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    Vietnam, Malaysia fight money laundering

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    VNA 07/10/2009 - The State Bank of Vietnam (SBV) and the Negara Bank of Malaysia have agreed to cooperate in the fight against money laundering.

    Addressing the signing ceremony for a memorandum of understanding to this effect between the two banks in Hanoi on Oct. 7, SBV Deputy Governor Tran Minh Tuan said international cooperation is a necessary requirement in the fight against money laundering.

    Tuan said Vietnam in 2007 became a member of the Asia-Pacific group, committing to joining the international community in the fight against such crimes as well as the sponsorship of terrorism.

    “ Vietnam has exerted its efforts to promote cooperation and information exchange with other countries all over the world, especially those in the Asia-Pacific group, in the fight against money laundering,” Tuan said.

    The Deputy Governor said the Government’s Decree No. 74 promulgated in 2005 on the fight against money laundering is an important legal basis for the fight against this and related crimes in the country’s territory and also for international cooperation in the field.

    Acting as the Vietnamese government’s central agency in the effort, the SBV praised Malaysia ’s work to combat money laundering, and saw opportunities to expand cooperation and information exchange with the Malaysian central bank.

    Highlighting the remarkable results of cooperation between the two banks to date, Tuan expressed his hope that the new MoU would help broaden their joint efforts in information exchange and personnel training, thus facilitating the investigation and adjudication of money laundering crimes.

    Sharing his opinion, Negara Malaysia Bank Deputy Governor Dato Zamani Abdul Ghani said the MoU paved the way for the two banks’ long-term cooperation.

    He said it would serve as a legal basis for information exchange and also help build capacity and intensify experience sharing between the two countries on the issue./.