Customs takes drastic measures to prevent gold and foreign currency smuggling

Fighting against smuggling and illegal trading of gold

Five tael of gold are seized by the Customs and Border Guard of Tinh Bien Border Gate, An Giang. Photo: T.T

Over the past time, the world and domestic gold and foreign currency markets have fluctuated strongly, affecting the stability and safety of the financial and currency markets and social psychology.

Currently, the smuggling and illegal transportation of gold and foreign currency emerged when gold prices and foreign exchange rates have differed compared to other countries in the world. The domestic price of SJC gold bars is even higher than the world price.

On May 14, the leader of the GDVC signed and promulgated a plan to control smuggling and illegal transportation of gold and currency across borders.

The promulgation of the Plan aims to effectively follow the direction of the Minister of Finance in Official Dispatch No. 4847/BTC-VP dated May 4, 2024, improve the effectiveness of anti-smuggling and illegal transportation of gold and currency across the border, protect the legitimate rights and interests of individuals, organizations, production and business enterprises, and consumer rights, contributing to stabilizing the domestic gold and currency markets and developing society; and proactively control the situation, detect and promptly prevent the smuggling and illegal transportation of gold and currency across borders.

The GDVC’s leader has directed relevant units to strictly control customs control area, ensure security, social order and safety, and stabilize and secure the gold market, protect consumers, and prevent loss of State revenue.

The units need to proactively control the situation, detect, combat, promptly and strictly handle smuggling and illegal transportation of gold and currency across borders; prevent the management area from becoming a hot spot for smuggling activities and illegal transportation of gold and currency across borders.

The implementation of the Plan must comply with the provisions of law, create favorable conditions for production, business, import-export, and immigration activities, without affecting operations of organizations and individuals.

The units need to raise awareness and responsibility in performing public duties, proactively arrange human resource to take measures for customs control and inspection; not to support or cover up smuggling, trade fraud, or illegal transportation of goods across borders; detect and promptly handle violations.

The GDVC also specifies key contents and tasks for relevant units to implement in the plan.