Ho Chi Minh City to combat laundering in real estate
PolicyThe Ho Chi Minh City Department of Construction (DoC) has asked real estate companies, brokers and trading floors in the city to strengthen preventive measures against money laundering and terrorist financing.
High-value property transactions must be reported
PolicyThe Ministry of Construction has told the local construction departments to force property traders and exchanges to report cash transactions of VND300 million or more. The move is part of efforts to fight money laundering.
Awareness of terrorist financing in real estates
PolicyOn May 31, in Hanoi, the Ministry of Construction organized a training program to raise awareness on anti-money laundering/terrorist financing and multilateral evaluation processes of APG (Asia - Thai Binh Duong Group chaired by Deputy Minister Nguyen Van Sinh - Member of the Central Steering Committee) on prevention and control of money laundering.
