Buying and selling gold bars with organizations without licenses fined up to 20 million VND
The Government has just issued Decree No. 340/2025/ND-CP regulating penalties for administrative violations in the monetary and banking sectors.
For acts of violating regulations on gold business activities, the Decree stipulates warnings for acts of buying and selling gold bars with credit institutions or enterprises without a Business License for buying and selling gold bars; using gold as a means of payment.
If the above acts are repeated or violated many times, they will be fined from 10-20 million VND. This fine level also applies to the act of: Not making payments for buying and selling gold through payment accounts in accordance with the law.
A fine of 30-50 million VND shall be imposed for the following acts: Not publicly listing the buying and selling prices of gold bars, jewelry and fine art according to the provisions of law; producing jewelry and fine art gold without announcing applicable standards, without labeling goods according to the provisions of law;
Producing gold bars without announcing applied standards, volume, product content, and without labeling goods according to the provisions of law.
Carrying gold when exiting and entering illegally is fined up to 100 million VND
A fine of 80-100 million VND shall be imposed for the act of carrying gold when exiting or entering the country not in accordance with the law, except for administrative violations in the customs sector.
A fine of 140-180 million VND shall be imposed for one of the following violations:
- Perform business of buying and selling gold bars through authorized agents;
- Not complying with the provisions of law on gold status;
- Exporting and importing jewelry gold, fine arts; raw gold in the form of powder, solution, welded scales, gold salt and jewelry gold in the form of semi-finished products that are not in accordance with the contents of the registered business lines according to the provisions of law;
- Performing production and business of buying and selling jewelry and fine art gold without meeting the conditions for being allowed to produce and trade in buying and selling jewelry and fine art gold in accordance with the law;
- Performing gold jewelry and fine art processing without registering gold jewelry and fine art processing in the Business Household Registration Certificate, Business Registration Certificate or Business Registration Certificate according to the provisions of law.
A fine of 200 - 250 million VND shall be imposed for the following acts: Using imported raw gold materials not in accordance with the import license for raw gold materials; carrying out business of buying and selling gold bars through authorized agents in case of re-violation.
A fine of 250 - 300 million VND shall be imposed for the act of producing gold bars not in accordance with the law.
A fine of 300 - 400 million VND shall be imposed for one of the following violations: Producing, trading in buying and selling gold bars but without a license to produce, trade in buying and selling gold bars; exporting or importing raw gold, gold bars without a license issued by a competent state agency in accordance with the law; other gold business activities without a license issued by a competent authority in accordance with the law.
