When will the record of temporary confiscation of suspected counterfeit money be used? How long does it take to conduct an assessment of counterfeit money, suspected counterfeit money in Vietnam?
Vietnam: When will the record of temporary confiscation of suspected counterfeit money be used?
Pursuant to the provisions of Article 4 of Decree 87/2023/ND-CP, it is clearly stated as follows:
Detection and seizure of counterfeit money, temporary confiscation of suspected counterfeit money
1. During operations and transactions where cash is involved, SBV, credit institutions, FBBs, the State Treasury, police authorities, competent military authorities, and customs authorities shall refer to security features of legitimate currency of the same type or notification regarding features and indicators of Vietnamese currency published by the SBV in order to determine whether a note is legitimate or counterfeit.
If counterfeit money is detected, SBV, credit institutions, FBBs, the State Treasury, police authorities, competent military authorities, customs authorities shall seize and produce Form No. 1 under Appendix attached hereto; if suspected counterfeit money is detected, produce Form No. 2 under Appendix attached hereto.
2. Within a maximum of 5 working days from the date on which counterfeit money is seized or suspected counterfeit money is confiscated, seizing and confiscating authorities shall produce request for counterfeit assessment or request for suspected counterfeit assessment in accordance with Clause 2 Article 5 hereof and submit to assessing bodies of the Ministry of Public Security or the SBV.
3. If organizations and individuals fail to comply with documentation and seizure of counterfeit money or temporary confiscation of suspected counterfeit money, SBV, credit institutions, FBBs, and the State Treasury shall immediately notify the nearest police authority.
4. Upon discovering signs relating to forgery, concealment, transportation, and circulation of counterfeit money, organizations and individuals shall report the crime in accordance with criminal proceeding laws. Reception and resolution of crime reports shall conform to criminal proceeding laws.
Accordingly, If counterfeit money is detected, the record of temporary confiscation of suspected counterfeit money is issued.
When will the record of temporary confiscation of suspected counterfeit money be used? How long does it take to conduct an assessment of counterfeit money, suspected counterfeit money in Vietnam?
How long does it take to conduct an assessment of counterfeit money, suspected counterfeit money in Vietnam?
Pursuant to the provisions of Article 5 of Decree 87/2023/ND-CP, it is clearly stated as follows:
Assessment of counterfeit money, suspected counterfeit money
1. Determining legitimacy of currency shall conform to this Decree. Judicial expertise regarding Vietnamese currency shall conform to judicial expertise laws.
Agencies, organizations, and individuals requesting assessment of counterfeit money, suspected counterfeit money for the purpose of determining legitimacy of the currency shall produce request in accordance with Clause 2 of this Article and submit to assessing bodies of the Ministry of Public Security or the SBV.
The Ministry of Public Security and SBV shall assign individuals specializing in assessment of counterfeit money, suspected counterfeit money, prepare equipment, instruments, and other necessities for assessment of counterfeit money and suspected counterfeit money; publish list and address of assessing bodies on websites of the Ministry of Public Security and SBV.
2. Request for assessment consists of:
a) Form No. 3 under Appendix attached hereto;
b) Exhibits that are counterfeit money, suspected counterfeit money filed for assessment.
3. Assessing bodies shall conduct assessment within a maximum of 5 working days for each note or coin; if there are more than 20 notes or coins requested for assessment in a written request, the time limit for assessment shall not exceed 60 days from the date on which adequate documents according to Clause 2 of this Article are received.
If assessing bodies deem the assessment to take longer than the time limit mentioned above, assessing bodies shall notify requesting agencies, organizations, and individuals in writing.
4. Assessing legitimacy of coins in accordance with this Decree shall be conducted free of charge. Costs for judicial expertise regarding Vietnamese currency shall conform to judicial expertise laws.
5. In case of discrepancies between assessment results of assessing bodies, assessment results produced by the SBV shall prevail.
Accordingly, the time to carry out the assessment of counterfeit money, suspected counterfeit money is as follows:
Assessing bodies shall conduct assessment within a maximum of 5 working days for each note or coin; if there are more than 20 notes or coins requested for assessment in a written request, the time limit for assessment shall not exceed 60 days from the date on which adequate documents are received.
If assessing bodies deem the assessment to take longer than the time limit mentioned above, assessing bodies shall notify requesting agencies, organizations, and individuals in writing.
How to handle the assessment results of counterfeit money, suspected counterfeit money in Vietnam?
Pursuant to Article 6 of Decree 87/2023/ND-CP stipulates as follows:
Handling of assessment results
1. Within a maximum of 2 working days from the date on which the assessment is completed, assessing bodies shall notify requesting agencies, organizations, and individuals of assessment results in writing.
If the assessed currency is not counterfeit money, assessing bodies shall return exhibits to the requesting agencies, organizations, and individuals.
If the assessed currency is counterfeit money, assessing bodies shall seize the exhibits and comply with Article 7, Article 8, and Article 9 hereof. If requesting agencies, organizations are police authorities, competent military authorities, customs authorities, People’s Procuracy, or People’s Court, assessing bodies shall return the exhibits to requesting agencies, organizations.
2. Within a maximum of 5 working days from the date on which assessment results are received, organizations requesting assessment of counterfeit money, suspected counterfeit money in accordance with Clause 2 Article 4 hereof shall notify agencies, organizations, and individuals possessing counterfeit money or suspected counterfeit money in writing and attach written notice on assessment results produced by assessing bodies. If the assessed currency is not counterfeit money, the exhibits shall be returned to organizations and individuals.
Thus, the handling of assessment results of counterfeit money, suspected counterfeit money is carried out according to the above regulations.
Decree 87/2023/ND-CP comes into force from February 2, 2024
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