On Jan. 7, 2025, VIE CB issued finalized circular dated Dec. 31, 2025, to enhance the legal framework for combating counterfeit money and protecting Vietnamese currency.
Provides detailed procedures for seizing, marking, storing, transferring, and examining counterfeit or suspected counterfeit money, and reporting and statistical requirements.
Circular also outlines responsibilities for implementation, inspection, and enforcement.
The circular will take effect on Feb. 14, 2025.
Document dated Jan. 7, 2025, received from VIE CB Jan. 8, summarized on Jan. 9.
On May 7, VIE CB proposed guide on handling of counterfeit money.
VIE CB proposed draft circular on handling counterfeit and suspected counterfeit money in the banking industry, intended to replace circular no. 28/2013/TT-NHNN.
Proposal
Definition re counterfeit money has been clarified, including more precise descriptions of security features used to identify, differentiate genuine from counterfeit money.
Procedures for detecting and handling counterfeit money have been streamlined and updated, including specifying actions to be taken by branches of VIE CB and other FIs.
Revised instructions on how to deal with suspected counterfeit money, emphasizing non-return to customers, outlining steps for its proper seizure, and documentation.
Removed certain redundant provisions of the circular and added new requirements for reporting and documenting counterfeit currency incidents, to align with current laws.
Effectiveness
The consultation is open for opinions but there is no consultation end date mentioned.
Jan. 2025 Circular Finalized
On Jan. 7, 2025, VIE CB issued finalized circular dated Dec. 31, 2025, to enhance the legal framework for combating counterfeit money and protecting Vietnamese currency.
Provides detailed procedures for seizing, marking, storing, transferring, and examining counterfeit or suspected counterfeit money, and reporting and statistical requirements.
Circular also outlines responsibilities for implementation, inspection, and enforcement.
The circular will take effect on Feb. 14, 2025.
Document dated Jan. 7, 2025, received from VIE CB Jan. 8, summarized on Jan. 9.