Vietnamese currency is the property of the State. The State Bank issues money and makes regulations to protect Vietnamese currency.
Is it illegal to burn the money you earn?
Article 3 of Decision 130/2003/QD-TTg provides for the protection of Vietnamese currency as follows:
- Making counterfeit money, transporting, storing, circulating, buying and selling counterfeit money.
- Destroying Vietnamese currency in any form.
- Photocopying Vietnamese currency for any purpose without prior written approval of the State Bank.
- Refusing to receive and circulate currency issued by the State Bank within the territory of Vietnam.
Burning money is a violation of the law. (Illustration photo)
Thus, according to the above regulations, the act of burning money you earn is also a violation of the law.
How is burning money punished?
According to Article 31 of Decree 96/2014/ND-CP, violations of regulations on protection of Vietnamese currency will be handled as follows:
1. Warning penalty for one of the following violations:
- Failure to promptly notify the competent authority when discovering new counterfeit money;
- Failure to promptly notify competent authorities when detecting signs of storing, circulating or transporting counterfeit money;
- Arrange for people to collect counterfeit money or temporarily collect suspected counterfeit money who have not been trained in the skills of identifying real and counterfeit money or have not been trained in money appraisal;
- Failure to hand over counterfeit money as required by law.
2. A fine of VND 5,000,000 to VND 10,000,000 shall be imposed for one of the following violations:
- Detect counterfeit money but do not seize it;
- Detect suspected counterfeit money but do not detain;
- Not making a record or seizing counterfeit money, not stamping or punching holes according to the State Bank's regulations on handling counterfeit money or suspected counterfeit money when seizing counterfeit money or temporarily holding suspected counterfeit money.
3. A fine of VND 10,000,000 to VND 15,000,000 shall be imposed for acts of vandalizing or destroying Vietnamese currency illegally.
4. A fine of VND 40,000,000 to VND 50,000,000 shall be imposed for the act of copying, printing, using the layout, part or all of the images, details, and patterns of Vietnamese currency that are not in accordance with the law.
5. Additional penalty: Confiscate all exhibits and means of committing violations in Clauses 2, 3 and 4 of this Article and hand them over to competent authorities for handling.
6. Remedial measures:
- Forced stamping and punching of counterfeit money in accordance with the State Bank's regulations on handling counterfeit money and suspected counterfeit money for violations of the provisions at Point c, Clause 2 of this Article;
- Forced destruction of all exhibits and means used to commit the violation specified in Clause 4 of this Article;
- Forced to pay into the state budget the illegal profits obtained from committing the violation specified in Clause 4 of this Article.
Thus, the act of burning money you earn will be fined from 10 to 15 million VND and all evidence and means of committing the violation will be confiscated.
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