3619 ARRESTED IN CHINA FOR PRINTING, SELLING FAKE BANKNOTES

BY VINCENT LOW

BEIJING, Sept 9 (Bernama)-- Chinese police have arrested 3,619 suspects involved in printing and selling fake banknotes and seized 684 million yuan (RM342 million) in counterfeit money since launching a crackdown on counterfeiters in January.

"Suspects from the southern Guangdong province topped the list, involving
1,807 cases," said Zhang Tao, deputy director of the criminal investigation
bureau of the Ministry of Public Security at a press conference held at the
State Council information office here Wednesday.

"Guangdong Province is the main source of counterfeit money, whereas nearby
Anhui, Henan and Hunan provinces are points for processing and circulation of
fake banknotes."

Zhang said the fake banknotes were mainly of 100 yuan denomination, but
smaller denominations like 50 yuan, 10 yuan and even fake coins were on the
increase.

According to statistics, counterfeit banknotes of smaller denominations
seized by the authorities since 2005 had increased six fold.

Zhang added, police had noted a small portion of fake banknotes were from
Taiwan.

"Most of the 100 yuan fake notes were printed in Guangdong. Police have
seized such bank notes amounting to over 100 million yuan," he said, adding that
police had also crippled four syndicates dealing in fake coins in
in Xinhua city, Hunan Province.

He urged the people to pay more attention to transactions taking place at
small retail outlets and at farm markets, as these places were where the
suspects often tried to spend fake notes for change.

-- BERNAMA