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Get tough on forgers, govt says

By Tan Yingzi and Xin Dingding (China Daily)
Updated: 2009-01-17 09:21

The State Council called for strengthened efforts to combat counterfeit bills on Friday at a conference held by the central bank, the Ministry of Public Security and representatives from major domestic banks.

Fake banknotes, starting with HD90, have been found in more than 10 provinces, autonomous regions and municipalities since the end of last month.

Forged yuan notes have also appeared in Hong Kong and Taiwan recently. Taiwan police seized fake banknotes totaling 100 million yuan ($14.6 million) after smashing a syndicate that printed the counterfeit currency this week.

The police should intensify their crackdown on the making and selling of fake notes, while industrial and commercial administrations and quality supervision authorities should carry on more checks to prevent unqualified banknote identifiers from entering the market, the central bank said on Friday in a statement on its website.

Customs and transport authorities should cut off the sales channel of fake notes by intensifying checks on ports and waterways, it said.

Despite the increased media reports, the central bank insists that reports from domestic financial institutions and police departments show the number of fake yuan notes seized recently has not increased much.

"So far, the fight against the counterfeiting of the yuan currency remains normal in China," the bank said.

"The HD fake notes do not have so-called high quality and they are just like other forged currencies," the statement said.

"They have obvious distinctions and it is not hard to tell them from the authentic ones with naked eyes and hands," it said.

All ATMs and the detectors of commercial banks can spot the fake HD-series notes, the central bank said.

"It is safe to deposit or withdraw yuan bank notes through the banks," it said.

In recent years, police have successfully tracked down several major fake banknotes cases, the central bank said.

Under criminal law, people who intentionally carry and use large numbers of fake banknotes will be detained or sentenced to less than three years in prison.

Transporting fake banknotes totaling more than 200,000 yuan could fetch a person life imprisonment.