entrusted assets to the trustors; compulsory return without delay of collected insurance premiums and paid insured sums; compulsory restoration of the original state of debts before conducting debt purchase and sale;
dd) Compulsory correction without delay of false information; compulsory submission of complete and accurate reports; Compulsory payment without delay of missing insurance premiums;
e) Compulsory stamping and/or punching of counterfeit cashes;
g) Compulsory destruction of allexhibits and instruments serving the administrative violations;
h) Compulsory maintenance of the ratio of value of fixed assets directly serving the operation against the charter capital, of allocated capital against the reserve fund for supplementing charter capital and allocated capital according to regulations;
i) Compulsory publicization without delay of a copy of the certificate of deposit insurance participation; compulsory implementation of procedures for approving listing of stocks on foreign securities markets or suspending listing of stocks on foreign securities markets for violations;
k) No expansion of the scope, scale and area of operation is allowed until consequences of the violations are completely improved;
l) No dividends have been distributed for violations;
m) No contracts of payment via credit card are allowed with other credit card payment organizations;
n) Proposing or requesting the competent authority to consider and apply measures: revoking licenses; revocation of certificate of registration of foreign currency exchange agent; revocation of licenses for opening and using foreign currency accounts abroad; revocation of licenses for setting up individual foreign exchange desks; revocation of licenses for purchase and sale of gold bullions; suspension or dismissal of managerial, executive and controlling titles; prohibiting individuals committing violations and/or individuals responsible for such acts from holding administrative, executive or controlling titles at credit institutions or foreign bank branches, requesting credit institutions and foreign bank branches to remove and carry out other handling measures in accordance with law provisions against individuals committing violations under the jurisdiction of such credit institutions and foreign bank branches;
o) Replacing the elected and appointed persons or requesting the competent authorities to issue decisions to dismiss the elected or appointed persons who violate regulations.
Chapter II
ADMINISTRATIVE VIOLATIONS, PENALTY MEASURES
AND FINING RATES
Section 1
VIOLATIONS AGAINST PERMIT/LICENSE MANAGEMENT AND USE
Article 4. Violations against regulations onpermits/licenses issued by the State Bank
1. The fines of VND 20,000,000 to 40,000,000 shall be applied to misused names in operation-related documents, papers compared to those shown in the business permits/ licenses.
2. The fines of VND 40,000,000 to 50,000,000 shall be applied to the failure to meet the conditions for business opening as defined in Clause 2, Article 26 of the Law on Credit Institutions.
3. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
c) Permit/ license erasure, correction causing the content of the permit/ license to be changed but not being subject to criminal prosecution, unless otherwise regulated in Clause 4 of Article 27 herein;
4. The fines of VND 150,000,000 to 200,000,000 shall be applied to any of the following violations:
a) Fraudulent papers related to eligibility for licensing found in license application document but not being subject to criminal prosecution, unless otherwise regulated in Clause 2 of Article 19 herein;
b) Actual operation does not conform with the business scope defined in the permit/ license, unless otherwise regulated in Clause 6 of Article 17, Point o of Clause 4, Point c of Clause 8 of Article 23, Point c of Clause 5, Clause 6 of Article 24, Point c of Clause 4 of Article 27 herein.
5. The fines of VND 300,000,000 to 400,000,000 shall be applied to the continuing operation after being restricted or suspended permanently or temporarily by the competent authorities as defined in Point c of Clause 2 of Article 59 of the Law on State Bank of Vietnam.
6. The fines of VND 400,000,000 to 500,000,000 shall be applied to non-license operation, unless otherwise regulated in Point c, Clause 8 of Article 23, Clause 2 of Article 24, Clause 5 of Article 27 herein.
7. The following additional penalty measures shall be applied:
Confiscating the exhibits which are erased, corrected permits/licenses in case of violation as defined in Point c of Clause 3 of this Article.
8. The following consequence improvement measures shall be applied:
a) Submitting to the state fund the illegitimate benefits obtained from the violations defined in Clauses 3, 4, 5 and 6 of this Article;
b) Revoking permits/licenses by the competent authorities in case of the violations defined in Clauses 4 and 5 of this Article.
c) Violating individuals and/or those responsible for the violations defined in Clauses 3, 4, 5 and 6 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Article 5. Violations against regulations onthe changes which require written approval from the State Bank
1. The fines of VND 20,000,000 to 40,000,000 shall be applied to the banking activities conducted without prior confirmation from the State Bank.
2. The fines of VND 50,000,000 to 100,000,000 shall be applied to any of the following acts conducted without prior written approval from the State Bank.
a) Change of the name of a credit institution, branch of a foreign bank and/or a credit institution;
b) Temporary suspension of business for over 01 working day, unless the suspension is attributed to force majeure.
c) Establishment of domestic branches and transaction offices; establishment of domestic representative offices, service providers; branches, representative offices, banks with 100% foreign capital of credit institutions; opening of domestic branches and transaction offices.
3. The fines of VND 100,000,000 to 150,000,000 shall be applied to the share purchase, sale and assignment of contributed capital of a owner, share purchase, sale and assignment of contributed capital of a related contributor, share purchase, sale and assignment of a big shareholder, share purchase, sale and assignment that turns the big shareholder to a common one and vice versa without prior written approval from the State Bank.
4. The fines of VND 150,000,000 to 200,000,000 shall be applied on the amendment of registered capital, allocated capital without prior written approval from the State Bank.
5. The fines of VND 200,000,000 to 250,000,000 shall be applied on any of the following acts once prior written approval from the State Bank is not received.
a) Change of address of head office, transaction office, branch of credit institution, office of foreign bank branch;
b) Listing stocks on international stock markets.
6. The fines of VND 250,000,000 to 300,000,000 shall be applied on any of the following acts once prior written approval from the State Bank is not received.
a) Establishment, acquisition of a subsidiary, affiliated company as defined in Clauses 2 and 3 of Article 103 and Clause 3 of Article 110 of the Law on Credit Institutions;
b) Capitalizing, buying shares, assigning contributed capital, acquiring contributed capital from a credit institution as defined in Article 71, Point b of Clause 4 of Article 103 of the Law on Credit Institutions;
c) Involving in international payment system;
d) Acquiring a shareholder’s shares that the full payment for such results in decreased registered capital as defined in Article 57 of the Law on Credit Institutions.
7. The fines of VND 400,000,000 to 500,000,000 shall be applied on separation, splitting, incorporation, mergence, legal status amendment of a credit institution, foreign bank branch without prior written approval from the competent authorities.
8. The following consequence improvement measures shall be applied:
a) Suspension of dividend sharing until the registered capital is recovered in case of violations defined in Point d of Clause 6 of this Article.
b) Compulsory divestment of subsidiary, affiliated company in case of violations defined in Points a and b of Clause 6 of this Article;
c) Violating individuals and/or those responsible for the violations defined in Points b, Clause 5 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Section 2
VIOLATIONS AGAINST ORGANIZATION, ADMINISTRATION, MANAGEMENT
Article 6. Violations against regulations onadministration, management
1. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violations:
a) Violations against regulations on related to Management Board, Members’ Council, Inspection Committee as defined in Articles 43, 44, 62, Clause 1 of Article 70, Articles 81, 84 of the Law on Credit Institutions.
b) Failure of maintaining the eligibility related to the members of Management Board, Inspection Committee, General Director (Director) as required by the Law on Credit Institutions;
c) Failure of or improper organization of the General Shareholders’ Meeting as per related regulations.
2. The fines of VND 30,000,000 to 50,000,000 shall be applied to the voting for, appointment of the people not entitled to hold concurrent titles as regulated in Article 34 and Clause 3 of Article 83 of the Law on Credit Institutions.
3. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Voting for, appointment of the people not entitled to hold concurrent titles as regulated in Clauses 2, 3 of Article 33 of the Law on Credit Institutions;
b) Voting, appointment of ineligible people as regulated by related laws to hold the titles defined in Clause 5 of Article 50, Clause 2 of Article 75 of the Law on Credit Institutions.
4. The fines of VND 150,000,000 to 200,000,000 shall be applied to the voting, appointment of ineligible people to hold the titles defined in Clauses 1, 2, 3 and 4 of Article 50 of the Law on Credit Institutions.
5. The fines of VND 200,000,000 to 250,000,000 shall be applied to any of the following violations:
a) Voting, appointment of the people not entitled to hold the titles as regulated in Clause 1 of Article 33 of the Law on Credit Institutions.
b) Voting, appointment of the people not included in the list of expected personnel already approved by the State Bank.
6. The following consequence improvement measures shall be applied:
Related credit institution, foreign bank and/or its branch shall find other people to replace or request the competent authority to issue a decision on title removal of those voted, appointed improperly as regulated in Clauses 2, 3, 4 and 5 of this Article;
Article 7. Violations against regulations oninternal regulation issuance
1. The fines of VND 10,000,000 to 20,000,000 shall be applied to any of the following violations:
a) Failure of submitting to the State Bank one or more documents related to internal regulations in accordance with law provisions, unless otherwise regulated in Article 40 herein;
b) Failure of submitting to the State Bank the charter or the amended and/or supplemented charter of a credit institution as defined in Clause 3 of Article 31 of the Law on Credit Institutions.
c) Issuance of internal regulations with insufficient contents in accordance with law provisions
2. The fines of VND 40,000,000 to 80,000,000 shall be applied to any of the following violations:
a) Failing to issue one or some internal regulations in accordance with law provisions;
b) Issuing internal regulations against law provisions.
3. The following consequence improvement measures shall be applied:
Internal regulations issued against related laws and deduced from the violation as defined in Point b of Clause 2 of this Article shall be cancelled without delay.
Article 8. Violations against regulations oninternal auditing, internal inspection, independent auditing
1. The fines of VND 20,000,000 to 30,000,000 shall be applied to the failure of reporting internal auditing results, independent auditing results and internal inspection system reports as prescribed by law provisions.
2. The fines of VND 30,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Failing to select an independent auditing company as regulated in Clause 1 of Article 42 of the Law on Credit Institutions;
b) Failing to notify the State Bank on the selected independent auditing company within 30 days as defined in Clause 2 of Article 42 of the Law on Credit Institutions.
3. The fines of VND 80,000,000 to 100,000,000 shall be applied to any of the following violations:
a) Internal auditing fails to address the details defined in Clause 2 of Article 41 of the Law on Credit Institutions and related legal regulations;
b) Failing to audit by an independent auditing company as regulated in Clause 1 of Article 42 of the Law on Credit Institutions, failing to re-audit by a second independent auditing company in case the auditing report includes audit exceptions given by the related independent auditing company as regulated in Clause 3 of Article 42 of the Law on Credit Institutions.
c) Failing to supervise senior management, internal control, risk management and internal capital sufficiency analysis as prescribed by law provisions.
4. The fines of VND 100,000,000 to 150,000,000 shall be applied to the failure of establishing an internal auditing system under the Inspection Committee.
5. The fines of VND 200,000,000 to 250,000,000 shall be applied to the failure of establishing an internal auditing system as defined in Clauses 1, 2 of Article 40 of the Law on Credit Institutions.
Section 3
VIOLATIONS AGAINST SHARES, STOCKSAND CONTRIBUTED CAPITAL
Article 9. Violations against regulations onshares, stocksand limits on capital contribution, assignment and contributed capital refund
1. The fines of VND 50,000,000 to 100,000,000 shall be applied to any of the following violations:
a) A credit institution that fails to issue stocks in the form of stock certificates when they are required to do so within 30 days since its opening day in case of newly established organizations or since the day all payments are fully received from its shareholders for the committed shares in case of organizations that wish to increase the registered capital;
b) Founding shareholders fail to buy the required minimum number of shares in terms of share percentage and regulated buying time as defined in Clause 5 of Article 55 of the Law on Credit Institutions.
c) Violation against regulations on capital contribution limits, ownership percentages, assignment and refund of contributed capital by capital contributors as prescribed by law provisions.
2. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Share possession exceeds the percentage regulated in Clause 1, 2 and 3 of Article 55 of the Law on Credit Institutions;
b) Acquiring the shares from a shareholder in the way that puts the activities of related banks beyond the adequacy ratios as defined in Clause 1 of Article 130 of the Law on Credit Institutions when full payment for such shares is made.
c) Assigning shares at variance with Clause 4, Article 56 of the Law on Credit Institutions.
3. The following consequence improvement measures shall be applied:
a) The shares that cause adequacy ratios risk as per related regulations shall be compulsorily sold within 6 months maximum since the effective date of the related administrative penalty decision issued against the violation defined in Point a of Clause 2 of this Article;
b) Corrective measure to adhere to the adequacy ratios shall be carried out within 06 months maximum to remedy the violation as defined in Point b of Clause 2 of this Article;
c) Dividend sharing shall be suspended in case of the violations as defined in Clause 2 of this Article until the violations are completely rectified;
d) Violating individuals and/or those responsible for the violations defined in Clause 2 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Article 10. Violations against regulations oncapital contribution, share purchase
1. The fines of VND 100,000,000 to 150,000,000 shall be applied in the case other capital sources, but the registered capital and provisional fund, are used for capital contribution, share purchase, which is against the regulations defined in Clause 1 of Article 103, Clause 1 of Article 110 of the Law on Credit Institutions.
2. The fines of VND 150,000,000 to 200,000,000 shall be applied to the running of business operation as defined in Clause 2 of Article 103 of the Law on Credit Institutions without establishing or acquiring the related subsidiary and/or affiliated company.
3. The fines of VND 200,000,000 to 250,000,000 shall be applied to improper and ultra vires purchases and/or possession of the shares of other credit institutions as prescribed by the State Bank.
4. The fines of VND 250,000,000 to 300,000,000 shall be applied to any of the following violations:
a) Violations related to the restriction on capital contribution, share purchase as defined in Article 129 of the Law on Credit Institutions;
b) Violations against regulations on capital contribution, share purchase as defined in Article 135 of the Law on Credit Institutions.
5. The following consequence improvement measures shall be applied:
a) Confiscating the capital improperly used in case of violations defined in Clause 1 of this Article;
b) Assigning the improperly contributed capital, purchased shares in case of violations defined in Clause 4 of this Article;
c) Suspending dividend sharing in case of the violations defined in this Article until the violations are completely rectified;
d) Submitting to the state fund the illegitimate benefits obtained from the violations defined in Clauses 1, 2 and 3 of this Article;
dd) Restricting the expansion of business operation scope, scale and area when the related violation is not completely rectified in case of the violations defined in this Article;
e) Violating individuals and/or those responsible for the violations defined in Clauses 1, 2, 3, 4 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Article 11. Violations against regulations onoffer for sales and/or assignment of shares
1. The fines of VND 200,000,000 to 250,000,000 shall be applied to assignment of shares by holders of titles defined in Clause 1, Article 56 of the Law on Credit Institutions during their valid tenures
2. The fines of VND 250,000,000 to 300,000,000 shall be applied to the assignment of shares while violation consequences are being rectified as decided by the General Shareholders Committee or the State Bank by the violating individual who is a member of the Management Board, Inspection Committee, General Director (Director), unless otherwise regulated in Points a, b and c of Clause 2 of Article 56 of the Law on Credit Institutions.
3. The following consequence improvement measures shall be applied:
a) The assigned shares shall be recovered as prescribed in this Article within 6 months maximum since the effective date of the related administrative penalty decision;
b) Violating individuals and/or those responsible for the violations defined in Clauses 1, 2, 3, 4 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Section 4
VIOLATIONS AGAINST CAPITAL MOBILIZATION AND SERVICE FEES
Article 12. Violations against regulations ondeposits
1. The fines of VND 20,000,000 to 40,000,000 shall be applied to any of the following violations:
a) Failure of publishing or publicly posting the contents subject to public announcement or posting on the acceptance of deposits and issuance of valuable papers as prescribed by law provisions;
b) Acceptance of deposits and issuance of valuable papers in contravention of the contents already announced or publicly posted;
c) Acceptance and payment of deposits in contravention of the procedures prescribed by law provisions.
2. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Acceptance of deposits and issuance of valuable papers from the entities not entitled to deposit money or buy valuable papers as prescribed by law provisions.
b)Acceptance of deposits and issuance of valuable papers against related laws, unless otherwise regulated in Clause 1, Point a of Clause 2 herein;
Article 13. Violations againstregulations on interest rates for capital mobilization and fees for providing services, trading and/or offering derivative products
1. The fines of VND 10,000,000 to 20,000,000 shall be applied to any of the following violations:
a) Failing to post up capital mobilization interest rates and/or service fees in accordance with related regulations;
b) Unclear, misleading posting of the capital mobilization interest rates and/or service fees;
c) Improper collection of service fees as regulated by related laws unless otherwise prescribed in Point a of Clause 4 of Article 14, Point m of Clause 4 of Article 24 herein.
2. The fines of VND 20,000,000 to 40,000,000 shall be applied to the application of higher interest rates for capital mobilization, higher service fees than the posted rates.
3. The fines of VND 50,000,000 to 100,000,000 shall be applied to the violations against regulations on capital mobilization interest rates; trading and/or offering derivative products related to interest rate, currency, product price and other financial assets, except the violations defined in Clauses 1 and 2 of this Article and Point a of Clause 8 of Article 23 herein.
4. The following consequence improvement measures shall be applied:
a) Submitting to the state fund the illegitimate benefits obtained from the violations related to service fees as defined in this Clause;
b) Violating individuals and/or those responsible for the violations defined in Clause 3 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Section 5
VIOLATIONS AGAINST CREDIT LOANS, TRUSTEESHIP, ENTRUSTMENT AND INTER-BANKING ACTIVITIES
Article 14. Violations against regulations oncredit loaning
1. The fines of VND 10,000,000 to 15,000,000 shall be applied to any of the following violations:
a) Filing the credit loaning documents improperly as prescribed by related laws;
b) Issuing unconfirming guarantee letters following the templates designed by credit institutions, foreign bank branches.
c) Failing to publicly post information, failing to provide sufficient information and documents to customers as prescribed by law provisions.
2. The fines of VND 15,000,000 to 20,000,000 shall be applied to the failure of inspection, supervision of the use of loans and debt payments of the clients in accordance with related legal regulations.
3. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violations:
a) Preparing the credit loaning contracts with inadequate details as prescribed by related laws;
b) Exempting, reducing credit loan interest rates against the related laws;
c) Re-structuring the loan payment period against the related laws;
d) Applying improper credit loan interest rates as prescribed by related laws.
dd) Collecting overdue loan interests against the related laws;
e) Collecting overdue loan debts against the related laws.
4. The fine of between VND 30,000,000 to 40,000,000 shall be applied to any of following violations:
a) Collecting improper fees related to credit loaning activities as prescribed by related laws;
b) Enforcing improper disbursement measures as prescribed by related laws, except the violations defined in Point g, Clause 4 of Article 23 herein.
5. The fines of VND 40,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Offering a credit loan without related contract or written agreement;
b) Offering a credit loan to an ineligible organization and/or individual as prescribed in the related laws;
c) Offering a credit loan without guarantee, offering a credit loan under preferential conditions to an entity defined in Clause 1 of Article 127 of the Law on Credit Institutions;
d) Violations against regulations on credit loaning as defined in Clause 3 of Article 127 of the Law on Credit Institutions;
dd) Satisfying rejected loan demands against related laws;
e) Signing ultra vires guarantee agreements, guarantee commitments as prescribed in the related laws;
g) Factoring in one or some cases not entitled to be factored as prescribed in the related laws.
6. The fines of VND 80,000,000 to 120,000,000 shall be applied to any of the following violations:
a) Violations related to credit loaning as defined in Clause 2 and 4 of Article 127, Clauses 1, 2 and 8 of Article 128 of the Law on Credit Institutions;
b) Offering a credit loan in a different way without prior approval from the State Bank.
c) Violations against regulations on the maximum loans offered by credit institutions for offshore investment.
7. The fines of VND 12,000,000 to 180,000,000 shall be applied to the violations related to the limits and requirements for credit loaning to a commercial bank, foreign bank branch for their investment and trading of shares and/or enterprise stocks.
8. The fines of VND 250,000,000 to 300,000,000 shall be applied to the credit loaning to the organizations and/or individuals defined in Clauses 1, 3, 4, 5 and 6 of Article 126 of the Law on Credit Institutions.
9. The following consequence improvement measures shall be applied:
a) Credit loaning surplus exceeding the regulated limits, restriction levels shall be confiscated within 06 months maximum since the effective date of the related administrative penalty decision imposed on the violations defined in Point a of Clause 6, Clause 7 of this Article;
b) The loans obtained from the violations prescribed in Points b and dd of Clause 5, Point b of Clause 6, Clause 8 of this Article shall be confiscated within 06 months maximum since the effective date of the related administrative penalty decisions;
c) A big and/or founding shareholder who is related to the violations defined in Points b, c and d of Clause 5, Point a of Clause 6 of this Article shall compulsorily assign their shares, contributed capital in accordance with related legal regulations within 06 months maximum since the effective date of the related administrative penalty decisions;
d) Violating individuals and/or those responsible for the violations defined in Clause 5, Point a of Clause 6, Clauses 7 and 8 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Article 15. Violations against regulations ontrusteeship and entrustment
1. The fines of VND 80,000,000 to 100,000,000 shall be applied to any of the following violations:
a) Extending trusteeship to, entrusting ineligible entities as prescribed by related laws;
b) Establishing an entrustment contract against the related laws.
2. The fines of VND 100,000,000 to 150,000,000 shall be applied to ineligible trusteeships, entrustments as prescribed by related laws.
3. The following additional penalty measures shall be applied:
Entrustment activities of a violating credit institution, foreign bank branch shall be suspended for 01 to 03 months in case of violations as defined in this Article.
4. The following consequence improvement measures shall be applied:
a) Entrusted asset shall be compulsorily returned to/confiscated for the related entrustor in case of violations defined in this Article;
b) Violating individuals and/or those responsible for the violations defined in this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Article 16. Violations against regulations onpurchase of company bonds
1. The fines of VND 15,000,000 to 30,000,000 shall be applied to supervision failure regarding the use of collectibles from the issuance of company bonds.
2. The fines of VND 30,000,000 to 40,000,000 shall be applied to the contracts on company bond purchases which fail to include all regulated details as required by related laws.
3. The fines of VND 40,000,000 to 50,000,000 shall be applied to non-contractual purchase of company bonds.
4. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Evaluating, inspecting another company’s bond issuance plan and eligibilities to make decision on the purchase of such bonds while the buyer him/herself is ineligible for such purchase as prescribed by related laws;
b) Failing to evaluate, inspect a company’s bond issuance plan and eligibilities;
c) Violations against regulations onpurchase of a company’s convertible bonds;
d) Buying a company’s bonds to restructure its debts.
5. The following consequence improvement measures shall be applied:
a) The loans obtained from the violations prescribed in Clause 4 of this Article shall be confiscated within 01 year maximum since the effective date of the related administrative penalty decisions;
b) Violating individuals and/or those responsible for the violations defined in Clause 4 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Article 17. Violations related to inter-banking activities
1. The fines of VND 10,000,000 to 20,000,000 shall be applied to any of the following violations:
a) Illegitimately updating and storing the information related to loaning, borrowing; fixed-term trading of valued papers against related legal laws;
b) Failing to acknowledge the completed transactions as required by related regulations;
c) Establishing a loan contract and/or purchasing a valued paper improperly in terms of template and content as prescribed by related laws.
2. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violation acts:
a) Failing to adhere to the regulations on validity periods for loaning, borrowing, depositing, depositing acceptance and fixed-term trading of valued papers;
b) Failing to make payments for the transactions related to loaning, borrowing; depositing, depositing acceptance; fixed-term trading of valued papers in Vietnam dong through inter-bank e-payment system as regulated by related laws;
c) Failing to adhere to the regulated procedure on valued paper trading.
3. The fines of VND 30,000,000 to 40,000,000 shall be applied to performing loaning, borrowing at locations outside the head offices of foreign bank branches in Vietnam.
4. The fines of VND 40,000,000 to 60,000,000 shall be applied to any of the following violations:
a) Failing to adhere to the regulations on the requirements for involving in loaning, borrowing; fixed-term trading of valued papers with other credit institutions, foreign bank branches;
b) Failing to review, re-evaluate the clients as required by related regulations to re-determine the credit lines applicable the clients;
c) Failing to adhere to the regulations on information disclosure to the lenders for their evaluation of the clients and determination on the credit lines.
5. The fines of VND 80,000,000 to 120,000,000 shall be applied to fixed-term trading of various valued papers which are illegitimate for such trading.
6. The fines of VND 150,000,000 to 200,000,000 shall be applied to ultra vires borrowing, loaning, trading of valued papers in a foreign currency as prescribed with regard to the foreign exchange activities licensed by the State Bank.
7. The following consequence improvement measures shall be applied:
Violating individuals and/or those responsible for the violations defined in Clauses 5 and 6 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Section 6
VIOLATIONS AGAINST PROVISION OF CREDIT INFORMATION SERVICES
Article 18. Violations against regulations onthe eligibilities for provision of credit information services
1. The fines of VND 20,000,000 to 40,000,000 shall be applied to any of the following violations:
a) Failure of maintaining any of the requirements for being granted with licenses for providing credit information services.
b) Establishment of improper agreements and commitments in providing credit information services as prescribed by related laws;
c) Failure of publicizing information as prescribed by related laws.
2. The fines of VND 40,000,000 to 60,000,000 shall be applied to the fraudulence, faking of written proofs on eligibility for being granted with licenses for providing credit information services included in the license application document.
3. The fines of VND 200,000,000 to 250,000,000 shall be applied to providing credit information services without eligibility licenses for providing credit information services granted by the State Bank of Vietnam.
3. The following consequence improvement measures shall be applied:
a) Submitting to the state fund the illegitimate benefits obtained from the violations defined in Clauses 2, 3 of this Article;
b) Revoking the licenses for providing credit information services by the competent authority in case of the violations defined in Clauses 2, 3 of this Article.
c) Maintaining the requirements for being granted with licenses for providing credit information services in case of violations defined in Point a, Clause 1 of this Article.
Article 19. Violations against regulations oncredit information collection and/or processing
1. The fines of VND 20,000,000 to 40,000,000 shall be applied to any of the following violations:
a) Ultra vires collection of credit information as regulated by related laws;
b) Collecting credit information from the borrowers without prior agreement from them, unless as requested by the competent authorities.
c) Using negative information about borrowers to create credit information products against related laws;
d) Obstructing organizations’ and/or individuals’ legitimate credit information collection.
2. The fines of VND 40,000,000 to 80,000,000 shall be applied to intentional deviation of credit information content.
3. The fines of VND 80,000,000 to 100,000,000 shall be applied to illegitimate collection of the information which is within the Government’s confidentiality protection scope and/or included in the lists of confidential information.
4. The following additional penalty measures shall be applied:
a) Confiscating the instruments used to cause the violations as defined in Clause 3 of this Article;
b) Suspending provision of credit information services for 01 to 03 months in case of the violations defined in Clauses 2 and 3 of this Article.
5. The following consequence improvement measures shall be applied:
Immediately correcting the misinformation in case of the violations defined in Clause 2 of this Article.
Article 20. Violations against regulations oncredit information safety and/or storage
The fines of VND 20,000,000 to 40,000,000 shall be applied to any of the following violations:
1. Failure of issuing or carrying out the regulations and/or procedures on information technology security, safety related to provision of credit information services.
2. Failure of storing credit information of the borrowers for at least 05 years since the date the information is received by the related credit information service providers.
3. Failure of annually reviewing and evaluating the internal regulations on the appropriateness and compliance with the law provisions.
Article 21. Violations against regulations onproduct, service operation and/or use and credit information exchange and/or provision
1. The fines of VND 10,000,000 to 20,000,000 shall be applied to any of the following violations:
a) Illegitimate share and duplication of credit information products with a third party as prescribed by related laws;
b) Failing to warn information users of the use principles and/or scope of the provided credit information products.
2. The fines of VND 20,000,000 to 40,000,000 shall be applied to any of the following violations:
a) Amending credit information products to improperly provide them to a third party as prescribed by the related laws;
b) Sharing, exchanging credit information and providing credit information products without agreement with borrowers, against related laws;
c) Obstructing organizations’ and/or individuals’ legitimate credit information use.
d) Failing to publicly post the prices of credit information product services as prescribed in related laws.
3. The following additional penalty measures shall be applied: Revoking the provision of credit information services License (credit information service permit) for 01 to 03 months in case of the violations as prescribed in Clause 2 of this Article.
4. Consequence improvement measure shall be applied: Illegitimate benefits obtained from the violations defined in Point a of Clause 1 and Clause 2 of this Article shall be submitted to the state fund.
Article 23. Violations against regulations on error correctionof borrowers’ credit information.
The fines of VND 10,000,000 to 15,000,000 shall be applied to any of the following violations:
1. Failure of reconciliation of a borrower’s complaints or notification of correction results in accordance with law provisions;
2. Failing to carry out or coordinate in carrying out a borrower’s request for error correction of credit information in accordance with law provisions.
Section 7
VIOLATIONS AGAINST FOREIGN EXCHANGE AND GOLD TRADINGACTIVITIES
Article 23. Violations against regulations onforeign exchange activities
1. Warning shall be applied for any of the following violations:
a) Buying and selling foreign currencies between individuals, with the foreign currency purchased or sold of value at less than USD 1,000 (or other foreign currency of equivalent value);
b) Buying and selling foreign currencies at organizations not entitled to exchange foreign currencies, with the foreign currency purchased or sold of value at less than USD 1,000 (or other foreign currency of equivalent value);
c) Making payments for goods and services in foreign currencies of value at less than USD 1,000 (or other foreign currencies of equivalent value) against related laws.
2. The fines of VND 10,000,000 to 20,000,000 shall be applied to any of the following violations:
a) Buying and selling foreign currencies between individuals, with the foreign currency purchased or sold of value from USD 1,000 to under USD 10,000 (or other foreign currencies of equivalent value); buying and selling foreign currencies between individuals, with the foreign currency purchased and sold of value at less than USD 1,000 (or other foreign currency of equivalent value) in case of repeated violations;
b) Buying and selling foreign currencies at organizations not entitled to exchange foreign currencies, with the foreign currency purchased or sold of value from USD $1,000 to under USD $10,000 (or other foreign currencies of equivalent value); Buying and selling foreign currencies at organizations not entitled to exchange foreign currencies, with the foreign currency purchased or sold of value at l USD 1,000 (or other foreign currency of equivalent value) in case of repeated violations;
c) Making payments for goods and services in foreign currencies of value at less than USD 1,000 (or other foreign currencies of equivalent value) against related laws in case of repeated violations; Making payments for goods and services in foreign currencies of value from USD 1,000 to under USD 10,000 (or other foreign currencies of equivalent value) against related laws.
3. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violations:
a) Failing to publicly post the buying and selling rates of foreign exchange trading at the transaction location as regulated by the related laws;
b) Posting buying, selling exchange rates in unclear formats, with unclear details, causing misleading to the clients.
c) Failing to post and announce publicly exchange rates between Vietnam dong, foreign currencies and the conventional currenciesapplied to the companies running prize-winning electronic games targeting foreigners and casino companies; posting and announcing publicly the exchange rates between the conventional currencies and Vietnamese dong, foreign currenciesapplied to the companies running prize-winning electronic games targeting foreigners, casino companies against related laws;
d) Failing to comply with legal regulations on the registration and notification of the State Bank s branches in provinces and cities in case of changes related to foreign currency exchange agents;
dd) Failing to comply with legal regulations on notification and procedures for requesting the State Bank to approve amendment, supplementation and/or termination of contracts related to the provision of receipt and payment services in foreign currencies;
e) Failing to comply with legal regulations on procedures for requesting the State Bank to approve adjustment, amendment and supplementation of licenses for foreign currency receipt, payment and other foreign exchange transactions in case of name changes ofthe companies running prize-winning electronic games targeting foreigners, casino companies, organizations opening overseas foreign currency accounts;
g) Failing to comply with legal regulations on administrative procedures for: accepting foreign currency transfer abroad before investing; registration and change of registration for foreign loans, international bond issues; registration and change of registration for offshore loans, collection of guarantee debt for non-residents; registration and change of registration for foreign exchange transactions related to offshore investment activities; registration of bonus share program issued in foreign countries; registration of proprietary trading limit; registration of temporary proprietary trading limit; registration of trusteeship limits; registration of temporary trusteeship limits and other administrative procedures related to other capital transactions; administrative procedures for outward portfolio investments;
h) Buying and selling foreign currencies between individuals, with the foreign currency of value from USD 10,000 to under USD 100,000 (or other foreign currencies of equivalent value);
i)Buying and selling foreign currencies at organizations not entitled to exchange foreign currencies, with the foreign currency purchased or sold of value fromUSD 10,000 to under USD 100,000 (or other foreign currencies of equivalent value);
k)Making payments for goods and services in foreign currencies of valuefrom USD 10,000 to under USD 100,000 (or other foreign currencies of equivalent value) against related laws;
l) Buying and selling foreign currencies at variance with the exchange rates prescribed by the State Bank, except for the cases prescribed at Points d and m, Clause 4 of this Article; collecting foreign currency transaction fees against related laws.
4. The fines of VND 30,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Entering into a foreign exchange agent contract with an ineligible organization for such operation; failing to give guidance, inspect the related foreign exchange agent as prescribed by related laws;
b) Failing to fulfill the responsibilities of a foreign exchange agent as required by related legal regulations; acting as a foreign exchange agent for more than two credit institutions;
c) Making payments for negotiable instruments in a foreign currency against the regulations on foreign exchange activities defined in Article 9 of the Law on Negotiable Instruments and related legal regulations;
d) Failing to adhere to the legal regulations on VND account open and/or close to conduct any of activities related to: foreign investment into Vietnam; Vietnam’s investment into other countries; foreign loaning and/or foreign loan payment; international loaning and/or recovering foreign loans, international securities issuance related to organizations acting as residents; securities issuance in Vietnam related to organizations acting as non-residents and other capital transactions and other capital transactions;
dd) Exchange rates, commission and/or brokerage amounts in cash and/or in kind and any forms of promotion related to foreign currency trading that leads to increased exchange rates as compared to exchange rate limit prescribed by the related laws;
e) Acting as foreign currency payment agent for at least two economic organizations at the same time against related laws;
g) Capital withdrawal, payment of foreign loans; disbursement, recovery of international loans made from Vietnam; liability recovery with regard to non-residents; remittances related to foreign investment into Vietnam, Vietnam’s investment into other countries against the related laws;
h) Remitting, taking foreign currency, Vietnam dongout of and/or into Vietnam against the related legal regulations, except for customs-related administrative violations.
i) Authorizing or re-authorizing economic organizations or credit institutions to act as foreign currency payment agentsagainst the related laws;
k) Failing to comply with legal regulations on opening, closing and using of foreign currency specialized accounts in the provision of foreign currency receipt and payment services;
l) Failing to perform properly the responsibilities of credit institutions, economic organizations acting as foreign currency payment agents, economic organizations directly receiving and paying foreign currencies in updating accounting books and keeping vouchers in compliance with law provisions:
m) Failing to comply with legal regulations on collection and application of payment exchange rates in the provision of foreign currency receipt and payment services;
n)Transactions, quotations, valuation, pricing indicated in contracts, agreements, postings, goods price advertisements, services, land use rightsand other similar forms (including conversion or adjustment of the prices of goods and services, the value of contracts or agreements)in a foreign currencywhich fail to conform to the related laws;
o) Failing to comply with the contents prescribed in the license for setting up personal foreign exchange desk.
5. The fines of VND 80,000,000 to 100,000,000 shall be applied to any of the following violations:
a) Opening, closing, using foreign currency accounts opened overseas against the related legal regulations;
b) Providing payment, remittance services related to foreign loans, loaning amounts, foreign loan recovery, sponsorship with regard to non-residents, foreign investment into Vietnam, Vietnam’s investment into other countries and other capital transactions against the related legal regulations;
c) Carrying out foreign exchanges pertaining to the conventional currencies at improper exchange rates as prescribed by related legal regulations applied to the companies running prize-winning electronic games targeting foreigners, casino companies.
d) Failing to comply with legal regulations on opening, closing, and using foreign currency specialized accountsapplied to the companies running prize-winning electronic games targeting foreigners, casino companies;
dd) Failing to remit the amount of foreign currency cash in excess of the fund balance into a specialized foreign currency account opened at an authorized bank in case of foreign currency revenue in cash ofcompanies running prize-winning electronic games targeting foreigners, casino companiesin excess of the fund balance as prescribed in related laws;
e) Buying and selling foreign currencies between individuals, with the foreign currency purchased or sold of value at more than USD 100,000 (or other foreign currencies of equivalent value);
g)Buying and selling foreign currencies at organizations not entitled to exchange foreign currencies, with the foreign currency purchased or sold of valueat more than USD 100,000 (or other foreign currencies of equivalent value);
h)Making payments for goods and services in foreign currencies of valueat more than USD 100,000 (or other foreign currencies of equivalent value) against related laws.
6. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Improper credit loaning or local loan payment in a foreign currency against the related legal regulations, unless otherwise regulated in Article 14 herein.
b) Failing to sell collected foreign currencies to the credit institutions as prescribed by related laws, unless otherwise regulated in Point b of Clause 5 of this Article.
7. The fines of VND 150,000,000 to 200,000,000 shall be applied to any of the following violations:
a) Failing to adhere to the legal regulations on foreign loan borrowing and/or payment; loaning, foreign loan recovery; sponsorship with regard to non-residents and other capital transactions, except for the violations defined in Point g of Clause 3, Points d and g of Clause 4 and Point b of Clause 5 of this Article;
b) Carrying out improper foreign exchange transactions among credit institutions and between credit institutions and their clients as prescribed by the State Bank, unless otherwise regulated at Point a, Clause 8 of this Article;
c) Failing to comply with foreign currency status as prescribed in related laws.
8. The fines of VND 200,000,000 to 250,000,000 shall be applied to any of the following violations:
a) Trading, providing derivatives related to exchange rates, foreign currencies against the related laws;
b) Exporting, importing cash foreign currencies against to the related laws.
c) Foreign exchange activities conducted without a license granted by the competent authority or with an expired or suspended license, or that fails to operate in accordance with the license, unless otherwise regulated at Points d, o of Clause 4, Points a, d of Clause 5 of this Article.
9. The following additional penalty measures shall be applied:
a) Confiscating the loans obtained from the violations prescribed in Clause 2, Points h, i and k of Clause 3, Point h of Clause 4, Points e, g and h of Clause 5, Point b of Clause 6 of this Article;
b) Revoking foreign currency exchange agent registration certificates for 01 to 03 months in case of violation prescribed at Point b, Clause 4 of this Article;
c) Revoking licenses for foreign currency collection and payment and other foreign exchange transactionsapplied to the companies running prized electronic games targeting foreigners and casino companiesfor 03 to 06 months in case of violations prescribed at Points d and dd, Clause 4 of this Article (for contents not subject to adjustment of licenses);
d) Revoking licenses for setting up personal foreign exchange desks for 01 to 06 months in case of violations prescribed at Point o, Clause 4 of this Article;
d) Suspending foreign exchange activities for 03 to 06 months of credit institutions and foreign bank branches committing violations prescribed at Point c, Clause 8 of this Article.
10. The following consequence improvement measures shall be applied:
Foreign exchange agent Licenses and/or official written approvals on the open and use of foreign currency bank account at foreign banks shall be revoked by the competent authorities in case of relapse of the violations defined in Point b of Clause 4 and Point a of Clause 5 of this Article.
Article 24. Violations against regulations ongold trading
1. Warning shall be applied to any of the following violations:
a) Non-license trading of gold bullions by credit institutions or companies;
b) Using gold as a payment instrument;
2. The fines of VND 10,000,000 to 20,000,000 shall be applied to any of the following violations:
a) Non-license trading of gold bullions by credit institutions or companies in case of relapse or repeated violations;
b) Using gold as a payment instrument in case of relapse or repeated violations.
3. The fines of VND 30,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Failing to publicize the buying, selling prices of gold bullions at the transaction locations;
c) Responsibility-related violations committed by a credit institution, company running gold bullion trading in case of changes on network of branches, business location as regulated by related laws;
4. The fines of VND 80,000,000 to 100,000,000 shall be applied to any of the following violations:
a) Trading gold against the related legal regulations, unless otherwise regulated in Point a of Clause 8 of this Article;
b) Taking along gold when entering, exiting Vietnam against the related legal regulations, except for customs-related administrative violations;
5. The fines of VND 140,000,000 to 180,000,000 shall be applied to any of the following violations:
a) Trading gold bullions through authorized agents;
b) Failing to adhere to the related laws on gold status;
c) Export, importing gold jewelries and/or handicrafts; raw material gold in the forms of powder, solution, scraps, solubilized compound and gold jewelry semi-products against the business registration certificate or company License;
dd) Using illegitimate gold bullions as prescribed in the related laws.
6. The fines of VND 200,000,000 to 250,000,000 shall be applied to making improper use of imported raw material gold as prescribed in the related import permit for producing gold jewelries and/or handicrafts.
7. The fines of VND 250,000,000 to 300,000,000 shall be applied to the production of gold bullions against the related laws.
7. The fines of VND 300,000,000 to 400,000,000 shall be applied to any of the following violations:
a) Trading gold bullions without related trading license;
b) Exporting or importing raw material gold without permit issued by the competent authorities as required by the related laws;
c) Other gold trading activities without permits from the competent authorities as required by the related laws.
9. The following additional penalty forms shall be applied:
a) Confiscating the gold obtained from the violations defined in Point a, c of Clause 8 of this Article;
b) The license for gold bullion trading shall be suspended for 6 to 9 months in case of the first offense of the violations prescribed in Point a of Clause 5 of this Article.
9. The following consequence improvement measures shall be applied:
Gold bullion trading Licenses shall be revoked by the competent authorities in case of relapse of the violations defined in Point a of Clause 5 of this Article;
Section 8
VIOLATIONS AGAINST CURRENCY AND FUND MANAGEMENT AND/OR PAYMENT
Article 25. Violations against regulations oninter-banking activities
1. The fines of VND 10,000,000 to 20,000,000 shall be applied to any of the following violations:
a) Failing to adhere to the regulations on arrangement for clearing, clearing, inter-bank payment;
b) Failing to return the erroneous payment documents within the working day, excluding force majeure;
c) Delayed payment remittance to the receiver’s bank account later than the regulated time;
d) Delayed dispatch of deposit documents as per related regulation.
2. The fines of VND 20,000,000 to 40,000,000 shall be applied to any of the following violations:
a) Failing to return immediately the Credit Transfer Orders legitimately rejected; rejecting the Debit Transfer Orders legitimately authorized;
b) Assigning an unauthorized person to initiate, send transactions through the clearing system, inter-bank payment system.
3. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Hindering the operation of clearing and/or inter-bank payment systems;
b) Disclosing, whether unintentionally or intentionally, the information not entitled for disclosure related to inter-bank payment system.
Article 27. Violations against regulations onpayment activities
1.The fines of VND 3,000,000 to 5,000,000 shall be applied to improper corrections, erasures found in the payment instruments, payment proofs but not to the extent of being prosecuted for penal liability.
2. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violations:
a) Failing to response to the clients’ requests for checking and review, complaints as prescribed by the related laws.
b) Providing unreliable information when involving in the payment services.
3. The fines of VND 10,000,000 to 15,000,000 shall be applied to any of the following violations:
a)Failing to comply to the related laws in terms of payment time, remittance time, except for payments between credit institutions and the State Bank;
b) Violations against the regulations on notification and posting of payment service fees and card service fees.
4. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violations:
a) Providing unreliable information during the provision of payment services.
b) Signing the payment orders ultra vires or using e-signatures of other people;
c) Opening, using and authorizing the use of the payment accounts improperly as prescribed by the related laws when involving in the payment services;
5. The fines of VND 40,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Leasing and/or lending from 01 to less than 10 payment accounts;
b) Forging proofs when involving in the payment services but not to the extent of being prosecuted for penal liability.
6. The fines of VND 60,000,000 to 100,000,000 shall be applied to any of the following violations:
a) Improper account opening for clients, improper use of the payment accounts as prescribed by the related laws during the provision of payment services;
b) Leasing and/or lending more than 10 payment accounts;
c) Forging payment instruments, keeping, transferring and/or using fake payment instructions but not to the extent of being prosecuted for penal liability;
d) Issuing, providing and/or using illegitimate payment instruments but not to the extent of being prosecuted for penal liability.
7. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Accessing or effortfully accessing and/or stealing data, sabotaging and/or illegitimately changing the software applications, electronic database used for payment; taking advantage of an error of a computer network system for profiteering;
b) Opening or maintaining anonymous and/or impersonate payment accounts.
c) Using payment accounts to conduct transactions for fraudulent purposes.
8. The fines of VND 150,000,000 to 200,000,000 shall be applied to violations against the regulations on payment in cash.
9. The following additional penalty forms shall be applied:
Confiscating the exhibits, instruments serving the violations defined in Clause 1, Point b of Clause 5, Points c, d of Clause 6 of this Article.
10. The following consequence improvement measures shall be applied:
a) Submitting to the state fund the illegitimate benefits obtained from the violations defined in Clauses 1, 4, 5, 6, 7 and 8 of this Article.
b) Restricting the expansion of business operation scope, scale and area when violations have not been completely rectified in case of violations as defined in Points a, c, d of Clause 6 and Article 8 of this Article;
Article 27. Violations against regulations on payment intermediate services
1. The fines of VND 5,000,000 to 10,000,000 shall be applied to any of the following violations:
a)Providing unreliable information duringthe use and provision of intermediate payment services;
b) Failing to response to the clients’ requests for checking and review, complaints as prescribed by the related laws.
c) Violations against the regulations on instruments for the State Bank to supervise the provision of electronic wallet services.
2. The fines of VND 15,000,000 to 20,000,000 shall be applied to any of the following violations:
a) Violation against the regulations on payment guarantee account;
b) Providing credit to clients using electronic wallets, paying interest on electronic wallet balance or any acts that may increase the monetary value on electronic wallets compared to the value of money deposited by clients in electronic wallets;
c) Violations against the regulations on depositing money in and withdrawing money from electronic wallets;
d) Failing to perform the responsibility to require a client to open a payment account at a bank before using electronic wallet services.
3. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violations:
a) Improperly providing, disclosing the information related to the deposits at the intermediate payment servicing organizations as prescribed by laws;
b) Renting, leasing, borrowing, lending electronic wallets or trading information related to from 01 to less than 10 electronic wallets.
4. The fines of VND 40,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Forging certificates of eligibility for providing payment intermediate services in the application for licensing but not to the extent of being prosecuted for penal liability;
b) Forging, erasing or modifying the contents of the licenses but not to the extent of being prosecuted for penal liability; transfer, lease, or loan of the license to provide intermediate payment services; entrust and assign agents to other organizations and individuals to conduct activities permitted under the operation license of providing intermediate payment services;
c) Operating against the contents prescribed in the intermediate payment service licenses;
d) Renting, leasing, borrowing, lending electronic wallets or trading information related to more than 10 electronic wallets.
dd) Forging proofs during the provision of intermediate payment services but not to the extent of being prosecuted for penal liability.
5. The fines of VND 150,000,000 to 250,000,000 shall be applied to non-licensing provision of intermediate payment services.
6.The following additional penalty forms shall be applied:
Confiscating the exhibits, instruments serving the violations defined in Points b and dd of Clause 4 of this Article.
7.The following consequence improvement measures shall be applied:
a) Submitting to the state fund the illegitimate benefits obtained from the violations defined in Clause 2, Point b of Clause 3, Clauses 4 and 5 of this Article.
b) Revoking the licenses for providing credit information services by the competent authority in case of the violations defined in Points a, b, c of Clause 4 of this Article.
Article 28. Violations against regulations onbank card activities
1. Warning shall be applied to any of the following violations:
a) Failure of inspecting, maintenance of automated teller machines.
b) Failing to update amended information on the erection, location change, servicing time, operation termination of an automated teller machines on the monitoring system or official website of the payment servicing organizations;
2. The fines of VND 10,000,000 to 15,000,000 shall be applied to any of the following violations:
a) Failing to report the information on the erection, location change, operation termination of an automated teller machines as prescribed by laws;
b) Failing to ensure adequate servicing hours of an automated teller machines as prescribed by laws;
c) Failing to maintain the operation of the custom support department for the clients to contact at any time;
d) Failing to supervise the remaining cash in an automated teller machines, or fill the machine with cash to meet the withdrawal demands of the clients as demanded in related regulations; failing to meet the limit requirements for a single withdrawal at an automatic teller machine as prescribed by laws;
dd) Failing to meet the technical requirements on software and transmission applied to automated teller machines as prescribed by the related laws.
3. The fines of VND 15,000,000 to 20,000,000 shall be applied to the failure to meet the requirements on transaction log of automatic teller machines as prescribed by laws.
4. The fines of VND 20,000,000 - 30,000,000 shall be applied to the failure of assuring safety, confidentiality for the operation of an automated teller machine.
5. The fines of VND 30,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Violations related to payment card currency;
b) Discriminative pricing for automated teller machine card payments, collection of additional fees in payment transactions carried out by automated teller machine card owners.
c) Renting, leasing, buying, selling automated teller machine cards or automated teller machine card information, opening for other people (except for anonymous prepaid cards) from 01 to less than 10 cards.
6. The fines of VND 50,000,000 to 100,000,000 shall be applied to any of the following violations:
a) Renting, leasing, buying, selling automated teller machine cards or automated teller machine card information, opening for other people (except for anonymous prepaid credit cards) more than 10 cards not to the extent of being prosecuted for penal liability.
b) Hacking, collusively hacking automated teller machine card information of more than 10 cards
c) Improperly issuing, making payments with automated teller machine cards against the related laws;
d) Failing to refuse to make payments with automated teller machine cards for conducting legally prohibited transactions or with the cards which have been reported lost, expired or locked by the cardholders.
7. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Usingautomated teller machine cardsto conduct transactions for fraudulent purposes;
b) Clearingautomated teller machinecard transactions against the related laws;
c) Transferring devices that accept cards and QR Codes to other users; accepting card payments without a card payment contract; unauthorizedly using devices that accept cards, QR Codes;
d) Implementing, organizing or facilitating other people to conduct fraudulent and forged card transactions; non-card payment transactions (without purchase of goods and provision of services).
8. The following additional penalty forms shall be applied:
Confiscating the exhibits, instruments serving the violations defined in Point c of Clause 5, Point a of Clause 6, Points a, c, d of Clause 7 of this Article.
9. The following consequence improvement measures shall be applied:
a) Submitting to the state fund the illegitimate benefits obtained from the violations defined in Points c, dd of Clause 5, Points a, b of Clause 6 and Clause 7 of this Article;
b) Prohibiting the signing of any automated teller machine card payment contract with other automated teller machine card organizations when violations have not been completely rectified in case of the violations defined in Point b of Clause 5 of this Article.
Article 29. Violations against regulations onnegotiable instruments
1. The fines of VND 15,000,000 to 20,000,000 shall be applied to the act of ultra vires signing negotiable instruments.
2. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violations:
a) Failing to adhere to the regulations on the duties of the bill-of-exchange acceptors as defined in Article 2 of the Law on Negotiable Instruments.
a) Improperly collecting payment through collectors as prescribed in Clauses 1, 2 and 3 of Article 39 of the Law on Negotiable Instruments.
3. The fines of VND 30,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Assigning a negotiable instrument when such instrument has known to be expired or rejected, rejected for payment or reported to be lost as defined in Clause 4 of Article 15 of the Law on Negotiable Instruments;
b) Drawing a cheque in the state of insolvency.
4. The fines of VND 60,000,000 to 120,000,000 shall be applied to any of the following violations:
a) Forging signature on a negotiable instrument;
b) Failing to adhere to the regulations on printing, receiving and delivering, managing blank cheques as defined in Clauses 2 and 3 of Article 64 of the Law on negotiable instruments.
5. The following additional penalty forms shall be applied:
Confiscating the exhibits, instruments serving the violations defined in Clause 4 of this Article.
6. The following consequence improvement measures shall be applied:
Illegitimate benefits obtained from the violations defined in Point b of Clause 5 and Clause 4 of this Article shall be submitted to the state fund.
Article 30. Violations against regulations oncurrency and fund management
1. Warning shall be applied to any of the following violations:
a) Failing to publicize the regulation on exchange of ineligible monetary notes issued by the State Bank at the business location;
b) The loss of template monetary notes caused by related receiving entities; failing to issue template monetary notes to the entitled entities; failing to retrieve template monetary notes after the notice on circulation suspension of such notes is issued or as requested.
c) Failing to open or fully record all types of books related to treasury safety activities as prescribed by laws.
2. The fines of VND 5,000,000 to 10,000,000 shall be applied to any of the following violations:
a) Refusing to exchange ineligible monetary notes for the clients in demand;
b) Failing to adhere to the regulations on classification, packaging, forwarding precious metals and/or stones; packaging, sealing, forwarding, retaining, transporting, stocktaking cash, valuable assets, valued papers, unless otherwise regulated in Point a of Clause 3 and Points b, c, d and dd of Clause 5 of this Article.
3. The fines of VND 10,000,000 to 15,000,000 shall be applied to any of the following violations:
a) Failing to issue and post the regulations on accessing a money vault, cash counter; internal and external cash transaction procedure applied to the clients;
b) Failing to plan for money vault guarding and/or protection;
c) Failing to issue fire prevention and fighting regulations, plans for a money vault;
d) Failing to select, classify the monetary notes ineligible for circulation.
4. The fines of VND 15,000,000 to 20,000,000 shall be applied to the failure of installing the safety protection, fire prevention and fighting equipment at a money vault as prescribed by the related laws.
5. The fines of VND 20,000,000 to 40,000,000 shall be applied to any of the following violations:
a) Carrying out currency exchange against the related laws;
b) Failing to ensure good protection of cash, valuable assets, valued paper during noon break as prescribed by related laws;
c) Improper management and protection of the key of a money vault, storage compartment, safe, money deposit box in the specialized vehicle against the related legal regulations;
d) Transporting cash, valuable assets, valued papers with unspecialized vehicle without written procedure issued by the competent authorities regarding the transportation, protection, safety measures of the said assets;
dd) Failing to issue written regulations on the requirements, receiving and delivery procedure of the clients’ assets, responsibilities of the related departments regarding asset protection while they perform asset management and/or protection services, safe lease and other fund-related services.
6. The fines of VND 40,000,000 to 80,000,000 shall be applied to any of the following violations:
a) Improperly managing a money vault in terms of technical structure and standards as regulated by the related laws;
b) Improperly managing the door of a money vault as per regulated technical requirements defined in the related laws.
Article 31. Violations against regulations onthe protection ofVietnam’s monetary notes
1. Warning shall be applied to any of the following violations:
a) Failing to give timely notification to the competent authorities of new counterfeit monetary notes;
b) Failing to give timely notification to the competent authorities of the storage, circulation and/or transportation of presumably counterfeit monetary notes;
c) Appointing untrained staff on the skills of detecting counterfeit monetary notes to handle the tasks of a cashier, treasurer or monetary transaction operator.
d) Failing to hand over counterfeit money as prescribed by laws.
2. The fines of VND 5,000,000 to 10,000,000 shall be applied to any of the following violations:
a) Discovering counterfeit monetary notes but failing to collect and suspend them;
b) Discovering presumably counterfeit monetary notes but failing to detain them;
c) Failing to minute or collect and detain counterfeit monetary notes, without stamping, punching as regulated by the State Bank regarding disciplinary measures on the fake notes, presumably fake notes collected or detained.
3. The fines of VND 10,000,000 to 15,000,000 shall be applied to the acts of illegitimately sabotaging and/or ruining Vietnam’s monetary notes.
4. The fine of VND 40,000,000 to 80,000,000 shall be applied to illegitimate copy, printing, use of the layout of, pictures, patterns, either partially or wholly, on Vietnam’s monetary notes against the related legal regulations.
5. The following additional penalty forms shall be applied:
Confiscating the exhibits and/or instruments serving the violations defined in Clause 2, 3, and 4 of this Article and handing them to the competent authorities for disciplinary measures.
6. The following consequence improvement measures shall be applied:
a) Stamping, punching the counterfeit monetary notes in accordance with the regulations issued by the State Bank on counterfeit and/or alleged counterfeit monetary notes in case of the violation defined in Point c of Clause 2 of this Article.
b) Destroying all exhibits, instruments serving the violations as defined in Clause 4 of this Article;
c) Submitting to the state fund illegitimate benefits obtained from the violations defined in Clause 4 of this Article.
Section 9
VIOLATIONS AGAINST FIXED ASSET PURCHASE, INVESTMENT AND REAL ESTATE TRADINGOF CREDIT ORGANIZATIONS AND FOREIGN BANK BRANCHES
Article 32. Violations against regulations onfixed asset purchase and/or investment
1. The fines of VND 100,000,000 to 150,000,000 shall be applied to violations on the purchase and/or investment into fixed assets for direct business use which cost over 50% of the registered capital and provisional fund for such registered capital in case of credit institutions, or over 50% of allocated fund and provisional fund for the said allocated fund in case of foreign bank branches.
2. The following consequence improvement measures shall be applied:
a) Maintaining the value percentage of the fixed assets for direct business use against the registered capital and/or allocated fund and provisional funds for the mentioned registered capital and/or allocated fund for 6 months maximum since the effective date of the related administrative penalty decisions, in accordance with the regulation defined in Article 140 of the Law on Credit Institutions in case of the violation defined in Clause 1 of this Article;
b) Submitting to the state fund the illegitimate benefits obtained from the violations defined in Clause 1 of this Article;
Article 33. Violations against regulations onreal estate trading
1. The fines of VND 200,000,000 to 250,000,000 shall be applied to real estate trading activities, unless otherwise regulated in Clauses 1, 2 and 3 of Article 132 of the Law on Credit Institutions.
2. The following consequence improvement measures shall be applied:
Illegitimate benefits obtained from the violations defined in Clause 1 of this Article shall be submitted to the state fund.
Section 10
VIOLATIONS AGAINST OPERATION SAFETYOF CREDIT ORGANIZATIONS AND FOREIGN BANK BRANCHES
Article 34. Violations against regulations onreserve requirements, purchase of compulsory State Bank bills
1. Warning shall be applied to any of the following violations:
a) Failing to ensure adequate reserve requirements as required by the related laws.
b) Failing to comply with the regulations on purchase of compulsory State Bank bills.
2. The fines of VND 10,000,000 to 20,000,000 shall be applied to the failure toensure adequate reserve requirementsas prescribed by laws in case of relapse or repeated violations.
3. The following consequence improvement measures shall be applied:
Violating individuals and/or those responsible for the violations defined in Clause 2 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Article 35. Violations against regulations onprudential ratios
1. The fines of VND 200,000,000 to 220,000,000 shall be applied to the violations against the laws related to any of the following prudential ratios:
a) Highest percentage of the short-term capital for medium and long-term loans;
b) Lending outstanding debt ratio against total deposit;
c) Ratio of medium, long-term deposits against total outstanding debt for medium, long-term loans.
2. The fines of VND 250,000,000 to 300,000,000 shall be applied to the violations against legal regulations on solvency ratios.
3. The fines of VND 400,000,000 to 450,000,000 shall be applied to the violations related to minimum capital adequacy ratios as regulated by the related laws.
4. The following consequence improvement measures shall be applied:
a) Adhering to the regulated prudential ratios within 6 months maximum since the effective date of the related administrative penalty decision issued against the violation defined in Clauses 1,2 and 3 of this Article;
b) Restricting the expansion of business operation scope, scale and area and additional business line supplementation during the period violations have not been rectified in case of the violations defined in Clauses 1,2 and 3 of this Article;
c) Violating individuals and/or those responsible for the violations defined in Clauses 2 and 3 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Article 36. Violations against regulations onthe classification of assets, off-balance sheet commitments, provisioning and use of provisions for risk control
1. The fines of VND 150,000,000 to 200,000,000 shall be applied to any of the following violations:
a) Improper classification of the assets, off-balance sheet commitments against the related laws;
b) Establishing improper provisions against the related laws, except for the provisions established against the related laws due to the violation prescribed in Point a, Clause 1 of this Article;
c) Making improper use of the provisions against the related laws;
d) Failing to set forth comprehensive and/or hardline debt recovery measures for the debts backed by provisions for risk control.
2. The following consequence improvement measures shall be applied:
a) Classifying the assets, provisions; refunding improperly used amounts of provisions, the debt backed by on-balance provisions for risk control as prescribed by the related laws within 01 month maximum since the effective day of the related administrative penalty decisions imposed on the violations defined in Clause 01 of this Article;
b) Violating individuals and/or those responsible for the violations defined in Clause 01 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Article 37. Violations against regulations onfund establishment and use of funds
1. The fines of VND 20,000,000 to 40,000,000 shall be applied to improper establishment or use of funds against the related legal regulations.
2. The following consequence improvement measures shall be applied:
Setting up regulated funds required by the related laws within 15 days since the effective day of the related administrative penalty decision imposed on the violated defined in Clause 01 of this Article.
Section 11
VIOLATION RELATED TO DEPOSIT INSURANCE
Article 38. Violations against regulations ondeposit insurance
1. Warning shall be applied to any of the following violations:
a) Failing to publicize copies of the deposit insurance certificates at the locations of deposit transactions;
b) Inadequate or untimely payment of the deposit premiums as prescribed by the related laws.
c) Violating the time limit for submitting the application for deposit insurance participation certificate as prescribed in Clause 1, Article 14 of the Law on Deposit Insurance.
2. The fines of VND 30,000,000 to 40,000,000 shall be applied to the failure of deposit premiums as prescribe by the related laws.
3. The fines of VND 40,000,000 to 60,000,000 shall be applied to payment of deposit insurance to the related depositor against the schedule as prescribed in Article 23 of the Law on deposit insurance.
4. The fines of VND 60,000,000 to 80,000,000 shall be applied to any of the following violations:
a) Insuring the un-insured deposits as regulated in Article 19 of the Law on deposit insurance;
b) Cheating, counterfeiting documents, materials, papers related to deposit insurance.
5. The fines of VND 60,000,000 to 80,000,000 shall be applied to any of the following violations:
a) Failing to pay or make inadequate payment of the policy proceeds;
b) Hindering, causing difficulties and/or damages to legitimate entitlements and interests of deposit insurance organizations, the deposit insurance policyholders who are organizations, the deposit insured, and the companies and/or organizations related to deposit insurance;
c) Abusing titles, entitlements to commit legal violations on deposit insurance.
6. The following consequence improvement measures shall be applied:
a) Immediately publicizing copies of the deposit insurance certificates in case of the violations defined in Point a of Clause 1 of this Article;
b) Immediately paying the unpaid balance premium in case of the violations defined in Point b of Clause 01 of this Article and paying the fine for delayed payment of 0.05% of the delayed amount as regulated in Clause 01 of Article 21 of the Law on deposit insurance;
c) Immediately refunding the collected premiums and/or instantly withdrawing the paid policy proceeds in case of the violations defined in Point a of Clause 4 of this Article;
d) Violating individuals and/or those responsible for the violations defined in Point b of Clause 4 and Points a and c of Clause 5 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Section 12
VIOLATIONS RELATED MONEY LAUNDERING AND TERRORISM PREVENTION AND FIGHTING
Article 39. Violations against regulations on client information identification and updating
1. The fines of VND 20,000,000 to 30,000,000 shall be applied to the failure of updating the client identity information as prescribed in Articles 8 and 10 of the Law on Prevention of Money Laundry andthe Law on Anti-terrorism.
1. The fines of VND 20,000,000 to 30,000,000 shall be applied to the failure to ensure the confidentiality of information, reports and documents as prescribed in Article 29 of the Law on Prevention of Money Laundry andthe Law on Anti-terrorism.
Article 40. Violations against regulationson internal regulations on prevention of money laundering
The fines of VND 60,000,000 to 100,000,000 shall be applied to the following violations:
a) Failing of issuing the risk management procedures for new-technology-based transactions as prescribed in Article 15 of the Law on Prevention of Money Laundry.
2. Failing of developing regulations on classification of clients by risks as prescribed in Clause 1, Article 12 of theLaw on Prevention of Money Laundry.
3. Failing of issuing internal regulations or issuing internal regulations which lack one or some contents as prescribed in Article 20 of theLaw on Prevention of Money Laundry.
Article 41. Violations against regulations on the classification of clients by risks
1. The fines of VND 30,000,000 to 50,000,000 shall be applied to the failure of applying the measures on client identification, intensive evaluation as prescribed in Clauses 2, 3 and 4 of Article 12 of the Law on Prevention of Money Laundry and Article 34 of the Law on Anti-terrorism.
2. The fines of VND 50,000,000 to 100,000,000 shall be applied to the failure of setting forth client identification regulations, classifying clients by money laundering and terrorist risk levels as prescribed by the related laws.
Article 42. Violations against regulations on the identification of foreign clients who are politics influencers
The fines of VND 100,000,000 to 150,000,000 shall be applied to the omission of risk management systems to identify the foreign clients who are politics influencers as prescribed in Clauses 2 and 3 of Article 13 of the Law on money laundering prevention and combat.
Article 43. Violations against regulations on internal audit for prevention of money laundering, client review, transactions and relations with agent banks
1. The fines of VND 20,000,000 to 40,000,000 shall be applied to the failure of reviewing the clients and related parties named in blacklists before establishing relationships with them or providing banking services to them.
2. The fines of VND 40,000,000 to 80,000,000 shall be applied to any of the following violations:
a) Failing to adhere to the measures defined in Article 14 of the Law on money laundering prevention and combat before entering into the relationship as an agent bank of a foreign bank counterpart;
b) Failing to report to the competent authorities of the involvement with clients and related parties named in the blacklists as prescribed by the related laws.
c) Failing to conduct internal audit for prevention of money laundering as prescribed by laws.
Article 44. Violations against regulations on the regulation on reporting the high-valued transactions, questionable transactions, e-remittance transactions, money laundering for terrorism financing
1. The fines of VND 20,000,000 to 30,000,000 shall be applied to the failure of submitting timely reports as required in Article 23 of the Law on Prevention of Money Laundry.
2. The fines of VND 30,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Failing to report high-valued transactions;
b) Failing to report questionable transactions;
c) Failing to report e-remittance transactions.
3. The fines of VND 80,000,000 to 100,000,000 shall be applied to the failure of reporting money laundering acts for terrorism financing as required in Article 30 of the Law on Prevention of Money Laundry.
4. The fines of VND 150,000,000 to 200,000,000 shall be applied to the failure of placing special supervision on irregularly high-valued or complicated transactions; involving in the transactions with organizations and/or individuals located in the countries, territories named in the anti-money-laundering or warning lists informed by the Financial Action Task Force as prescribed in Article 16 of the Law on Prevention of Money Laundry.
Article 45. Violation against regulations on bank account transaction delay, account freezing; asset freezing and detention
1. The fines of VND 40,000,000 to 80,000,000 shall be applied to any of the following violations:
a) Failing to report on the delay of transactions with the blacklisted parties or the transactions alleged to be related to the violations defined in Clause 3 of Article 33 of the Law on Prevention of Money Laundry;
b) Failing to report the acts of asset freezing and/or detention as a result of the issuance of related decision from the competent authorities as prescribed in Article 34 of the Law on Prevention of Money Laundry.
c) Failing to report without delay upon the suspension of circulation and freezing of all money and properties related to terrorist financing.
2. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Failing to delay the transactions related to the parties named in the blacklists or those alleged to be related to the violations defined in Clause 1 of Article 33 of the Law on Prevention of Money Laundry;
b) Failing to freeze the bank accounts and/or freeze or detain the assets which are so decided by the competent authorities as prescribed in Article 34 of the Law on Prevention of Money Laundry.
c) Failing to suspend the circulation and freeze all money and properties related to terrorist financing without delay.
Article 46. Violations against regulations on prohibited acts related to money laundering prevention and/or combat
1. The fines of VND 30,000,000 to 60,000,000 shall be applied to the acts of hindering the provision of information to support money laundering prevention and combat tasks.
2. The fines of VND 100,000,000 to 150,000,000 shall be applied to any of the following violations:
a) Opening or sustaining anonymous bank accounts or the accounts with false names;
b) Providing illegitimate monetary services related to cash, cheques, other monetary instruments or valuable monetary retention instruments and payment to the beneficiaries at different locations.
3. The fines of VND 200,000,000 to 250,000,000 shall be applied to any of the following violations:
a) Arranging or facilitating money laundering;
b) Establishing and maintaining business relationship with a bank located in a country or territory where one’s business is not actually situated, and such business is not under the control and/or supervision of the related competent authorities.
c) Failing to denounce acts of terrorist financing;
d) Abusing the suspension of circulation, freezing, sealing, temporary seizure and handling of money and property related to terrorist financing to infringe upon the interests of the State, legitimate rights and interests of agencies , organizations and individuals.
4. The following consequence improvement measures shall be applied:
a) Violating individuals and/or those responsible for the violations defined in Clauses 2 and 3 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, inspection titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Section 13
VIOLATIONS AGAINST REGULATIONS ON COMMUNICATION, REPORTING
Article 47. Violations against regulations on reporting, information management and provision
1. The fines of VND 5,000,000 to 10,000,000 shall be applied to any of the following violations:
a) Violating regulations on the time limit and the requirements of sufficiency and accuracy of the under-01-month periodical statistical reports for more than two times in a fiscal year;
b) Submitting required reports behind schedule regulated by the related law, unless otherwise prescribed in Point a of this Clause, Points a, c of Clause 5 and Clause 01 of Article 44 herein;
c) Failing to retain, protect required documents, materials for a sufficient period of time in accordance with the related laws, unless otherwise regulated in Point a of Clause 1 of Article 14 herein;
d) Reporting inaccurate datafor more than two times in a fiscal year, unless otherwise regulated in Point b of Clause 5 of this Article.
2. The fines of VND 10,000,000 to 15,000,000 shall be applied to the failure of submitting reports inadequately or the submitted reports are inadequately detailed as regulated by the related law; unless otherwise regulated in Clauses 2 and 3 of Article 44, Clause 01 of Article 45 herein.
3. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violations:
a) Failing to register the amendments with the competent authorities as defined in Point b of Clause 4 of Article 29 of the Law on Credit Institutions;
b) Failing to publicizing the changed procedural details as defined in Points a, b, c and d of Clause 01 of Article 29 of the Law on Credit Institutions on the information media of the State Bank and a daily newspaper, in 3 successive publications, or an e-newspaper of Vietnam within 7 working days since the date the related approval is received from the State Bank.
4. The fines of VND 30,000,000 to 40,000,000 shall be applied to any of the following violations:
a) Unreliable reports;
b) Providing the information related to the activities of the State Bank, credit institutions, foreign bank branches without prior approval from the competent authorities as prescribed in the related laws or without prior acceptance from the related clients, unless otherwise defined in Articles 13 and 14 of the Law on Credit Institutions;
c) Failing to provide information, documents and/or materials as required by the related laws;
d) Failing to ensure confidentiality of the information, reports as defined in Article 29 of the Law on money laundering prevention and combat.
5. The fines of VND 40,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Submitting the reports on credit information indicators to the State Bank behind schedule;
b) Reporting imprecise, inadequate or technically improper credit information indicators in an untimely manner to the State Bank;
c) Failing to report the required credit information to the State Bank (Vietnam Credit Information Center) as regulated by the State Bank regarding provision of credit information services;
d) Failing to provide summary reports on international remittance transactions as required by the related laws.
6. The fines of VND 50,000,000 to 100,000,000 shall be applied to any of the following violations:
a) Failing to immediately report the risk of insolvency to the competent authorities;
b) Failing to provide the information requested by the State Bank and competent governmental agencies as regulated in Clause 4 of Article 18 of the Law on money laundering prevention and combat.
7. The following consequence improvement measures shall be applied:
a) Missing reports with precise details shall be submitted in case of the violations defined in Clause 2 and Point a of Clause 4 of this Article;
b) Restricting the expansion of business operation scope, scale and area and additional business line supplementation during the period violations have not been rectified in case of the violations defined in Point a of Clause 4, Point a of Clause 6 of this Article;
c) Violating individuals and/or those responsible for the violations defined in Point a of Clause 6 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, controlling titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Section 14
VIOLATIONS RELATED TO INSPECTION HINDRANCE, INCONFORMITY AGAINST COMPETENT OFFICERS
Article 48. Violations against regulations on inspection hindrance, inconformity against competent officers
1. The fines of VND 2,000,000 to 3,000,000 shall be applied to the acts of hindering and/or causing difficulties to the inspection carried out by the competent governmental officers.
2. The fines of VND 5,000,000 to 10,000,000 shall be applied to the elusion from the inspection carried out the competent governmental officers.
3. The fines of VND 10,000,000 to 20,000,000 shall be applied to the failure of providing information, documents, e-data to the Inspection Teams or competent officers.
4. The fines of VND 20,000,000 to 30,000,000 shall be applied to any of the following violations:
a) Failing to provide documents, proofs, data adequately as requested by the Inspection Team;
b) Unilaterally removing, relocating or performing other acts that change the initial sealing status of: Stores, funds, safes, accounting records and/or proofs, credit loan documents or sealed and/or detained exhibits;
c) Failing to freeze a bank account, cancel the freezing of a bank account as requested by the competent officers in accordance with the related laws.
5. The fines of VND 30,000,000 to 50,000,000 shall be applied to any of the following violations:
a) Providing incorrect documents, data;
b) Illegitimately intervening the settlement of an issue carried out by the competent authority and Inspectors of the banking industry;
c) Concealing, correcting proofs, records or exchanging exhibits during the inspection period.
6.The fines of VND 50,000,000 to 100,000,000 shall be applied to any of the following violations:
a) Transferring capital and assets to foreign countries after being frozen;
b) Failing to deposit capital and assets into the State Bank or credit institutions requested by the State Bank after being frozen;
c) Failing to freeze capital and assets of foreign bank branches at the request of the State Bank.
Article 49. Violations against regulations on the duties of bank inspectors
1. The fines of VND 5,000,000 to 10,000,000 shall be applied to any of the following violations:
a) Failing to provide the information requested by the State Bank in a timely manner, with adequacy and precision;
b) Failing to give advices, cautions to the State Bank regarding operation risks and safety;
c) Failing to report, provide explanations on the advices, warnings related to operation risks and safety given by the State Bank.
2. The fines of VND 80,000,000 to 120,000,000 shall be applied to the unconformity to inspection conclusions, recommendations, disciplinary decisions.
3. The following consequence improvement measures shall be applied:
Violating individuals and/or those responsible for the violations defined in Clause 2 of this Article shall be considered for suspension of and/or suspended for 01 to 03 months or removed from the administration, managerial, controlling titles they are holding; be prevented from holding such titles at credit institutions, foreign bank branches, by the competent authorities.
Related credit institutions, foreign bank branches shall be requested to remove their violating individuals from the titles they are holding and apply other disciplinary measures on them in accordance with the related laws.
Section 15
VIOLATIONS AGAINST REGULATIONS ON BUYING, SELLING AND HANDLING DEBTS
Article 50. Violations against regulations on debt purchase and sale of credit institutions
1. The fines of VND 50,000,000 to 80,000,000 shall be applied to acts of failing to set up Debt purchase and sale councils when buying and selling debts.
2. The fines of VND 80,000,000 to 100,000,000 shall be applied to any of the following violations:
a) Selling debts used to secure other civil obligations, unless the secured party agrees in writing on the debt sale;
b) Debt seller repurchases their sold debts, unless otherwise regulated in Article 148d of the Law on Credit Institutions amended and supplemented in 2017.
3. The following additional penalty forms shall be applied:
Suspension of debt purchase and sale activities for a period of 03 to 06 months in case of violations prescribed in Clause 1 of this Article.
4. The following consequence improvement measures shall be applied:
Compulsory restoration of the debt status quo prior as before the debts are purchased and sold in case of violations prescribed in Clause 2 of this Article.
Article 51. Violations against regulations on purchase, sale and handling of non-performing loans of Vietnam Asset Management Company
1. The fines of VND 5,000,000 to 10,000,000 for any of the following violations:
a) Managing purchased non-performing loans and inspecting, supervising collaterals related to such non-performing loans against related laws;
b) Authorizing credit institutions and inspecting, supervising the performance of authorized activities against related laws;
c) Taking measures to restructure debts and provide financial support to borrowers against related laws;
d) Contributing capital, buying shares against related laws;
d) Establishing and using risk provisions to handling purchased non-performing loans at market value against related laws.
2. The fines of VND 10,000,000 to 15,000,000 for any of the following violations:
a) Buying and selling non-performing loans against related laws;
b) Handling collaterals of purchased non-performing loans against related laws.
3. The fines of VND 15,000,000 to 20,000,000 shall be applied to violations on conducting activities authorized by the Vietnam Asset Management Company against related laws after the debts are sold.
Section 16
VIOLATIONS AGAINST REGULATIONS ON INFORMATION TECHNOLOGY SAFETY IN BANKING ACTIVITIES
Article 52. Violations against regulations on information technology safety in banking activities
1. The fines of VND 10,000,000 to 20,000,000 for any of the following violations:
a) Failing to assess information technology risks and operational risks before using information technology services of third parties as prescribed by laws;
b) Failing to perform security assessment for information systems providing online trading services to clients before putting them into official operation.
2. The fines of VND 20,000,000 to 30,000,000 for any of the following violations:
a) Failing to disseminate or update the organization s information security regulations for all individuals in the organization at least once a year;
b) Failing to perform or insufficiently making backups to ensure data safety as prescribed by laws;
c) Failing to deploy network security solutions to control network connections, detect and prevent network intrusion attacks for information systems providing online trading services to client;
d) Failing to authenticate clients accessing services when providing banking services on the Internet as prescribed by laws;
dd) Failing to instruct customers to take measures to ensure information safety and security when they use Internet banking services;
e) Failing to keep logs of information systems and users, arising errors and information security incidents as prescribed by laws.
3. The following additional penalty forms shall be applied:
Suspending the use of information technology services provided by third parties for a period from 01 month to 03 months in case of the violations at Point a, Clause 1 of this Article.
4. The following consequence improvement measures shall be applied:
Complying with law provisions on information technology safety in banking activities.
Chapter III
COMPETENCE RELATED TO ADMINISTRATIVE VIOLATION PENALTIES AND ADMINISTRATIVE VIOLATION MINUTING
Article 53. Competence regarding administrative violation penalties
1. While performing their duties, the banking inspectors are entitled to:
a) Give warnings;
b) Imposing fines up to VND 500,000;
c) Confiscating the exhibits, instruments serving administrative violations valued up to VND 500,000;
2. Chief Inspectors - Supervisors of the State Bank branches are entitled to:
a) Give warnings;
b) Imposing fines up to VND 500,000;
c) Confiscating the exhibits, instruments serving the administrative violations valued up to VND 50,000,000;
d) Applying additional penalties and violation consequence improvement measures defined in Clauses 2 and 4 of Article 3 herein.
3. Director General of the Banking Supervision Agency of the State Bank is entitled to:
a) Give warnings;
b) Imposing fines up to VND 250,000,000;
c) Confiscating the exhibits, instruments serving the administrative violations valued up to ND 250,000,000;
d) Applying additional penalties and violation consequence improvement measures defined in Clauses 2 and 4 of Clause 3 herein.
4. Chief Bank Inspector - Supervisor is entitled to:
a) Give warnings;
b) Imposing fines up to VND 1,000,000,000;
c) Applying additional penalties and violation consequence improvement measures defined in Clause 2 and 4 of Article 3 herein.
5. Leader of an inspection team, appointed by the Governor or Chief Bank Inspector - Supervisor of the State Bank, is authorized to apply the penalties as defined in Clause 3 of this Article.
Leader of an inspection team, appointed by the Director of a provincial/municipal branch of the State Bank, Director General of the Banking Supervision Agency of the State Bank, Chief Inspectors - Supervisors of State Bank branches, is authorized to apply the penalties as defined in Clause 2 of this Article.
Article 54. Competence regarding administrative violation penalties in the field of currency and banking of other titles and agencies
1. The competence regarding administrative violations, additional penalties and violation consequence improvement measures of the President of the People s Committee shall comply with the provisions of Article 38 of the Law on Handling of Administrative Violations.
2. The competence regarding administrative violations, additional penalties and violation consequence improvement measures of the People s Public Security Forces shall comply with the provisions of Article 39 of the Law on Handling of Administrative Violations.
3. The competence regarding administrative violations, additional penalties and violation consequence improvement measures of the Border Guards shall comply with Article 40 of the Law on Handling of Administrative Violations.
4. The competence regarding administrative violations, additional penalties and violation consequence improvement measures of the Coast Guards shall comply with the provisions of Article 41 of the Law on Handling of Administrative Violations.
5. The competence regarding administrative violations, additional penalties and violation consequence improvement measures of Market surveillance authority shall comply with the provisions of Article 45 of the Law on Handling of Administrative Violations.
6. The competence regarding administrative violations, additional penalties and violation consequence improvement measures of the Tourist Inspectorate shall comply with the provisions of Article 46 of the Law on Handling of Administrative Violations.
7. The competence regarding administrative violations, additional penalties and violation consequence improvement measures of Customs shall comply with the provisions of Article 42 of the Law on Handling of Administrative Violations.
Article 55. Decentralization of competence regarding administrative violation penalties in the field of currency and banking
1. Competence regarding administrative violation penalties of presidents of People s Committees at all levels
a) Presidents of communal-level People s Committees shall impose penalties for administrative violations prescribed in Clause 1 of Article 23 and Clause 1 of Article 24 herein;
b) Presidents of district-level People s Committees shall impose penalties for administrative violations prescribed in Clauses 1 and 2, Points a, b, c, h, i, k, l of Clause 3, and Points h, o and n of Clause 4 of Article 23 and Clauses 1, 2 and 3 of Article 24 herein;
c) Presidents of provincial-level People s Committees shall impose penalties for administrative violations prescribed in Clauses 1 and 2, Points a, b, c, h, i, k, l, of Clause 3, points h, o and n of Clause 4, Points c, e, g, h of Clause 5, Point c of Clause 8 of Article 23, Clauses 1, 2, 3 and 4, Points a, c of Clause 5, Clauses 6, 7 and 8 of Article 24, and Point c of Clause 7 of Article 28 herein.
2. Competence regarding administrative violations of market surveillance agencies
a) Market surveillance officers shall impose penalties for administrative violations prescribed in Clause 1 of Article 23 and Clause 1 of Article 24 herein;
b) Leaders of Market surveillance teams shall impose sanctions on administrative violations prescribed in Clauses 1 and 2 of Article 23 and Clauses 1 and 2 of Article 24 herein;
c) Directors of provincial-level Market surveillance departments and the Director of the Department of Market Management under the General Department of Market Surveillance shall impose penalties for administrative violations prescribed in Clauses 1 and 2, and Points a, b, h, i, k, l of Clause 3, Points n and o of Clause 4 of Article 23 and Clauses 1, 2, and Point a of Clause 3 of Article 24 herein;
d) The Director General of the General Department of Market Surveillance shall impose penalties for administrative violations prescribed in Clauses 1 and 2, Points a, b, h, i, k, l of Clause 3, and Points n, o of Clause 4, Points e, g, h of Clause 5, Point c of Clause 8 of Article 23, Clauses 1, 2, Point a of Clause 3, Point a of Clause 4, Clauses 6, 7, Points a and c of Clause 8 of Article 24 herein.
3. Competence regarding administrative violation penalties of the Border Guards
a) Border guard soldiers, chiefs and heads of border guard soldiers shall impose penalties for administrative violations prescribed in Clause 1 of Article 23 and Clause 1 of Article 24 herein;
b) Heads of Border Guard posts, captains of Border Defense Force Flotillas, Commanders of Port Border Gate Commands shall impose penalties for administrative violations prescribed in Clauses 1 and 2 of Article 23 and Point 1 of Clause 2 of Article 24 herein;
c) Commanders of the provincial-level Border Guard Commands and Commanders of the Border Defense Force Squadrons attached to the Border Guard High Command will impose penalties for administrative violations prescribed in Clauses 1, 2, and points h, i, k of Clause 3, Point h of Clause 4, Points e, g and h of Clause 5 of Article 23, Clauses 1, 2 and 4 of Article 24 herein.
4. Competence regarding administrative violation penalties of the Coast Guards
a) Coast Guard officers and heads of Coast Guard professional groups shall impose penalties for administrative violations prescribed in Clause 1 of Article 23 and Clause 1 of Article 24 herein;
b) Heads of Coast Guard professional teams and heads of Coast Guard Stations shall impose penalties for administrative violations prescribed in Clause 1, Article 23 and Clause 1, Article 24 herein;
c) Captains of Coast Guard flotillas shall impose penalties for administrative violations prescribed in Clauses 1 and 2 of Article 23 and Clauses 1 and 2 Article 24 herein;
d) Captains of Coast Guard squadrons shall impose penalties for administrative violations prescribed in Clauses 1, 2, Points h, i, k of Clause 3 Article 23, Clauses 1 and 2 of Article 24 herein;
d) Commanders of Regional Coast Guards shall impose penalties for administrative violations prescribed in Clauses 1 and 2, Points h, i and k, Clause 3, Article 23, Clauses 1 and 2, Article 24 herein;
e) Commander of the Coast Guard High Command shall impose penalties for administrative violations prescribed in Clauses 1 and 2, Points h, i, k of Clause 3, Point h of Clause 4, Points f, g and h of Clause 5 of Article 23, Clauses 1 and 2, Point a of Clause 4 of Article 24 herein.
5. Competent persons of the Public Security units shall impose penalties for administrative violations prescribed in Clauses 1 and 2, Points a, b, c, h, i, k and l of Clause 3, Points h, n, o of Clause 4, Points c, e, g, h of Clause 5, Point c of Clause 8 of Article 23; Clauses 1, 2, 3 and 4, Points a and c of Clause 5, Clauses 6, 7 and 8 of Article 24; Point b of Clause 2, Clauses 5, 6 and 7 of Article 26; Point a of Clause 1, Clauses 3, 4 and 5 of Article 27; Points c and d of Clause 5, Clauses 6 and 7 of Article 28; Articles 31, 46 and 48 herein.
6. Competence regarding administrative violation penalties of specialized Tourism Inspectorate
a) Inspectors and on-duty persons assigned to perform specialized inspection tasks shall impose penalties for administrative violations prescribed in Clause 1 of Article 23 herein;
b) Department-level chief inspectors and heads of provincial-level specialized inspection teams shall sanction acts of administrative violation prescribed in Clauses 1 and 2, Points a, b, c, h, i, k and l. Clause 3, Points b, n and o, Clause 4, Article 23 herein;
c) Heads of ministerial-level specialized inspection teams or ministerial-level chief inspectors shall impose penalties for administrative violation prescribed in Clauses 1 and 2, Points a, b, c, h, i, k, and l of Clause 3, Points b, n, o of Clause 4, Points f, g and h of Clause 5 of Article 23 herein.
7. Competence regarding administrative violation penalties of the Customs
The General Director of Customs shall impose penalties for administrative violations prescribed at Point of Clause 8 of Article 23, Point c of Clause 5, and Point b of Clause 8 of Article 24 herein.
8. The competence regarding administrative violation penalties of the Banking Inspection and Supervision agencies
Persons with competence of the Banking Inspection and Supervision agencies shall minute and impose penalties for and apply violation consequence improvement measures for administrative violations prescribed in Chapter II herein according to their assigned competence, functions, tasks and powers.
Article 55. Competence regarding administrative violation minuting
The following persons are competent to issue administrative violation minutes:
1. Persons competent to impose penalties administrative violations as defined in Articles 53 and 54 herein;
2. Persons of the People s Army and the People s Public Security Forces in the bodies as defined in Article 54 herein performing official duties or tasks assigned in legal or administrative documents promulgated by competent authorities; Captains of aircrafts, ships and vessels and persons assigned the duties to minute violations by such captains;
3. Banking public employees performing the duties or tasks assigned in legal or administrative documents promulgated by competent agencies or persons.
Chapter IV
PROVISIONS OF IMPLEMENTATION
Article 53.Effect
This Decree takes effect as of 31 December 2019 and supersedes Government’s Decree No.96/2014/ND-CP dated October 17, 2014 on penalties for administrative violations against currency and banking legal regulations.
Article 54. Transitional stage
1. In case administrative violations related to currency and banking activities that have taken place before the effective date herein but discovered after that, however, they are still in penalty enforcement period or being reviewed and/or processed, the penalty regulations which are advantageous to the violating organizations and/or individuals shall be applied.
2. In case of the administrative violation penalty decisions related to currency and banking activities that have been issued or enforced before the effective date herein but still been complained by the violating individuals and/or organizations, the regulations defined in Government’s Decree No.96/2014/ND-CP dated October 17, 2014 on penalties for administrative violations against currency and banking legal regulations shall be applied.
Article 55. Implementation responsibilities
Governor of the State Bank, Ministers, Heads of ministerial agencies and government-attached agencies, Chairpersons of the provincial/municipal People’s Committees shall be responsible for implementing this Decree./.
| ON BEHALF OF GOVERNMENT |
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