Is using counterfeit money punishable by imprisonment?
(Baonghean.vn) - Ms. Kha Thi An in Con Cuong district asked what is considered counterfeit money? Will using counterfeit money result in jail time?
Reply
Clause 1, Article 3 of Circular 28/2013/TT-NHNN stipulates the handling of counterfeit money and suspected counterfeit money in the banking sector as follows: counterfeit money is money made to look like Vietnamese money but not printed, minted, or issued by the State Bank.
Counterfeit money is money that is not issued by the state because this type of money is created by organizations and individuals with the goal of illegal profiteering.
The act of using counterfeit money is an act prohibited by law and anyone who commits this act may be prosecuted.
The use of counterfeit money is considered a form of counterfeit money circulation and should be punished according to the provisions of Article 207 of the 2015 Penal Code, amended and supplemented in 2017 as follows:
- Anyone who makes, stores, transports or circulates counterfeit money shall be sentenced to imprisonment from 03 to 07 years.
- Committing a crime in case the counterfeit money has a value equivalent to from VND 5,000,000 to under VND 50,000,000, shall be punished with imprisonment from 05 years to 12 years.
- Committing a crime in case the counterfeit money has a value equivalent to 50,000,000 VND or more, shall be punished with imprisonment from 10 to 20 years or life imprisonment.
- A person who prepares to commit this crime shall be subject to non-custodial reform for up to 03 years or imprisonment from 01 year to 03 years.
- The offender may also be fined from 10,000,000 VND to 100,000,000 VND or have part or all of his/her property confiscated.
Thus, those who consume counterfeit money, depending on the nature and severity, will be imprisoned from 03 years to 20 years or life imprisonment. At the same time, the offender may also be fined from 10,000,000 VND to 100,000,000 VND or have part or all of their assets confiscated.
