Temporary suspension on granting licenses to the news aggregator websites. Penalty on life insurance enterprises facilitating the money laundering.

1. Temporary suspension on granting licenses to news aggregator websites

To restrict the uncontrolled popularity of “newspaperization” on websites, Deputy Minister of Information and Communications executed Official Dispatch no. 3835/BTTTT-PTTH&TTDT and sent to provincial Departments of Information and Communications, managing on the operation of news aggregator websites, accordingly, to temporarily suspend issuing the licenses for news aggregator websites of enterprises and press agencies as of 1st of November, 2019.

Besides, the Official Dispatch specified the following requirements for news aggregator websites:

  1. News aggregator websites shall publish links to access the original articles under their articles, which was reposted from such original.
  2. News aggregator websites are required to have written agreements with the press agencies (oral agreements are not accepted) allowing to share articles. These agreements shall be submitted to the licensing authority by 5th of November, 2019. Upon the termination of the above term, any news aggregator websites, which share news or articles without the mentioned written agreement, shall be strictly fined in accordance to the law regulation.

2. Life insurance enterprises shall be fined up to 100 million VND for facilitating the money laundering:

Government has promulgated Decree 80/2019/ND-CP, which entered into force on 1st of November, 2019 amending, supplementing several articles of Decree 98/2013/ND-CP dated 28th August, 2013 regulating the administrative penalties in the field of insurance business (“Decree 80/2019”).

According to Decree 80/2019, if life insurance enterprises organize or facilitate money laundering, which is not yet to be accused of criminal crimes, shall be fined in the range of VND 90,000,000 and 100,000,000.

  1. A fine of between VND 30,000,000 and 60,000,000 shall be imposed for hindrance to the provision of information of service to anti-money laundering work;
  2. A fine of between VND 50,000,000 and 100,000,000 shall be imposed for failure to provide information of use to anti-money laundering work at the request of competent authorities according to regulations of Clause 1 Article 28 of the Anti-Money Laundering Law;