How is it punished to exchange change of change to make a profit during Tet?

Lawyer Nguyen Thi Thuy, YouMe Law Firm LLC, replied:

Clause 1, Article 12 of Circular No. 25/2013/TT-NHNN regulating the collection and exchange of money that does not meet the circulation standards prescribed for State banks, branches, and State Bank Transaction Departments as follows:

1. Collecting and exchanging money that does not meet circulation standards for organizations and individuals.

Clause 2, Article 13 of Circular No. 25/2013/TT-NHNN regulating the collection and exchange of money that does not meet the circulation standards prescribed for credit institutions, foreign bank branches, and the State Treasury as follows:

2. Collecting and exchanging money that does not meet circulation standards for organizations and individuals.

Point a, Clause 5, Article 30, Chapter II of Decree No. 88/2019/ND-CP stipulates administrative sanctions in the field of currency and banking, accordingly stipulating a fine of VND 20,000,000 to VND 40,000,000 for one of the following violations, including:

a) Exchanging money in violation of the law;

Point b, Point c, Clause 3, Article 3 of Decree No. 88/2019/ND-CP regulating administrative sanctions in the monetary and banking sectors stipulates the form of sanctions, fine levels, penalty authority and remedial measures as follows:

b) The fine level prescribed in Chapter II of this Decree is the fine level applied to individuals; the fine level for organizations committing the same administrative violation is twice the fine for individuals;

c) The fine for violations by individuals working at people's credit funds or microfinance institutions is equal to 10% of the fine prescribed in Chapter II of this Decree; the fine for people's credit funds, microfinance institutions, and affiliated units of these institutions is twice the fine for individuals working at people's credit funds or microfinance institutions;

Thus, individuals and organizations that do not have the function but exchange new change for profit may be subject to a fine of VND 20,000,000 to VND 40,000,000 for individuals and VND 40,000,000 to VND 80,000,000 for organizations.

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