To enhance the Central Banks' Cooperation in Banknotes Counterfeit Deterrence in Cambodia, Laos and Vietnam, the conference of three central banks was held on Friday, July 28th, in Hanoi. This was the first event in a series of common activities to implement the memorandum of understanding signed by Vietnam, Laos and Cambodia in February 2017 regarding banknotes counterfeit prevention and national monetary security.
SBV Deputy Governor Dao Minh Tu
At the Conference, unanimous opinions stated that counterfeiting banknotess is a national issue with numerous tricks that are getting increasingly sophisticated and complex. It would not be enough with one nation’s effort in fighting and preventing this type of crime. Therefore, it is necessary to have close and effective cooperation among countries, especially those countries within common borders.
Enhancing central banks’ cooperation in banknotes counterfeit deterrence among Cambodia, Laos and Vietnam
Speaking at the closing session, SBV Deputy Governor, Mr. Dao Minh Tu, affirmed that the success of the Conference contribute to deepening the close co-operative relationship between the three central banks. It opened a new stage of development of the collaboration between the three countries, three central banks in the field of printing, issuing banknotes and preventing counterfeit banknotes.
SBV Deputy Governor Dao Minh Tu
In order to effectively persecute the cooperation between the three central banks for the aim of accelerating common activities to decisively fighting against counterfeit banknotes, the Conference agreed to promote some key contents among the three countries in the coming time, as follows:
Firstly, continue to promote comprehensive, deepening and more effective cooperation between the three countries in several fields in accordance with the Memorandum of Cooperation signed by the Central banks’ Governors of the three countries. Encouraging and creating favorable conditions for Vietnam, Laos and Cambodia commercial banks to establish cooperation, trade and investment presence in the three countries; Improving the quality and effectiveness of cooperation on the principle of ensuring mutual benefits and the spirit of special relations in line with laws of each country and create a strong transformation in cooperation between the three countries.
Secondly, to expeditiously organize the effective implementation of the Agreement on enhancing bilateral cooperation in the printing, issuance of banknotes between the central banks of the three countries; Effectively ccooperate in preventing banknotes counterfeiting.
Thirdly, the central banks of the three countries will work more closely with the other governmental agencies and local authorities and promote communication and information on preventing, detecting, fighting and handling crime of producing, storing, transporting, selling counterfeit banknotes. For the issue of border control, the authorities of 3 countries shall have to pay more attention to accelerate the cooperation to handle the additional issues regarding to the counterfeit banknotes.
Fourthly, central banks continue to instruct credit institutions in Vietnam to be deeply aware of the special cooperation between the central banks of three countries Vietnam - Laos - Cambodia in the areas of planning and implementation of monetary policy, Issuing and vaulting, banking supervision, human resource development ... to create a strong transformation, to promote comprehensive cooperation in monetary and banking field.
Fifthly, to direct municipal branches of the three central banks, espeially those branches in bordering regions; provinces and cities of Vietnam, Laos and Cambodia to strengthen common activities and coordination of information and communication on cooperation agreements among three central banks; To take mmeasures in coordinating with governmental agencies in the regions, provinces and cities to promote collaboration in handling the counterfeit banknotes crossing the borders.
The credit institutions of Vietnam, Laos and Cambodia, especially Vietnam credit institutions with branches in Laos and Cambodia should coordinate closely with the authorities, central banks in the host country to grasp the situation of counterfeit banknotes, purchasing and selling, transporting counterfeit banknotes and the criminals’ methods and techniques of counterfeiting banknotes; To proactively and intensively train the staff to recognize counterfeit banknotes especially the oficers of State treasurer, trade management of the three countries Vietnam, Laos and Cambodia in combining with equiping latest equipments of cash counting and classifying machines, ... Using several currencies for purchase at the border areas have posed several risks of counterfeit banknotes, threatening monetary circulation and security and stability in each country. At the event, representatives of three central banks signed an agreement on bilateral cooperation on banknotes printing and counterfeit deterrence.
Van Anh Thoa Le