Suspicious Indicators in the Banking Sector
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Sudden, unusual changes in transaction volume on an account; rapid inflows and outflows; high daily transaction volume but with very small or zero account balances.
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Multiple small-value transfers from various accounts into one account or vice versa within a short period; funds being moved through multiple accounts; parties involved show no concern about transaction fees; numerous transactions are conducted, each just below the reportable threshold.
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Use of letters of credit and other trade finance methods with unusually large values, or discount rates significantly higher than normal.
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A customer opens multiple accounts at credit institutions or foreign bank branches located in areas different from their place of residence, employment, or business activities.
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A customer’s account suddenly receives a deposit or transfer of unusually large value.
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Large amounts of money are transferred overseas from a business account after receiving multiple small transfers via electronic transfers, checks, or drafts.
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A foreign-invested enterprise transfers funds abroad immediately after receiving investment capital, or transfers funds abroad inconsistent with its business activities; a foreign investor transfers funds abroad immediately after receiving incoming transfers into an account opened at a credit institution or foreign bank branch operating in Vietnam.
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A customer frequently exchanges small-denomination currency for large-denomination currency.
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Deposits, withdrawals, or transfers are conducted by organizations or individuals linked to criminal activities that generate illicit assets, as reported in mass media.
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A customer requests to borrow the maximum permissible amount secured by a single-premium life insurance policy immediately after paying the premium.
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Information on the origin of assets used by a customer for financing, investment, lending, or entrusted investment is unclear or non-transparent.
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Information on the origin of collateral assets provided by a customer seeking a loan is incomplete or inaccurate.
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Signs suggest a customer is using a personal account to conduct transactions related to the activities of an organization, or to transact on behalf of another individual.
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Online transactions through an account show continuous changes in login devices or Internet Protocol (IP) addresses located abroad.
Legal Basis:
Article 28, Law on Anti-Money Laundering 2022.
