Police issue counterfeit warning over high-quality RMB notes
Updated: 2009-01-14 07:27
By Teddy Ng(HK Edition)
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HONG KONG: Police have issued a warning to businesses and consumers to be on watch for extremely high-quality, counterfeit 100-yuan Renminbi notes.
The hard-to-detect bogus Chinese banknotes began appearing recently in mainland cities and could turn up here.
The Commercial Crime Bureau's acting chief inspector John Yuen Kam-leung urged the public to scrutinize the serial numbers of 100-yuan RMB bills. He noted, many of the counterfeit RMB currency had serial numbers starting with "HD." But he cautioned, people should also take a close look at other security features on the bank notes.
Genuine Renminbi notes are printed with a gravure technique, and users can feel the embossed pattern.
The color of the note's denominated value changes from green to blue when viewed from different angles.
The paper of the genuine notes is more pliable, Yuen added.
Yuen said only looking at the serial number does not fully protect the consumers' interest.
Police said more fake Renminbi notes turned up in Hong Kong last year. Most of the notes, however, were of poor quality, the police statement said.
Police seized 10,314 fake Renminbi notes last year, up from 8,992 in 2007. Bogus 100-yuan notes comprised more than 83 percent of the counterfeit bills seized.
The number of fake notes seized in the third and fourth quarter was 4,499, lower than the 5,815 seized in the first half of 2008.
Fake Renminbi notes denominated at 100 yuan turn up frequently in mainland cities. Financial institutions on the mainland have stepped up investigation and enhanced mechanisms for identifying counterfeit currency.
Some 30 percent of the fake notes seized in Hong Kong had serial numbers that started with HD, but most are readily identified as counterfeit.
"Some 90 percent of the fake notes we have seized are produced with an offset printing technique. The remaining 10 percent are produced with laser printing or ink jet printing. There is no cause for public alarm," he said, adding that simple precautions can reduce the likelihood of receiving counterfeit money.
"The syndicates often change the numbers," he said.
He also urged community users to be more cautious when using Renminbi.
Taxi drivers and staff in massage parlors, entertainment venues and food centers will swap the customers' genuine notes with fake notes, he added.
"The syndicates can swap the notes very quickly so that customers are not aware," he said.
He counseled, customers can memorize the last few digits of their genuine notes to see if they are swapped.
Yuen said persons producing, using or possessing fake bank notes are subject to a maximum penalty of 14-years imprisonment under the Crimes Ordinance.
Community members can refer to the People's Bank of China's website www.pbc.gov.hk, or the Hong Kong Monetary Authority's website www.hkma.gov.hk for further details about Renminbi.
(HK Edition 01/14/2009 page1)