VI
Compliance Statements
Vietcombank Statements on Anti-Money Laundering,
Counter-Terrorism Financing and Sanctions
Anti-Money Laundering, Counter-Terrorism Financing & Sanctions
FATCA
Anti-Money Laundering, Counter-Terrorism Financing & Sanctions
FATCA
Missions
The General Conditions on Personal Data Protection are developed in order to comply with the applicable laws of Vietnam regarding the protection of personal data.
Descriptions
The General Conditions on Personal Data Protection will include the following:
- Type of Personal Data that Vietcombank processes and how Vietcombank processes Personal Data;
- Purpose of the processing of Personal Data;
- Organizations and individuals involved in the processing of Personal Data;
- Trang bị hệ thống công nghệ thông tin hỗ trợ hiệu quả cho hoạt động phòng chống rửa tiền, chống tài trợ khủng bố và cấm vận;
- Instructions on how Personal Data Subjects can exercise their rights and obligations in relation to Personal Data.
Commitments
- Vietcombank processes and protects Personal Data in accordance with Vietnamese law; fully comply with these General Trading Conditions and other contracts, agreements and documents entered into with the Personal Data Subject;
- Vietcombank collects Personal Data for specific, clear and lawful purposes, within the purposes stated in these General Transaction Conditions and in accordance with the provisions of Vietnamese law;
- Vietcombank always applies and updates technical measures in accordance with Vietnamese law to ensure the data security of Personal Data, including safeguards against unauthorized access or unlawful and/or destruction, loss, damage to Personal Data;
- Vietcombank stores Personal Data appropriately and to the extent necessary for processing purposes in accordance with Vietnamese law;
Vietcombank is committed to complying with the following principles when processing Personal Data:
In addition to the above principles, Vietcombank is committed to complying with regulations related to data protection of children and ensuring compliance with legal regulations on data protection from time to time.
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MissionsThe General Conditions on Personal Data Protection are developed in order to comply with the applicable laws of Vietnam regarding the protection of personal data.
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Descriptions
The General Conditions on Personal Data Protection will include the following:
- Type of Personal Data that Vietcombank processes and how Vietcombank processes Personal Data;
- Purpose of the processing of Personal Data;
- Organizations and individuals involved in the processing of Personal Data;
- Trang bị hệ thống công nghệ thông tin hỗ trợ hiệu quả cho hoạt động phòng chống rửa tiền, chống tài trợ khủng bố và cấm vận;
- Instructions on how Personal Data Subjects can exercise their rights and obligations in relation to Personal Data.
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Commitments
- Vietcombank processes and protects Personal Data in accordance with Vietnamese law; fully comply with these General Trading Conditions and other contracts, agreements and documents entered into with the Personal Data Subject;
- Vietcombank collects Personal Data for specific, clear and lawful purposes, within the purposes stated in these General Transaction Conditions and in accordance with the provisions of Vietnamese law;
- Vietcombank always applies and updates technical measures in accordance with Vietnamese law to ensure the data security of Personal Data, including safeguards against unauthorized access or unlawful and/or destruction, loss, damage to Personal Data;
- Vietcombank stores Personal Data appropriately and to the extent necessary for processing purposes in accordance with Vietnamese law;
Vietcombank is committed to complying with the following principles when processing Personal Data:
In addition to the above principles, Vietcombank is committed to complying with regulations related to data protection of children and ensuring compliance with legal regulations on data protection from time to time.
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Documents
Introduction
- The Foreig Account Tax Compliance Act (FATCA) has been passed by the US Government in 2010, which took effect from 01 July 2014. The main purpose of the Act is to prevent tax evasion by US Individuals/Entities through financial accounts held at non-US financial institutions (FFIs).
- On 01 April 2016, the Government of Vietnam and the Government of the US signed an Intergovernmental Agreement to implement FATCA Model 1B (IGA 1B Agreement) in Vietnam. IGA 1B Agreement has been effective since 07 July 2016, according to which, all financial institutions in Vietnam, including Vietcombank, are required to comply with FATCA this Agreement.
- In light of regulations and guidances of the Government and State Bank of Vietnam, Vietcombank has registered as a Financial Reporting Institution and officially become compliant with FATCA under the IGA 1B Agreement.
- Under the requirements of the IGA 1B Agreement, Vietcombank will perform due diligence and annually report to the State Bank of Vietnam certain information related to the financial accounts held directly or indirectly by reportable US individuals and/or US entities.
Forms
Based on the information provided by the customer (Form 01a_FATCA or Form 02a_FATCA), if the customer is considered to be a Reportable US Person in accordance with the IGA 1B Agreement, please provide to us the completed FATCA forms and relevant supporting documents. Please refer to the following forms and instructions:
FATCA forms and related supporting documents should be completed, properly signed and sent to Vietcombank. Failure in completion of the required documents, the status of “Recalcitrant Account” could be assigned to the customer in our system, accordingly, relevant information of the customer’s financial accounts will be summarized and reported to the State Bank of Vietnam.
Notice
The information collected by Vietcombank will solely be used for the purpose of reporting to the State Bank of Vietnam in order to fully comply with the IGA 1B Agreement and related Vietnamese regulations and will not be used for any other purposes.
Documents
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Introduction
- The Foreig Account Tax Compliance Act (FATCA) has been passed by the US Government in 2010, which took effect from 01 July 2014. The main purpose of the Act is to prevent tax evasion by US Individuals/Entities through financial accounts held at non-US financial institutions (FFIs).
- On 01 April 2016, the Government of Vietnam and the Government of the US signed an Intergovernmental Agreement to implement FATCA Model 1B (IGA 1B Agreement) in Vietnam. IGA 1B Agreement has been effective since 07 July 2016, according to which, all financial institutions in Vietnam, including Vietcombank, are required to comply with FATCA this Agreement.
- In light of regulations and guidances of the Government and State Bank of Vietnam, Vietcombank has registered as a Financial Reporting Institution and officially become compliant with FATCA under the IGA 1B Agreement.
- Under the requirements of the IGA 1B Agreement, Vietcombank will perform due diligence and annually report to the State Bank of Vietnam certain information related to the financial accounts held directly or indirectly by reportable US individuals and/or US entities.
-
Forms
Based on the information provided by the customer (Form 01a_FATCA or Form 02a_FATCA), if the customer is considered to be a Reportable US Person in accordance with the IGA 1B Agreement, please provide to us the completed FATCA forms and relevant supporting documents. Please refer to the following forms and instructions:
- W-9: Individual is a US Citizen or Residents of the United States; or an organization incorporated in the United States (click here)
- W-8BEN: Individual with US indicia but not a US Citizen or US Resident (click here)
- W-8BEN-E: organization outside of the United States (click here)
- Other forms and specific instructions (click here)
FATCA forms and related supporting documents should be completed, properly signed and sent to Vietcombank. Failure in completion of the required documents, the status of “Recalcitrant Account” could be assigned to the customer in our system, accordingly, relevant information of the customer’s financial accounts will be summarized and reported to the State Bank of Vietnam.
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NoticeThe information collected by Vietcombank will solely be used for the purpose of reporting to the State Bank of Vietnam in order to fully comply with the IGA 1B Agreement and related Vietnamese regulations and will not be used for any other purposes.
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Documents