Currency Bill promises harsher punishment for counterfeiting offences

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The Currency Bill 2019 was tabled for its first reading today. — Reuters pic
The Currency Bill 2019 was tabled for its first reading today. — Reuters pic
UALA LUMPUR, Oct 7 — Any person issuing, printing or minting the Malaysian currency without the approval of Bank Negara Malaysia (BNM) shall be liable to a fine of not exceeding RM50 million and imprisonment to a term of not exceeding 10 years, or to both.

This is among the provisions under the Currency Bill 2019, which was tabled for the first reading by Deputy Finance Minister Datuk Amiruddin Hamzah before Dewan Rakyat speaker Tan Sri Mohamad Ariff Yusof today.

The Bill will be presented for the second reading for debate during the current session of the Dewan Rakyat which runs until Dec 5.

Currently, copying or reproduction of Malaysian currency and coin without BNM's permission are liable to a fine of not more than RM5,000 upon conviction.

Among other provisions in the Currency Bill 2019, no person shall use any picture, drawing or design resembling a currency note or coin in any publication of any size, scale or colour, without the approval of BNM.

If convicted, the person involved can be fined not more than RM50,000. — Bernama

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