Under the decree, to be effective Feb. 9, 2026, warnings will apply to buying or selling gold bars from unlicensed credit institutions or enterprises, or using gold as payment.
Repeated or multiple offences carry fines of VND10–20 million (US$380-760). The same range applies to failing to route gold transactions through required payment accounts.
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A person holds a gold ring in a jewelry store in HCMC. Photo by VnExpress/Quynh Tran |
Fines of VND30–50 million will be levied for not publicly displaying gold bar or jewellery prices, producing jewellery without declared standards or proper labelling, or making gold bars without disclosing standards, weight, purity or labelling requirements. Carrying gold across borders in breach of rules, excluding customs violations, will incur penalties of VND80–100 million.
More severe breaches face VND140–180 million in fines, including violating gold management rules, importing or exporting gold jewellery and materials outside registered business lines, producing or trading jewellery without required conditions, or processing jewellery without proper business registration.
Using imported raw gold for unapproved purposes or repeated agent-based gold bar trading will trigger VND200–250 million penalties. Operating gold bar production in violation of regulations carries VND250–300 million in fines. The heaviest sanctions, VND300–400 million, apply to producing or trading gold bars without licences, importing or exporting raw gold or bars without permits from competent agencies, or conducting other gold trading activities without required authorisation.
The decree also covers foreign currency. Individuals trading among themselves or at unauthorised agents face warnings for transactions under the equivalent of US$1,000. Transactions equivalent between $1,000 and under $10,000 face fines of VND10–20 million.
In capital contributions and share acquisitions, using non-charter or reserve funds in breach of the Law on Credit Institutions will result in fines of VND100–150 million. Exceeding shareholding limits in other lenders or violating investment rules carries VND200–250 million, with more serious breaches punished by fines of up to VND250–300 million.
Fines for deposit-taking violations range from VND20–150 million. Procedural lapses in accepting or paying deposits face VND20–40 million fines, while taking deposits from ineligible parties draws VND100–150 million. Misleading or unclear postings of deposit rates or fees incur penalties of VND10–20 million, while applying unlisted rates faces fines of VND20–40 million.
Corporate bond trading breaches include fines of VND15–30 million for failing to monitor bond proceeds usage, and VND30–50 million for not using non-cash payments.
Graver offences, such as buying bonds without prior assessment, purchasing those issued for debt restructuring or capital increases, foreign branches acquiring convertible bonds, selling to subsidiaries outside mandated cases, or buying bonds with altered proceeds without internal ratings, face fines of VND100–150 million.
The decree doubles fines for organisations compared with individuals committing the same violations. For staff at people’s credit funds or microfinance institutions, individual penalties are set at 10% of standard rates, with organisational fines doubled accordingly.
