(TBTCO) – The Government has just issued Decree 87/2023/ND-CP on preventing counterfeit money and protecting Vietnamese currency, which sets out regulations on detecting, seizing, handling counterfeit money, and temporarily seizing money. money suspected of being counterfeit, money suspected of being illegally destroyed. The Decree takes effect from the beginning of 2024.
Decree 87 also regulates the detection, seizure, and handling of illegally destroyed money; assessment of counterfeit and suspected counterfeit money; management of copying and taking images of Vietnamese money and responsibilities of state management agencies, organizations and individuals in preventing and combating counterfeit money and protecting Vietnamese money.
According to Decree 87, Vietnamese money (real money) includes paper money and metal money issued by the State Bank, which is a legal means of payment according to the provisions of law.
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Counterfeit money is understood as an item with one or two sides that simulates the image, pattern, color, and size of Vietnamese money to be accepted as Vietnamese money, without or with fake security features. , not issued by the State Bank or Vietnamese currency that has been altered, cut, or edited to create notes with denominations different from the original.
Suspected counterfeit money is money that has two sides similar to real money in terms of image, pattern, color, size, but after comparison with security features on real money of the same type or notice of characteristics and how to identify money. Vietnam announced by the State Bank, it has not yet been determined whether the money is real or fake.
Illegal destruction of Vietnamese currency is an act of intentionally tearing, damaging, or deforming Vietnamese currency. Copying and taking images of Vietnamese currency is the creation of one or more copies or photographic records of Vietnamese currency by any means or form, including creating copies in electronic form.
In activities and transactions related to cash, the State Bank, credit institutions, foreign bank branches, State Treasury, police agencies, and competent military agencies , customs will compare with the security features on real money of the same type or notice on the characteristics and identification of Vietnamese money announced by the State Bank to determine whether the money is real or fake.
Methods of handling when detecting counterfeit money
In case of detecting counterfeit money, the State Bank, credit institutions, foreign bank branches, State Treasury, police agencies, competent military agencies, and customs will confiscate and make minutes according to the form. In case of detecting suspected counterfeit money, temporarily confiscate it and make a record.