Anti-money laundering and identification
Why KBMC asks for ID
Businesses trading precious metals and stones have anti-money-laundering duties under the 2022 Anti-Money Laundering Law. Asking for ID does not mean KBMC suspects you; it is the same procedure for everyone and protects you from buying assets of illegal origin.
Thresholds
| Threshold | What applies | Basis |
|---|---|---|
| 5 million VND or more per person per day | KBMC pays for buy-backs by transfer to an account in the seller's name | Rules on payment records when buying from individuals |
| 20 million VND or more per client per day | You pay through an account, not cash | Decree 232/2025/ND-CP |
| 50 million VND or more per client per day | Identification: 12-digit ID number and photo ID | KBMC internal threshold |
| Every buy-back | Seller identification | KBMC internal threshold |
| 400 million VND or more | KBMC reports the large-value transaction to the competent authority | Decision 11/2023/QD-TTg |
All transactions by the same client on the same day are added together.
Transactions KBMC declines
- ID information is withheld or incorrect.
- Payment from someone else's account for transactions of 20 million VND or more.
- Splitting transactions to avoid thresholds.
- Sellers unable to show ownership when there are warning signs.
Protecting your information
ID information is used only for anti-money-laundering duties and stored under our Privacy policy. Staff complete anti-money-laundering training before they may transact.