Is burning money against the law?

Vietnamese currency is the property of the State. The State Bank issues the currency and also promulgates regulations to protect the Vietnamese currency.

Is burning money against the law?

According to Article 3 of Decision 130/2003/QD-TTg on the protection of Vietnamese currency, the following regulations apply:

1. Counterfeiting money, transporting, possessing, circulating, buying, and selling counterfeit money.

2. Destroying Vietnamese currency in any way.

3. Reproducing Vietnamese currency for any purpose without prior written approval from the State Bank of Vietnam.

4. Refusing to accept or circulate currency issued by the State Bank of Vietnam within the territory of Vietnam.

Based on the above regulations, burning money is considered an act of destroying currency. Therefore, burning money is considered a violation of the law.

Burning money is illegal. (Illustrative image)

What is the fine for burning money?

Article 31 of Decree 88/2019/ND-CP stipulates the monetary penalties for violations concerning the protection of Vietnamese currency as follows:

...

3. A fine of VND 10,000,000 to VND 15,000,000 shall be imposed for the act of illegally destroying or damaging Vietnamese currency.

4. A fine of VND 40,000,000 to VND 50,000,000 shall be imposed for the act of copying, printing, or using the layout, part or all of the images, details, or patterns of Vietnamese currency in violation of the law.

5. Additional forms of punishment:

All evidence and means used to commit the violations specified in Clauses 2, 3, and 4 of this Article shall be confiscated and handed over to the competent authority for processing.

6. Remedial measures:

a) Forcing the stamping and punching of counterfeit money in accordance with the State Bank of Vietnam's regulations on handling counterfeit and suspected counterfeit money for violations specified in point c, clause 2 of this Article;

b) To order the destruction of all evidence and means used to commit the violations specified in Clause 4 of this Article;

c) To compel the payment into the state budget of any illegal profits obtained from committing acts violating the provisions of Clause 4 of this Article.

Accordingly, the act of burning money can be punished with a fine of 10,000,000 to 15,000,000 VND, and all evidence and means used to commit the violation will be confiscated.

Lagerstroemia (compilation)

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