Vietnam’s central bank is ordering banks to report every domestic transfer of VND500 million or more starting this November to tighten its anti-money laundering oversight, according to a report by The Investor Vietnam.

The new rules also cover cross-border payments, requiring transactions of US$1,000 or higher to be reported to regulators.

Financial institutions have until the end of December to adapt their internal systems and processes before full compliance takes effect on January 1, 2026.

The State Bank of Vietnam (SBV) said the new measures are designed to bring the country’s banking system in line with international standards on anti-money laundering, counter-terrorism financing and preventing the funding of weapons proliferation.

By early 2026, banks and other financial service providers will need to deploy automated monitoring software capable of screening transactions against blacklists, watchlists and databases of politically exposed persons (PEPs) to flag suspicious activity.

The regulations also introduce stricter customs reporting thresholds for travelers.

Anyone carrying negotiable instruments, platinum, gemstones or other precious metals (excluding gold) worth VND400 million (about US$15,100) or more across borders must declare them at customs.

Existing rules on cash and gold declarations will remain unchanged.

The SBV has positioned these measures as a key step to bolster financial transparency and improve oversight of high-value transactions.

With the new framework, Vietnam aims to close loopholes in its banking system and reinforce its compliance with global anti-money laundering obligations.

Featured image: Edited by Fintech News Singapore, based on image by alidrian via Freepik