Regulations Governing the Handling of Counterfeit and Altered Foreign Currency Notes and Coins
2010-04-07
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Article 1
These Regulations are prescribed pursuant to Article 18-2 of the Central Bank of the Republic of China(Taiwan) Act.
Article 2
Upon discovering that the foreign currency notes or coins presented by a customer for exchange are counterfeit (altered), the handling financial institutions and other enterprises authorized by the Central Bank of the Republic of China (Taiwan) to engage in foreign exchange business (hereinafter collectively referred to as the "handling institutions") shall inform the owner of the fact on the spot, and in addition, stamp “Counterfeit (Alteration) - Void”thereon in the case of counterfeit (altered) notes, and nip the corner in the case of counterfeit (altered) coins, and with the consent of the owner, retain the original notes or coins while issuing a receipt to the owner.
Article 3
Where the counterfeit (altered) foreign currency notes or coins discovered meet any of the following conditions, a handling institution shall immediately record the real name, nationality, occupation and address of the owner and report the matter to the police for investigation:
1.The total value of counterfeit (altered) foreign currency notes and coins presented for exchange
is 200 USD or more, or equivalent thereof; or
2.The total value of counterfeit (altered) foreign currency notes and coins presented for exchange
is less than 200 USD or equivalent thereof, but the owner looks suspicious or declines to let the
handling institution retain the original notes or coins.
1.The total value of counterfeit (altered) foreign currency notes and coins presented for exchange
is 200 USD or more, or equivalent thereof; or
2.The total value of counterfeit (altered) foreign currency notes and coins presented for exchange
is less than 200 USD or equivalent thereof, but the owner looks suspicious or declines to let the
handling institution retain the original notes or coins.
Article 4
A handling institution should set up a file and safekeep the counterfeit (altered) foreign currency coins and notes it retains, unless it is necessary to turn them over to the Investigation Bureau of the Ministry of Justice or the International Criminal Police for examination and investigation. For counterfeit (altered) foreign currency notes and coins that have been kept for more than five (5) years, the handling institution may, together with its accounting department, destroy such notes and coins while maintaining a record of them.
Article 5
These Regulations shall become effective on the date of promulgation.