Why collect information of gold buyers?

On the afternoon of August 1, at a daily press convention on the socio-economic scenario of Ho Chi Minh Metropolis, Mr. Nguyen Duc Lenh – Deputy Director of the State Financial institution of Vietnam, Ho Chi Minh Metropolis Department – offered details about the State Financial institution promoting gold on to individuals by means of SJC Firm and 4 industrial banks.

Based on Mr. Lenh, this answer goals to make sure the widespread pursuits of the financial system and the individuals. To advertise the effectiveness of this answer, it’s essential to have administration measures on inspection, rules on invoices and paperwork, and rules associated to the acquisition and sale of gold bars. On this course of, state administration businesses, enterprises buying and selling in gold bars, industrial banks assigned to promote SJC gold bars, and prospects shopping for gold are all accountable.

“Prospects should purchase and promote gold bars on the proper location and current their citizen identification. Such identification ensures that every group and particular person when shopping for and promoting gold complies with the provisions of the Regulation,” Mr. Lenh affirmed.

Mr. Lenh added that the administration company, SJC Firm and 4 state-owned industrial banks promoting state gold to the individuals should additionally adjust to rules. To hold out this job, the items should coordinate to change data, report, and conduct inspections to forestall hypothesis, profiteering, and worth manipulation…

“If these options are carried out effectively, they are going to be sure that the gold market operates healthily, overtly and transparently. Particularly, the current inspection outcomes of the Ho Chi Minh Metropolis Market Administration Division are additionally an answer to assist restrict the phenomenon of many gold outlets circumventing rules by not displaying and promoting gold jewellery of unknown origin, however underground transactions are nonetheless fairly widespread,” stated Mr. Lenh.

Additionally on the press convention, Lieutenant Colonel Le Manh Ha – Deputy Head of the Employees Division of Ho Chi Minh Metropolis Police – stated that gold is the enter supply for gold processing and serving the individuals’s gold storage. The working group to make sure gold market safety was established to change data to stabilize the market administration.

Based on Mr. Ha, amassing details about gold consumers isn’t a troublesome job however to guard the professional rights of the individuals, stop profiteering, and defend the rights of the manufacturing unit. The change of knowledge and the implementation of the duty power’s duties will adjust to the legislation on anti-money laundering and guarantee nationwide safety. The data exchanged all the time complies with the requirement of confidentiality of individuals’s data based on rules, the most important aim is to guard the professional rights of individuals and companies.

The Ho Chi Minh Metropolis Folks’s Committee has issued a choice to ascertain a working group to make sure gold market safety within the metropolis.

Accordingly, the record of people shopping for gold at SJC gold bar gross sales factors of SJC Firm and 4 industrial banks in Ho Chi Minh Metropolis will likely be collected and transferred to Ho Chi Minh Metropolis Police on daily basis.

The duty of the working group is to gather and analyze data, information, and conditions of consumers shopping for and promoting gold bars within the metropolis; coordinate inspections and checks on compliance with the Regulation on gold buying and selling of institutions shopping for and promoting gold bars and producing and buying and selling gold jewellery; examine organizations and people with indicators of suspicion of hypothesis, profiteering, and inflicting instability within the gold market in Ho Chi Minh Metropolis.