Huizhou police crack counterfeiting ring, seize 90m yuan in fake notes
Huizhou police have cracked a massive counterfeiting ring, confiscating about 90 million yuan (HK$102 million) in fake notes, according to media reports.
Nine people were arrested in Huizhou during the operation on Monday, and three more were arrested in other Guangdong cities, Guangzhou newspapers reported.
Prompt action against the gang ensured that none of the fake notes they manufactured was put into circulation, a police spokesman said.
This is the third time Huizhou police have cracked a banknote counterfeiting ring in recent years.
Fake 100 yuan notes with a face value of about 362 million yuan were seized during operations in 2005, leading to the arrest of 11 people.
The operation on Monday was prompted by intelligence showing several non-Huizhou residents had set up a fake banknote workshop in the city, the Guangzhou-based Nanfang Daily said.
Police started surveillance of the workshop on Friday.
The operation was part of a national campaign to stamp out currency counterfeiting.
Discussion has mounted on the mainland, especially in coastal areas, since late last year about the appearance of high-quality counterfeit 100 yuan notes with serial numbers beginning with HD90 and HB90.
Of the provinces singled out by the Ministry of Public Security, Guangdong is regarded as a major source of counterfeit money.
The ministry said it had talked to Hong Kong and Macau police about cross-border co-operation on the issue.