How to trigger function on vocabulary terms update? Is there a hook that being triggered when any term in taxonomy vocabulary is edited/added/deleted?

I'v tried to use hook_taxonomy_vocabulary_update but no success so far.
Oh, I probably should use term_update for this:

hook_taxonomy_term_update($term){ 
if ($term-&gt;vid == $vid){
// Action
  }
}


Or Rules module