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Fake banknotes had real watermarks
By Tom Qian |
May 21, 2009, Thursday
|
Online Edition
Online Edition
POLICE in Guangdong Province have arrested two men involved in a fake banknote scam that involved cutting watermarks from real banknotes.
The genuine watermarks were placed on fake notes and paid to migrant workers. Guangzhou Daily reported today.
Bundles of forged notes with a working metal strip were laundered through ATMs into accounts. But to pay migrant workers, police said the two needed notes that would pass a visual check. Hence the addition of the watermarks.
Foshan residents began complaining to the police in April about receiving fake banknotes from a local bank. The bank said the notes were a new type of forgery.
The two men from Huaiji were caught with fake banknotes on them worth more than 3,000 yuan (US$439). They allegedly deposited banknotes with fake watermarks through ATMs.
Foshan police have confiscated fake banknotes with a face value of more than 119,000 yuan this year, most of the serial numbers begin with "HD90."
The genuine watermarks were placed on fake notes and paid to migrant workers. Guangzhou Daily reported today.
Bundles of forged notes with a working metal strip were laundered through ATMs into accounts. But to pay migrant workers, police said the two needed notes that would pass a visual check. Hence the addition of the watermarks.
Foshan residents began complaining to the police in April about receiving fake banknotes from a local bank. The bank said the notes were a new type of forgery.
The two men from Huaiji were caught with fake banknotes on them worth more than 3,000 yuan (US$439). They allegedly deposited banknotes with fake watermarks through ATMs.
Foshan police have confiscated fake banknotes with a face value of more than 119,000 yuan this year, most of the serial numbers begin with "HD90."
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