Is using counterfeit money punishable by imprisonment?
(Baonghean.vn) - Ms. Kha Thi An from Con Cuong district asks: What constitutes counterfeit money? Will using counterfeit money lead to imprisonment?
Reply
Clause 1, Article 3 of Circular 28/2013/TT-NHNN, which regulates the handling of counterfeit and suspected counterfeit money in the banking sector, states the following: counterfeit money is money that resembles Vietnamese currency but is not printed, minted, or issued by the State Bank of Vietnam.
Counterfeit money is currency not issued by the state, as it is created by organizations or individuals for the purpose of illegal profit.
The use of counterfeit money is a prohibited act under the law, and anyone who commits this act may be prosecuted criminally.
The use of counterfeit money constitutes the circulation of counterfeit money and is therefore punishable under Article 207 of the 2015 Penal Code, as amended in 2017, as follows:
- Anyone who makes, possesses, transports, or circulates counterfeit money shall be sentenced to imprisonment from 3 to 7 years.
- If the counterfeit money is valued between 5,000,000 VND and less than 50,000,000 VND, the penalty is imprisonment from 5 to 12 years.
- Committing the crime in cases where the counterfeit money has a value equivalent to 50,000,000 VND or more shall be punishable by imprisonment from 10 to 20 years or life imprisonment.
- Those who prepare to commit this crime shall be punished with non-custodial correctional measures for up to 3 years or imprisonment from 1 to 3 years.
- Offenders may also be fined from 10,000,000 VND to 100,000,000 VND or have part or all of their property confiscated.
Therefore, depending on the nature and severity of the offense, individuals who engage in the use of counterfeit money may be sentenced to imprisonment ranging from 3 to 20 years or life imprisonment. Additionally, offenders may also be fined from 10,000,000 to 100,000,000 VND or have part or all of their assets confiscated.
