Handling Procedures When Detecting Banknotes with Suspected Counterfeit Signs

In cash transactions with customers, when counterfeit money is suspected, the State Bank branches, Transaction Offices, credit institutions, and foreign bank branches should compare with the security features of sample (or genuine) money of the same type, notify about counterfeit money identification features by the State Bank (or the Ministry of Public Security), and handle as follows:

Source: Internet

- In cases where it is confirmed that the counterfeit money has been notified in writing by the State Bank (or the Ministry of Public Security), a record (according to Appendix No. 1) must be made, the counterfeit money must be seized, stamped, and punched. The stamping and punching of counterfeit money should be done according to the provisions of Clause 2, Article 7 of Circular 28/2013/TT-NHNN.- In cases where new type counterfeit money is identified, a record (according to Appendix No. 1) must be made and the counterfeit money must be seized but not stamped or punched.

Within 2 working days from the date of seizing new type counterfeit money, the State Bank branches and Transaction Offices must notify in writing to the Issuance and Treasury Department; credit institutions and foreign bank branches must notify in writing to the State Bank branches in the locality or Transaction Office.

Additionally, State Bank branches, Transaction Offices, credit institutions, and foreign bank branches must promptly notify the nearest police agency to coordinate and handle upon detecting any of the following cases:

- There are suspicious signs of storing, transporting, circulating counterfeit money.- New type counterfeit money.- Having 5 counterfeit banknotes (or 5 counterfeit metal coins) or more in one transaction.- The customer refuses to comply with the record making and counterfeit money seizure.

Note: In cases during counting, classifying, and selecting money after cash delivery in sealed bags within the banking sector as regulated by the State Bank, when counterfeit money is found, units under the State Bank, credit institutions, and foreign bank branches should handle it as counterfeit money discovered in cash transactions as specified in Circular 28/2013/TT-NHNN.

For further regulations, see Circular 28/2013/TT-NHNN effective from January 20, 2014.

Thu Ba

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