Chương III: Tổ chức thực hiện

CIRCULAR

ON HANDLING OF COUNTERFEIT MONEY AND SUSPECTED COUNTERFEIT MONEY IN BANKING

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

Pursuant to the Government's Decree No. 102/2022/ND-CP dated December 12, 2022 on functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Government's Decree No. 87/2023/ND-CP dated December 08, 2023 on anti-counterfeit money and protection of Vietnamese currency

At the proposal of Director of Issue and Vault Department;

The Governor of State Bank of Vietnam promulgates the Circular on handling of counterfeit money and suspected counterfeit money in banking.

Chapter I

GENERAL PROVISIONS

Article 1. Scope

This Circular provides for the seizure of counterfeit money; temporary seizure of suspected counterfeit money; verification of counterfeit money and suspected counterfeit money; stamping and punching of counterfeit money; packaging, delivery, storage, and transportation of counterfeit money in banking.

Article 2. Regulated entities

1. The State Bank of Vietnam (hereinafter referred to as "SBV"), credit institutions, and branches of foreign banks.

2. Organizations and individuals having counterfeit money or suspected counterfeit money in cash transactions with the organizations specified in Clause 1 of this Article.

Article 3. Interpretation of terms

In this Circular, the terms below are construed as follows:

1. Counterfeit money of new type refers to counterfeit money that have not yet been officially announced in writing by SBV or the Ministry of Public Security.

2. Security features are intentionally integrated characteristics on currency to enable to verify and distinguish between genuine currency and counterfeit money.

3. Customers are organizations and individuals engaged in cash transactions with SBV, credit institutions, and branches of foreign banks.

Chapter I

SPECIFIC PROVISIONS

Article 4. Responsibility for seizure of counterfeit money and temporary seizure of suspected counterfeit money

1. The Operations Center, SBV’s branches, credit institutions, and branches of foreign banks, upon detecting counterfeit money in cash transactions with customers, shall seize it according to the provisions of Article 5 of this Circular; upon detecting suspected counterfeit money, they shall temporarily seize it according to the provisions of Article 6 of this Circular; counterfeit money and suspected counterfeit money shall not be returned to customers.

2. Persons seizing counterfeit money or suspected counterfeit money must be trained in recognizing genuine and counterfeit money according to the SBV’s program or be trained in professional money assessment.

Persons assessing counterfeit money or suspected counterfeit money at SBV must be trained in professional money assessment.

Article 5. Seizure of counterfeit money

1. In cash transaction with customers, when detecting suspected counterfeit money, the SBV’s branch, Operations Center, credit organization or branch of a foreign bank shall compare it with the security features on the genuine money (or sample money) of the same type or and the announcement of identification features of counterfeit money from SBV or the Ministry of Public Security, and handle the case as follows:

a) In case of confirmation of counterfeit money specified in written announcements of SBV or the Ministry of Public Security: seize it and prepare a record using Form No. 01 specified in the Appendix attached to Government’s Decree No. 87/2023/ND-CP dated December 8, 2023 on anti-counterfeit money and protection of Vietnamese currency; stamp and punch on the counterfeit money. The stamping and punching of counterfeit money shall comply with the provisions of Clause 2, Article 7 of this Circular.

b) In case of confirmation of counterfeit money of new type: seize it and prepare a record using Form No. 01 specified in the Appendix attached to Government’s Decree No. 87/2023/ND-CP but do not stamp and punch on it.

Within 02 working days after the seizure of counterfeit money of new type, SBV’s branches, Operations Centers shall send a notice to the Issue and Vault Department; credit institutions, branches of foreign banks shall send a notice to the SBV’s branch or the Operations Center in the province where the credit institution or the branch of a foreign bank has opened a checking account (hereinafter referred to as “SBV’s branch in the province”). The notice includes information about the type of money, quantity, serial number, and description of counterfeit money.

2. SBV’s branches, Operations Centers, credit institutions, and branches of foreign banks shall promptly notify the nearest police authority to cooperate and handle the following cases:

a) There are signs of storage, transportation, or circulation of counterfeit money.

b) New types of counterfeit money.

c) Transactions with 5 counterfeit notes (or 5 counterfeit coins) or more.

d) Customers fail to comply with the procedures for record preparation and seizure of counterfeit money.

3. After receiving cash in sealed bundles or sacks according to the SBV’s regulations, if counterfeit money is detected during the calculation, classification and selection of money, units affiliated to SBV, credit institutions, and branches of foreign banks shall handle it as counterfeit money detected in cash transactions in accordance with Clause 1 and points b and c of Clause 2 of this Article.

Article 6. Temporary seizure of suspected counterfeit money

1. If suspected counterfeit money is detected in cash transactions with customers, SBV’s branches, Operations Centers, credit institutions, and branches of foreign banks shall temporarily seize it and prepare a record using Form No. 02 specified in the Appendix attached to Decree No. 87/2023/ND-CP .

2. Within 5 working days from the date of temporary seizure, the credit institutions and branches of foreign banks shall shall send verification records specified in Clause 1, Article 10 of this Circular to the branches of State Bank in provinces or Operations Centers for assessment.

Article 7. Stamping and punching of counterfeit money

1. Stamp of counterfeit money:

The stamp of counterfeit money is rectangular with size: 60mm x 20mm; name of unit: 60mm x 7mm, the phrase "TIỀN GIẢ” (COUNTERFEIT MONEY): 60mm x 13mm. The stamp of counterfeit money is used with fadeless red ink.

2. Stamping and punching methods of counterfeit money:

Stamp “TIỀN GIẢ” (COUNTERFEIT MONEY) once on both sides of the counterfeit note, and punch 4 holes on the counterfeit note (2 holes placed symmetrically on each side using a hole-punching tool commonly used for office documents).

Article 8. Packing and preserving the counterfeit money

1. SBV’s branches and Operations Centers shall pack and seal the counterfeit money. Counterfeit money must be stamped with “TIỀN GIẢ” (COUNTERFEIT MONEY) on seal to distinguish it from genuine money and must be carried out in accordance with the regulations on sealing of cash of SBV.

2. Packing and sealing of counterfeit money:

a) Counterfeit cotton money and counterfeit polymer money: 100 notes of the same denomination and material packed into a sheaf; 10 sheaves are packed into a bundle (1,000 notes) and sealed;

b) Counterfeit coins: 100 coins of the same denomination are packed into a small sack and sealed; 10 small bags are packed into a large sack (1,000 coins) and sealed.

c) In cases where there is an insufficient quantity to form a bundle (or sack), SBV’s branches, Operations Centers shall also conduct packaging, sealing, clearly stating the quantity of notes (or coins) for convenience in transportation.

3. Counterfeit money shall be separately preserved in the vault of SBV system, credit institutions and branches of foreign banks.

Article 9. Submission and transport of counterfeit money

1. Credit institutions, branches of foreign banks shall monthly submit confiscated counterfeit money to the SBV’s branch in the province or the Operations Center, except for counterfeit money of new type which shall be submitted in accordance with Clause 4 of this Article. The submission of counterfeit money shall be carried out on the basis of notes (or coins) and must be recorded in minutes according to Form No. 04 stipulated in Appendix attached to Decree No. 87/2023/ND-CP.

Transport methods of counterfeit money shall be decided by Chairpersons of the Board of Directors, Chairpersons of the Board of Management, or General Directors (Directors) of credit institutions or branches of foreign banks, ensuring safety during transportation.

2. SBV’s branches and Operations Centers shall verify the authenticity of each notes received from credit institutions and branches of foreign banks.

In case of detecting real money in the amount of counterfeit money, SBV’s branches and Operations Centers shall make a minute using Form stipulated in Appendix attached hereto and send a written request to the submitting unit to return the equal value to the customer and make a report on the result within 30 working days.

Genuine notes that have been stamped " TIỀN GIẢ" (COUNTERFEIT MONEY) and punched with holes shall be cut at 1/8 of the note, exchanged at face value (recorded as a credit) to the submitting unit (fees for exchange of money ineligible for circulation is exempted), and packaged and exchanged by SBV’s branches and Operations Centers as per the SBV’s regulations on money ineligible for circulation.

3. SBV’s branches and Operations Centers shall submit counterfeit money to the Central Reserves at least every 6 months (if any) The submission of counterfeit money may be combined with the transfer of money by SBV.

The submission of counterfeit money shall be done in sealed bundles or sacks and must be recorded in minutes according to Form No. 04 stipulated in Appendix attached to Decree No. 87/2023/ND-CP.

4. Credit institutions and branches of foreign banks shall submit the counterfeit money of new type to SBV’s branches in provinces or Operations Centers within 5 working days from the date of seizure in accordance with point b, Clause 1, Article 5 of this Circular. The counterfeit money of new type shall be transported in accordance with Clause 1 of this Article.

SBV’s branches and Operations Centers, within 2 working days from the date on which the counterfeit money of new type is received, shall send a notice to the Issue and Vault Department.

5. The Issue and Vault Department shall, based on the notice of the counterfeit money of new type from SBV’s branches and Operations Centers specified in point b, Clause 1, Article 5 and Clause 4, Article 9 of this Circular, consider deciding on submission of the counterfeit money of new type. SBV’s branches and Operations Centers shall submit the counterfeit money of new type at the request of the Issue and Vault Department. Transport methods shall be decided by Directors of Operations Centers or SBV’s branches, ensuring the safety and timeliness. In cases there is no request, counterfeit money shall be stamped, punches with holes, and submitted according to Clause 3 of this Article.

Article 10. Assessment of counterfeit money and suspected counterfeit money by SBV

1. Organizations or individuals applying for the assessment of counterfeit money and suspected counterfeit money shall prepare 01 set of application stipulated in Clause 2, Article 5 of Decree No. 87/2023/ND-CP and submit it in person to a SBV’s branch, or Operations Center, or the Issue and Vault Department (in Hanoi), or the Issue and Vault Sub-department (in Ho Chi Minh City).

2. Upon receiving the application stipulated in Clause 1 of this Article or from the date of temporary seizure of suspected counterfeit money stipulated in Clause 1 of Article 6, SBV’s branches, Operations Centers, the Issue and Vault Department, and the Issue and Vault Sub-department (hereinafter referred to as “assessing authority”) shall carry out the assessment. Deadlines shall comply with Clause 3, Article 5 of Decree No. 87/2023/ND-CP .

Assessing authorities shall, within 02 working days from the date on which the assessment is completed, send results in writing to the applicants.

The assessment process is conducted free of charge.

3. In case of failing to conclude the authenticity of money, within 30 days from the date on which the counterfeit or suspected counterfeit money is received, SBV’s branches and Operations Centers shall submit a written request and transfer it to the Issue and Vault Department or the Issue and Vault Sub-department for assessment. At the same time, they shall send notice to agencies, organizations, and individuals specified in Clause 1, Article 6 of this Circular; or credit institutions, branches of the foreign banks specified in Clause 2, Article 6 of this Circular.

Transport methods shall be decided by Directors of SBV’s branches and Operations Centers to ensure safety and convenience.

SBV’s branches and Operations Centers shall, within 5 working days from receiving the results, send results in writing to the applicants.

Article 11. Handling of assessing results

1. At the Issue and Vault Department or the Issue and Vault Sub-department:

a) If the assessed money is genuine money, it shall be refunded to the applicant or deposited at the State Treasury (when verified at the Issue and Vault Department) or at the SBV’s branch in Ho Chi Minh City (when verified at the Issue and Vault Sub-department) to notify as Credit to the SBV’s branch, credit institution, or foreign bank branch which has applied for assessment.

b) If the assessed money is counterfeit money, after receiving a notice from SBV or the Ministry of Public Security, it shall be seized, stamped, hole-punched, and deposited into the Central Reserve in Hanoi (Reserve I) or in Ho Chi Minh City (Reserve II)

c) If the assessed money is counterfeit money of new type, the Issue and Vault Department shall inform the Economic Security Department – Ministry of Public Security and proceed with the seizure. Issue and Vault Sub-department shall send a written report to the Issue and Vault Department and promptly inform the Ho Chi Minh City Police Department (the Economic Security Division); transfer the new type of counterfeit money to the Issue and Vault Department (if requested); the transport method shall be decided by the Issue and Vault Sub-department, ensuring the safety and timeliness.
In cases where there is no request to transfer the new type of counterfeit money to the Issue and Vault Department, it shall be stamped, hole-punched, and stored at Reserve II.

The amount of new type counterfeit money shall be stored at the Issue and Vault Department to serve the anti-counterfeit money of SBV in accordance with Article 12 of this Circular.

2. At SBV’s branches and Operations Center:

a) If the assessed money is genuine money, its shall be exchanged for the applicant according to the SBV’s regulations on exchange of money ineligible for circulation.

b) If the assessed money is counterfeit money, after receiving a notice from SBV or the Ministry of Public Security, it shall be seized, stamped, and hole-punched.

c) If the assessed money is counterfeit money of new type, it shall be seized immediately. The Economic Security Division of provinces shall send a written notice about the counterfeit money of new type to the Issue and Vault Department. The submission of the counterfeit money of new type shall be carried out in accordance with Clause 4, Article 9 of this Circular.

3. At credit institutions and branches of foreign banks:

a) If the assessed money is genuine money, its shall be exchanged for the applicant according to the SBV’s regulations on exchange of money ineligible for circulation.

If the assessed money is counterfeit money, the customers shall be informed. The counterfeit money shall be handled within 05 working days from the date on which the result is received.

4. If the counterfeit money or suspected counterfeit money is assessed upon the request of police offices, competent military authorities, customs authorities, People's Procuracies, and People's Courts, it shall be refunded to the applicant without any stamp or hole punched. The transfer of counterfeit money or suspected counterfeit money shall be made into records using Form No. 04 in the Appendix attached to Decree No. 87/2023/ND-CP .

Article 12. Storage of counterfeit money to serve the anti-counterfeit money of SBV

The Issue and Vault Department shall, after analyzing and assessing the counterfeit money of new type, retain and preserve a maximum of 15 notes (or coins) of each type to serve the research, anti-counterfeit money and professional training (excluding counterfeit money or suspected counterfeit money specified in Clause 4 Article 11 of this Circular). The Issue and Vault Department shall monitor, retain, and preserve counterfeit money by denomination, series, and quantity of each type. In cases where it is necessary to retain and preserve more than 15 notes (or coins) of each type, the Issue and Vault Department shall request the SBV Governor to decide.

In cases where it is not necessary to retain and preserve, after the research, anti-counterfeit money and professional training, the Issue and Vault Department shall seal, stamp, and punch holes on the counterfeit money and submit it to the Central Reserve in Hanoi (Reserve I).

Article 13. Information on counterfeit money

1. The Issue and Vault Department (SBV) shall analyze, assess, and notify in writing the identification characteristics of counterfeit money to the Economic Security Department, the Institute of Criminal Sciences (the Ministry of Public Security), the Counter Narcotics Police Department – The Vietnam Border Guard High Command (the Ministry of National Defense), SBV’s branches, Operations Centers, State Treasury to serve the anti-counterfeit money.

2. Upon receiving the written notice of the counterfeit money of new type from the Issue and Vault Department, SBV’s branches shall notify in writing the Head offices of credit institutions and branches of foreign banks in their province.

3. When receiving the written notice of the counterfeit money of new type from SBV, credit institutions and branches of foreign banks shall notify in writing the units in the system to prevent the counterfeit money.

4. In case of necessity, the Issue and Vault Department shall publish on mass media or on the SBV’s website the identification characteristics of counterfeit money in circulation for vigilance and proactive prevention from the organizations and individuals.

Article 14. Statistical report on counterfeit money

SBV’s branches, Operations Centers, credit institutions and branches of foreign banks shall make a report on data of counterfeit money under the SBV’s regulations on statistical report.

Chapter III

IMPLEMENTATION

Article 15. Responsibility for guidance and inspection of implementation

1. The Issue and Vault Department shall guide and inspect the implementation of this Circular; The Issue and Vault Department shall cooperate with relevant units to develop retraining programs for money professional assessment and retraining programs for genuine and counterfeit money recognition; submit it to the SBV Governor for approval.

2. SBV’s branches shall inspect the implementation of the regulations in this Circular by the entities subject to inspection within their jurisdiction.

3. Credit institutions, branches of foreign banks shall be responsible for guiding and inspecting the implementation of this Circular within their system.

Article 16. Effect

This Circular shall come into force from February 14, 2025, replacing Circular No. 28/2013/TT-NHNN dated December 5, 2013 of the SBV Governor.

Article 17. Implementation

Heads of unit affiliated to SBV; credit institutions, branches of foreign banks shall be responsible for the implementation of this Circular./.

Bài viết liên quan