Vietnamese currency is the property of the State. The State Bank issues money and also sets out regulations to protect Vietnamese currency.
Is it illegal to burn money?
According to Article 3 of Decision 130/2003/QD-TTg, regulations on the protection of Vietnamese currency are as follows:
1. Making counterfeit money, transporting, storing, circulating, buying and selling counterfeit money.
2. Destroying Vietnamese currency in any form.
3. Photocopying Vietnamese currency for any purpose without prior written approval of the State Bank.
4. Refusing to receive and circulate currency issued by the State Bank within the territory of Vietnam.
According to the above regulations, burning money is considered an act of destroying money. Therefore, burning money is considered a violation of the law.
Burning money is illegal. (Illustration photo)
How much is the fine for burning money?
Article 31 of Decree 88/2019/ND-CP stipulates the fine level for violations of Vietnamese currency protection as follows:
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3. A fine of VND 10,000,000 to VND 15,000,000 shall be imposed for acts of vandalizing or destroying Vietnamese currency illegally.
4. A fine of VND 40,000,000 to VND 50,000,000 shall be imposed for the act of copying, printing, using the layout, part or all of the images, details, and patterns of Vietnamese currency that are not in accordance with the law.
5. Additional penalties:
Confiscate all exhibits and means of committing violations in Clauses 2, 3 and 4 of this Article and hand them over to competent authorities for handling.
6. Remedial measures:
a) Forced stamping and punching of counterfeit money in accordance with the State Bank's regulations on handling counterfeit money and suspected counterfeit money for violations of the provisions at Point c, Clause 2 of this Article;
b) Forced destruction of all exhibits and means used to commit the violation specified in Clause 4 of this Article;
c) Forced to pay into the state budget the illegal profits obtained from committing the violation specified in Clause 4 of this Article.
Accordingly, the act of burning money can be fined from 10,000,000 VND to 15,000,000 VND, and all evidence and means used to commit the violation can be confiscated.
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