Under his decision that took effect from October 18, Prime Minister Pham Minh Chinh has assigned Deputy Prime Minister Ho Duc Phoc as head of the Anti-Money Laundering Steering Committee, according to a report from the Government News.

The committee is responsible for assisting the Prime Minister in building strategies, guidelines, policies, programs, plans, mechanisms, and solutions for anti-money laundering activities.

It also assists the Prime Minister in directing and coordinating the inspection and evaluation of anti-money laundering efforts across the nation.

At the same time, it helps the Prime Minister direct the implementation of Vietnam's membership obligations in the Asia-Pacific Group on Money Laundering (APG) and the plan to fully implement the 40 recommendations of the Financial Action Task Force (FATF) on anti-money laundering.

The committee shall compile and report to the Prime Minister on the implementation of anti-money laundering activities, and the National Plan of Action on prevention and control of money laundering, terrorism financing and financing of the proliferation of weapons of mass destruction for the 2021-2025 period.

Vietnam became the 34th member of the APG in May 2007.