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Vietstock reports that on the afternoon of March 25, police unexpectedly appeared at Bao Tin Minh Chau gold shops in Hanoi, after which the outlets closed and suspended operations. Around 14:00, authorities were present at three Bao Tin Minh Chau locations on Tran Nhan Tong Street and 139 Cau Giay, drawing the attention of local residents. By around 15:00, police proceeded to seal some computer CPUs and related documents to support the investigation and verification process. As of now, there has been no official statement from the police.
Earlier, on July 7, 2025, at a press briefing, Lieutenant General Nguyen Quoc Toan, spokesman for the Ministry of Public Security, said the Public Security Investigation Agency had received files from the State Bank of Vietnam Inspectorate regarding violations in gold trading and anti-money-laundering controls. The investigation is ongoing to determine violations under the law.
On May 30, 2025, the State Bank of Vietnam announced the conclusions of an inspection covering six enterprises and banks operating in gold trading, including Bao Tin Minh Chau. The units received administrative penalties ranging from 380 million to 2.64 billion VND, with Bao Tin Minh Chau receiving the highest penalty.
The inspection report cited violations related to invoices, records, and taxes, with some firms showing deeper violations in gold trading and internal governance.
At Bao Tin Minh Chau specifically, inspectors identified multiple issues, including:
Significant problems were also found in anti-money-laundering (AML) controls, including:
The violations were assessed as creating substantial risks to financial safety and market transparency in the gold sector. After the on-site inspection, the inspectorate reported signs of criminal violations to the authorities. Based on that, the Governor of the State Bank of Vietnam approved handing the case to the police for investigation and action under the law.
According to the State Bank’s conclusions, Bao Tin Minh Chau was fined 2.64 billion VND and required to cease violations and rectify issues related to gold trading, tax and invoicing compliance, and AML obligations.
The transfer of the case to police indicates a stronger stance by authorities to tighten governance in the gold market, a sector described as closely linked to financial stability.
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