National Assembly adopted revised Law on Money Laundering Prevention and Control, thrift practice resolution: The plenary sitting of the National Assembly on November 15, 2022. (Photo: VNA)

The revised Law on Money Laundering Prevention and Control won the votes of 483 among the 488 legislators present at the plenary sitting, part of the 15th National Assembly’s fourth session.

It consists of four chapters with 66 articles and will take effect on March 1, 2023.

The Law stipulates measures for preventing, detecting, and dealing with organisations or individuals involved in money laundering; the responsibility of agencies, organisations, and individuals towards money laundering prevention and control; and international cooperation in this regard.

The fight against the money laundering that aims at sponsoring terrorism or the proliferation of weapons of mass destruction will also be conducted in accordance with this law, as well as criminal law and legal rules on prevention and combat of terrorism and proliferation of weapons of mass destruction.

Meanwhile, the Resolution on promoting the implementation of policies and law on thrift practice and wastefulness prevention received support from 487 of the 488 legislators.

It stated that a campaign on thrift practice and wastefulness control will be launched nationwide from 2023.

The Government will organise an emulation movement on thrift practice and wastefulness prevention in production and consumption activities at all levels, in all sectors, and among the public in a practical and effective manner. It will also make timely commendations and rewards while expanding role models in the task, according to the resolution.

The Resolution also identifies some general orientations, tasks, and solutions for the work.