Prohibited acts and principles in credit information | iGuide

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Prohibited acts in credit information activities and principles and purposes of activities

This article provides information on prohibited acts in credit information activities, along with the principles and purposes of the activities. Acts such as misuse of information, unauthorized disclosure of information and falsification of information are strictly prohibited. The article also explains the principles of operation to ensure transparency, accuracy and confidentiality of credit information, helping to protect the interests of related parties.

1. Prohibited acts in credit information activities

Specifically in Article 6 of Circular 03/2013/TT-NHNN, prohibited acts in credit information activities include:

- Illegally collecting, providing, and using information within the scope and category of State secrets.

- Intentionally distorting credit information content, affecting the legitimate rights and interests of related organizations and individuals.

- Providing credit information to unrelated or illegal organizations or individuals.

- Taking advantage of credit information activities for personal gain, infringing upon the interests of the State, the rights and legitimate interests of organizations and individuals.

- Obstructing the legal collection and exploitation of credit information of organizations and individuals.

- Providing credit information products to subjects not specified in Article 10 of Circular 03/2013/TT-NHNN.

2. Principles of credit information operations

Credit information activities are carried out based on the principles prescribed in Article 5 of Circular 03/2013/TT-NHNN (amended in Clause 2, Article 1 of Circular 27/2017/TT-NHNN) as follows:

- Comply with the provisions of law on protection of state secrets, personal secrets and other relevant legal provisions when providing and exploiting credit information.

- Ensure honesty and objectivity in credit information activities.

- Ensure the rights and interests of organizations and individuals in providing credit information and exploiting credit information products.

3. Purpose of credit information activities

According to Article 4 of Circular 03/2013/TT-NHNN, credit information activities aim to create a National Credit Information Database to support:

- The State Bank of Vietnam performs the function of managing and supervising banking activities, contributing to ensuring the safety of the Vietnamese banking system.

- Credit institutions prevent and limit risks in business activities.

- Borrowers in accessing credit capital from credit institutions, contributing to promoting socio-economic development.