Regulations on preventing and combating counterfeit money and protecting Vietnamese currency

Given the complex developments of counterfeit money crimes, in the coming time, the fight against and prevention is a very urgent task. To do this well, it is necessary to first promote propaganda about policies and laws against counterfeit money and laws against the use of counterfeit goods to all social groups. In particular, it is necessary to soon have sanctions to encourage those who detect and have achievements in the fight against and prevention. Close coordination between functional agencies such as banks, police, domestic and foreign internal affairs agencies to detect and handle subjects circulating and using counterfeit money.

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On December 8, the Government issued Decree 87/2023/ND-CP regulating the prevention and control of counterfeit money and the protection of Vietnamese currency. Accordingly, the detection, seizure and handling of counterfeit money, temporary seizure of money suspected of being counterfeit, money suspected of being illegally destroyed; detection, seizure and handling of money illegally destroyed; appraisal of counterfeit money, money suspected of being counterfeit; management of copying and taking pictures of Vietnamese currency and the responsibilities of state management agencies, organizations and individuals in the prevention and control of counterfeit money and the protection of Vietnamese currency.

Evidence seized in the case of "Storing and circulating counterfeit money". (Illustration photo: VNA)

Counterfeit money is understood as an item with one or two sides simulating the image, pattern, color, and size of Vietnamese currency to be accepted as Vietnamese currency, without or with forged security features, not issued by the State Bank, or Vietnamese currency that has been changed, cut, or edited to create a banknote with a different denomination than the original. Suspected counterfeit money is money with two sides that are similar to real money in terms of image, pattern, color, and size, but after comparing with the security features on real money of the same type or the announcement on the characteristics and ways to identify Vietnamese currency published by the State Bank, it is still not determined whether it is real money or counterfeit money.

Illegal destruction of Vietnamese currency is the act of intentionally tearing, damaging, or deforming Vietnamese currency. Copying or photographing Vietnamese currency is the act of creating one or more copies or video recordings of Vietnamese currency by any means or form, including creating copies in electronic form. Competent military agencies include: Ministry of National Defense Security Investigation Agency, Military Region Security Investigation Agency and equivalent; Ministry of National Defense Criminal Investigation Agency, Military Region Criminal Investigation Agency and equivalent, Regional Criminal Investigation Agency; Border Guard and Coast Guard.

Vu Tung