Decree 87/2023/ND-CP combating counterfeit money, and protecting Vietnamese currency

DECREE

On prevention and fight of counterfeit money and protection of Vietnamese money^[1]

Pursuant to the June 19, 2015 Law on Organization of the Government; and the November 22, 2019 Law Amending and Supplementing a Number of Articles of the Law on Organization of the Government and the Law on Organization of Local Administration;

Pursuant to the June 16, 2010 Law on the State Bank of Vietnam;

At the proposal of the Governor of the State Bank of Vietnam;

The Government promulgates the Decree on prevention and fight of counterfeit money and protection of Vietnamese money.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree provides the detection, seizure and handling of counterfeit money, and temporary seizure of suspect counterfeit money and money suspected of being illegally destroyed; detection, seizure and handling of illegally destroyed money; assessment of counterfeit money and suspect counterfeit money; management of the copying and photocopying of the image of Vietnamese money; and responsibilities of state management agencies, organizations and individuals in prevention and fight of counterfeit money and protection of Vietnamese money.

Article 2. Subjects of application

1. The Ministry of Public Security, Ministry of National Defense, State Bank of Vietnam (below referred to as State Bank), Ministry of Finance, Ministry of Information and Communications and related ministries and sectors.

2. Credit institutions and foreign bank branches.

3. Organizations and individuals related to prevention and fight of counterfeit money and protection of Vietnamese money.

Article 3. Interpretation of terms

In this Decree, the terms below shall be construed as follows:

1. Vietnamese money (real money) includes banknotes and coins issued by the State Bank, which is legal means of payment in accordance with law.

2. Counterfeit money means an item with one or two side(s) simulating the image, pattern, color and size of Vietnamese money in order to be accepted as Vietnamese money without security features or with fake security features that is not issued by the State Bank or Vietnamese money that has been altered, cut and grafted or modified in order to create a note with a denomination different from that of the original note.

3. Suspect counterfeit money means money that has two sides identical to real money in terms of image, pattern, color and size but cannot be determined to be real or counterfeit after collated against security features on real money of the same type or the notice of features and methods to identify Vietnamese money announced by the State Bank.

4. Illegal destruction of Vietnamese money means acts of intentionally tearing, damaging or deforming Vietnamese money.

5. Copying and photocopying of the image of Vietnamese money means the creation of one or more than one copy or photocopy of Vietnamese money by any means or form, including also the creation of electronic copies.

6. Competent military agencies include: Security Investigation Agency of the Ministry of National Defense, Security Investigation Agencies of military zones and equivalent; Criminal Investigation Agency of the Ministry of National Defense, Criminal Investigation Agencies of military zones and equivalent, and Regional Criminal Investigation Agencies; and Border Guard and Coast Guard forces.

Chapter II

PREVENTION AND FIGHT OF COUNTERFEIT MONEY

Article 4. Detection and seizure of counterfeit money and temporary seizure of suspect counterfeit money

1. When conducting cash-related operations and transactions, the State Bank, credit institutions, foreign bank branches, State Treasury offices, public security agencies, competent military agencies, and customs offices shall collate money against security features of real money of the same type or the notice of features and methods for identification of Vietnamese money announced by the State Bank to determine whether it is real or counterfeit.

In case of detecting counterfeit money, the State Bank, credit institutions, foreign bank branches, State Treasury offices, public security agencies, competent military agencies and customs offices shall seize such money and make a record according to Form No. 01 provided in the Appendix to this Decree; in case of detecting suspect counterfeit money, they shall temporarily seize such money and make a record according to Form No. 02 provided in the Appendix to this Decree.

2. Within 5 working days after seizing counterfeit money or temporarily seizing suspect counterfeit money, the organizations seizing counterfeit money or temporarily seizing suspect counterfeit money shall make a dossier of request for assessment of counterfeit money, when so requested, or a dossier of request for assessment of suspect counterfeit money as specified in Clause 2, Article 5 of this Decree and send such dossier to the assessment agency of the Ministry of Public Security or the State Bank for assessment.

3. In case an organization or individual fails to abide by the making of records, seizure of counterfeit money or temporary seizure of suspect counterfeit money, the State Bank, credit institutions, foreign bank branches, and State Treasury offices shall immediately notify thereof to the nearest public security agency for coordinated handling.

4. In case of detecting signs related to acts of making, storing, transporting or circulating counterfeit money, organizations and individuals shall denounce or report crimes in accordance with the criminal procedure law. The receipt and settlement of denunciations and reports on crimes must comply with the criminal procedure law.

Article 5. Assessment of counterfeit money and suspect counterfeit money

1. The assessment to identify the authenticity of money must comply with this Decree. The judicial assessment of Vietnamese money must comply with the law on judicial assessment.

Agencies, organizations and individuals that request assessment of counterfeit money or suspect counterfeit money to identify the authenticity of money shall make a dossier specified in Clause 2 of this Article and hand-deliver it to the assessment agency of the Ministry of Public Security or State Bank.

The Ministry of Public Security or State Bank shall assign experts to carry out the assessment of counterfeit money or suspect counterfeit money, ensuring equipment, means and other necessary conditions for assessment work; make public the list of assessment agencies and their contact addresses on the Portals of the Ministry of Public Security and State Bank.

2. A dossier of request for assessment must comprise:

a/ A request for assessment of counterfeit money or suspect counterfeit money, made according to Form No. 03 provided in the Appendix to this Decree;

b/ Artifacts being counterfeit money or suspect counterfeit money to be assessed.

3. The assessment agency shall perform the assessment of 1 note or coin within 5 working days; in case the amount of money to be assessed under 1 dossier of request for assessment exceeds 20 notes or coins, the maximum time for assessment must not exceed 60 days, after receiving a complete and valid dossier as specified in Clause 2 of this Article.

During the process of assessment, if finding that the time for performing the assessment will exceed the time specified above, the assessment agency shall notify thereof in writing to the assessment requester.

4. The assessment to identify the authenticity of money under this Decree shall be performed free of charge. Expenses for judicial assessment of Vietnamese money must comply with the law on judicial assessment.

5. In case assessment agencies still hold divergent opinions on the result of assessment of money, the State Bank’s assessment result shall be valid.

Article 6. Handling of assessment results

1. Within 2 working days after completing the assessment, the assessment agency shall notify the assessment result in writing to the assessment requester.

In case the assessment result shows that the assessed money is not counterfeit money, the assessment agency shall return the artifact to the assessment requester.

In case the assessment result shows that the assessed money is counterfeit money, the assessment agency shall seize the artifact and handle it according to Articles 7, 8 and 9 of this Decree. In case the assessment requester is a public security agency or a competent military agency or a customs office or a People’s Procuracy or People’s Court, the assessment agency shall return the artifact to the assessment requester.

2. Within 5 working days after receiving the assessment result, the organization requesting the assessment of counterfeit money or suspect counterfeit money specified in Clause 2, Article 4 of this Decree shall send a written notice thereof to the agency, organization or individual possessing the counterfeit money or suspect counterfeit money, enclosed with a notice of the assessment result issued by the assessment agency. In case the assessment result shows that the assessed money is not counterfeit money, it shall be returned to the organization or individual.

Article 7. Storage, packaging, preservation, handover and receipt, and transportation of counterfeit money

1. The Ministry of Public Security and State Bank may retain an amount of counterfeit money for use as research materials. Counterfeit money used as research materials shall be sorted and counted for monitoring, storage and preservation to ensure safety during use. The Minister of Public Security and Governor of the State Bank shall decide on the quantity, type, management and use of these materials.

2. Counterfeit money shall be sorted, counted, arranged, packaged, preserved and transported in a way that can ensure integrity, security and safety, and prevent confusion. The handover and receipt of counterfeit money shall be carried out using the calculation unit of note or coin; a record on handover and receipt of counterfeit money shall be made according to Form No. 04 provided in the Appendix to this Decree, fully filled in and signed. The State Bank shall provide instructions on packaging, preservation, handover and receipt and transportation of counterfeit money to related agencies according to the latter’s functions and management competence.

Article 8. Handover of counterfeit money

1. Organizations and individuals possessing counterfeit money shall hand it over to the nearest credit institution, foreign bank branch, State Treasury office or State Bank office or hand it over to a public security agency, competent military agency or customs office for the latter to transfer it to the State Bank.

2. The handover of counterfeit money shall be expressed in a record made according to Form No. 04 provided in the Appendix to this Decree, clearly stating the type, quantity, denomination and serial number of the handed over counterfeit money.

3. Credit institutions and foreign bank branches shall hand over counterfeit money according to the State Bank’s regulations.

Article 9. Receipt and disposal of counterfeit money

1. The State Bank shall receive counterfeit money for disposal. Received counterfeit money shall be counted, using the calculation unit of note or coin; the handover and receipt of counterfeit money shall be expressed in a record made according to Form No. 04 provided in the Appendix to this Decree, clearly stating the type, quantity, denomination and serial number of the counterfeit money handed over.

2. The disposal of counterfeit money by the State Bank, including also counterfeit money related to violations, must comply with the State Bank’s regulations on disposal of money unqualified for circulation.

Article 10. Information on Vietnamese money and information on counterfeit money

1. The State Bank shall make public information on the features and methods to identify Vietnamese money in the mass media, on the State Bank’s Portal or in other appropriate media.

2. The Ministry of Public Security, Ministry of National Defense and State Bank shall coordinate and exchange with one another information on counterfeit money in circulation, methods and tricks of counterfeit money-related crimes in writing or by other appropriate methods so as to improve the effectiveness of the prevention and fight of counterfeit money and protection of Vietnamese money.

3. The State Bank and Ministry of Public Security shall consider and decide to make public information on counterfeit money for prevention. The Ministry of Public Security shall consider and decide to make public information on methods and tricks of counterfeit money-related crimes. The provision and publishing of information related to counterfeit money must comply with law.

Article 11. Professional training and further training

1. The Ministry of Public Security and State Bank shall organize professional training and further training courses on assessment of counterfeit money and suspect counterfeit money for those engaged in assessment of counterfeit money and suspect counterfeit money under their management.

2. The Ministry of Public Security, Ministry of National Defense, State Bank and Ministry of Finance shall guide the organization of training and further training courses on skills for identification of real money and counterfeit money, public communication about the law on prevention and fight of counterfeit money and protection of Vietnamese money, and other professional knowledge and skills related to prevention and fight of counterfeit money and protection of Vietnamese money according to their assigned functions and tasks.

Article 12. International cooperation in prevention and fight of counterfeit money

1. The Ministry of Public Security shall assume the prime responsibility for, and coordinate with the Ministry of National Defense, State Bank, Ministry of Finance or related ministries and sectors in, formulating mechanisms on international cooperation in exchanging practical experience and professional training in prevention and fight of counterfeit money and counterfeit money-related crimes; formulating and implementing plans and measures to detect and crackdown transnational criminal rings specialized in making, stockpiling, transporting and trading in counterfeit money.

2. The State Bank shall, within the ambit of its competence, decide on the cooperation with international organizations, central banks or money-issuing agencies of countries to exchange and work together on solutions on prevention and fight of counterfeit money and protection of national currencies; support the training and coaching on identification of real money and counterfeit money; organize or participate in conferences or seminars, or other forms of cooperation related to prevention and fight of counterfeit money.

Chapter III

HANDLING OF ILLEGALLY DESTROYED VIETNAMESE MONEY

Article 13. Detection, temporary seizure and verification of money suspected to be torn, damaged or deformed due to illegal destruction

1. When conducting cash-related operations and transactions, if suspecting that  real money is torn, damaged or deformed not due to the process of circulation or preservation (in case it is an artifact), the State Bank, credit institutions, foreign bank branches or State Treasury offices shall make a record according to Form No. 05 provided in the Appendix to this Decree, temporarily seize the artifact and immediately forward it to the nearest public security agency or competent military agency for verification and conclusion.

2. Within 7 working days after receiving the artifact, the public security agency or competent military agency shall verify and conclude on money that is suspected to be torn, damaged or deformed due to illegal destruction.

Article 14. Handling after verification

Within 3 working days after verifying and concluding on money that is suspected to be torn, damaged or deformed due to illegal destruction, the public security agency or competent military agency shall issue a notice of its conclusion to the concerned organization or individual.

1. In case a public security agency concludes that the money is torn, damaged or deformed due to illegal destruction of money, it shall handle the case in accordance with the law on sanctioning of administrative violations in the monetary and banking field.

In case a competent military agency concludes that the money is torn, damaged or deformed due to illegal destruction of money, it shall forward the verification result, together with the artifact, to a competent agency for handling in accordance with the law on sanctioning of administrative violations in the monetary and banking field.

2. In case it is concluded that the money is torn, damaged or deformed not due to illegal destruction of money, the public security agency or competent military agency shall immediately return the torn, damaged, deformed money to its owner or forward it to the concerned State Bank office, credit institution, foreign bank branch or State Treasury office for handling according to regulations on collection and exchange of money unqualified for circulation.

Article 15. Storage, packaging, preservation, handover and receipt, and transportation of illegally destroyed money

1. The Ministry of Public Security and Ministry of National Defense may retain an amount of illegally destroyed money for use as research materials. Illegally destroyed money which is used as research materials shall be sorted and counted for monitoring, storage and preservation to ensure safety during use. The Minister of Public Security and Minister of National Defense shall decide on the quantity, type, management and use of these materials.

2. Illegally destroyed money shall be handed over and received, using the calculation unit of note or coin, and counted, arranged, packaged, preserved and transported in a way that can ensure integrity, security and safety and prevent confusion. The State Bank shall provide instructions on packaging, preservation, delivery and receipt and transportation of illegally destroyed money to related agencies according to the latter’s functions and management competence.

Article 16. Receipt and disposal of illegally destroyed money

1. The State Bank shall receive illegally destroyed money for disposal. The handover and receipt of illegally destroyed money shall be carried out in accordance with Clause 2, Article 15 of this Decree.

2. The disposal of illegally destroyed money by the State Bank, including also illegally destroyed money related to violations, must comply with the State Bank’s regulations on disposal of money unqualified for circulation.

Chapter IV

MANAGEMENT OF THE COPYING AND PHOTOCOPYING OF THE IMAGE OF VIETNAMESE MONEY

Article 17. Principles of copying or photocopying the image of Vietnamese money

1. Agencies, organizations and individuals may copy or photocopy the image of Vietnamese money when all of the following principles are adhered to:

a/ The copying or photocopying does not change the image of Vietnamese money, other than enlarging, downsizing, or copying and photocopying the image of Vietnamese money at an inclination of the same ratio, and must ensure the integrity of the portrait and national emblem on the front side of the note or coin;

b/ It is not permitted to cut, merge or combine part or the whole of the image of Vietnamese money with the contents, sounds or images that are vulgar, pornographic or violent or related to crimes or social vices or contrary to historical traditions, culture, ethics, fine customs and laws of Vietnam;

c/ The copying and photocopying of the image of Vietnamese money are not for commercial purposes without collection of money in any form, except cases of using the image of Vietnamese money in journalistic works or documentaries or for archive in libraries for research purposes or photographing or television broadcasting the image of Vietnamese money displayed in public places for the purpose of introducing and disseminating information about Vietnamese money.

2. The organizations and individuals mentioned in Clause 1, Article 19 of this Decree, when permitted to copy or photocopy the image of Vietnamese money, must ensure that the image of Vietnamese money is used for proper purposes.

Article 18. Conditions and standards for copying and photocopying Vietnamese money

1. In addition to the principles specified in Clause 1, Article 17 of this Decree, agencies, organizations and individuals that copy or photocopy the image of Vietnamese money must also meet one of the following conditions and standards:

a/ Copying or photocopying part of the image or pattern of Vietnamese money which does not exceed one-third of the front or back side of ​the note or coin; or,

b/ Copying or photocopying the image of one side of Vietnamese money with the length and width, for banknotes, or the diameter, for coins, smaller than 75% or greater than 150% of the size of real money of the same denomination; or,

c/ Copying or photocopying the image of both sides of Vietnamese money with the length and width, for banknotes, or the diameter, for coins, smaller than 50% or greater than 200% of the size of real money of the same denomination; or,

d/ Copying or photocopying the image of Vietnamese money into electronic versions for uploading to the cyberspace in a size equivalent to real money of the same denomination with a maximum resolution of 72dpi (dots per inch).

2. The conditions and standards stated in Clause 1 of this Article do not apply to the State Bank, printing and minting establishments and assessment agencies as specified in this Decree.

3. In case other agencies and units under ministries, ministerial-level agencies and government-attached agencies do not apply the conditions and standards specified in Clause 1 of this Article, they shall exchange in advance with the State Bank their opinions on the expected content of the copies and photocopies of the image of Vietnamese money in writing.

Article 19. Order and procedures for copying and photocopying the image of Vietnamese money

1. Organizations and individuals other than those specified in Clauses 2 and 3, Article 18 of this Decree, that wish to copy or photocopy the image of Vietnamese money but do not meet the conditions and standards specified in Clause 1, Article 18 of this Decree, shall make 1 dossier of request for permission to copy or photocopy the image of Vietnamese money and hand-deliver or send it by post to the Single-Window Division at the Head Office of the State Bank. The dossier must comprise:

a/ A request for permission for copying and photocopying the image of Vietnamese money, made according to Form No. 06 provided in the Appendix to this Decree;

b/ Design sketches, illustrations or documents related to the intention to use the image of Vietnamese money, describing and identifying the exact location, area, size of the copy or photocopy, and resolution of the image of the Vietnamese money.

2. Within 10 days after receiving a complete and valid dossier, the State Bank shall issue a written reply regarding the copying and photocopying of the image of Vietnamese money.

In case the dossier is not complete as specified in Clause 1 of this Article, the Single-Window Division at the Head Office of the State Bank shall proceed with the following steps:

a/ In case the dossier is hand-delivered, to clearly notify the reason and immediately return the dossier to the requester;

b/ In case the dossier is sent by post, within 3 working days after receiving the dossier, to clearly notify the reason in writing to the requester.

Chapter V

RIGHTS AND RESPONSIBILITIES OF AGENCIES, ORGANIZATIONS AND INDIVIDUALS IN PREVENTING AND FIGHTING COUNTERFEIT MONEY AND PROTECTING VIETNAMESE MONEY

Article 20. Rights and responsibilities of organizations and individuals

1. To preserve Vietnamese money during the process of management and use.

2. To request functional agencies to assess counterfeit money and suspect counterfeit money according to Article 5 of this Decree.

3. To promptly notify the nearest public security agency, competent military agency or customs office of the violation of regulations on prevention and fight of counterfeit money and protection of Vietnamese money.

4. To comply with regulations on management of the copying and photocopying of the image of Vietnamese money.

Article 21. Responsibilities of the Ministry of Public Security

1. To be held mainly and comprehensively responsible for the prevention and fight of counterfeit money and protection of Vietnamese money, and assume the prime responsibility for, and coordinate with the State Bank, Ministry of National Defense, Ministry of Finance, Ministry of Information and Communications and related ministries and sectors in, guiding and directing related units in the prevention and fight of counterfeit money and protection of Vietnamese money.

2. To assume the prime responsibility for, and coordinate with related ministries and sectors in, carrying out international cooperation on prevention and fight of counterfeit money-related crimes.

Article 22. Responsibilities of the Ministry of National Defense

1. To coordinate with the Ministry of Public Security in inspecting, controlling, and detecting violations of regulations on the protection of Vietnamese money according to its management scope and competence; to guide and direct functional agencies and related units in handling cases of counterfeit money, suspect counterfeit money and money suspected of being illegally destroyed, and coordinating in prevention and fight of counterfeit money and protection of Vietnamese money in accordance with law.

2. To coordinate with the Ministry of Public Security, State Bank and related ministries and sectors in carrying out public communication about protection of Vietnamese money.

Article 23. Responsibilities of the State Bank

1. To ensure that banknotes and coins in circulation are durable, fine, highly resistant to counterfeiting, and convenient for management and use, and provide instructions on preservation methods suitable to their materials so as to increase usage time of banknotes and coins in circulation.

2. To research and apply solutions to improve the quality and counterfeiting resistance of Vietnamese money.

3. To guide and inspect the handling of counterfeit money and suspect counterfeit money in the banking sector; to guide organizations and individuals to copy and photocopy the image of Vietnamese money in accordance with law; to coordinate with the Ministry of Public Security, Ministry of National Defense and related ministries and sectors in carrying out public communication about protection of Vietnamese money.

Article 24. Responsibilities of the Ministry of Finance

1. To summarize and propose competent authorities to allocate central budget funds reserved for recurrent expenditures for ministries, ministerial-level agencies and government-attached agencies to deploy the prevention and fight of counterfeit money and protection of Vietnamese money in accordance with the Law on the State Budget and guiding documents.

2. To direct and guide attached agencies to organize the implementation of this Decree according to their assigned functions and tasks; to guide and inspect the handling of counterfeit money, suspect counterfeit money, and money suspected of being illegally destroyed within the scope of their management.

Article 25. Responsibilities of the Ministry of Information and Communications

1. To manage the content of press information, radio and television broadcasts, and publication (including publication, printing and distribution), and electronic information so as to ensure compliance with regulations on prevention and fight of counterfeit money and protection of Vietnamese money.

2. To coordinate with the Ministry of Public Security, Ministry of National Defense and State Bank in compiling information to be disseminated; to direct press agencies, grassroots information systems and functional units in the field of information management in disseminating regulations on prevention and fight of counterfeit money and protection of Vietnamese money.

Chapter VI

IMPLEMENTATION PROVISIONS

Article 26. Effect

1. This Decree takes effect on February 2, 2024.

2. To annul the Prime Minister’s Decision No. 130/2003/QD-TTg of June 30, 2003, on the protection of Vietnamese money.

Article 27. Implementation responsibility

Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People’s Committees, and organizations and individuals with related rights and obligations shall implement this Decree.-

On behalf of the Government
For the Prime Minister
Deputy Prime Minister
LE MINH KHAI

* The Appendix to this Decree is not translated.