Seventy-one suspected fake $1,000 banknotes were discovered in a Sheung Shui bank yesterday. The discovery came as Hong Kong Monetary Authority chiefs met to identify possible new security features following the recent spate of forged notes found in the SAR. The suspected fakes found yesterday - all copies of Hongkong Bank notes dated 1993 and 1995 - were discovered when a 46-year-old woman tried to deposit $120,000 at a Bank of China branch in San Fung Avenue just after 9am. Police were called when a cashier became suspicious. The woman trying to deposit the cash told officers she was doing so for a friend. She was arrested for alleged possession of counterfeit banknotes. A raid on her Yuen Long home failed to uncover any more notes. Last month, five people were arrested and 217 fake $1,000 bills seized when they tried to deposit the money in two different banks in Sheung Shui. The five claimed they had collected the money on the mainland after business transactions. The recent appearance of forged notes was described as serious when officials from the Monetary Authority and the three note-issuing banks met to discuss security. While noting that the scale of the problem was not large by international standards, the Bank Notes Issue Advisory Committee agreed that the matter was serious and advised that more measures were necessary. A spokesman for the Monetary Authority said the committee had decided on new security features that would be incorporated when new notes were printed. 'After the necessary technical preparations have been put in place, the new features could, if required, be introduced in advance of the more comprehensive review of bank note design which is currently in progress,' the spokesman said. 'For obvious reasons we cannot give details of the new security features identified by the committee.' A publicity campaign on the changes would be launched when necessary but any advance information would simply play into the hands of criminals. Latest figures show a total of 7,501 fake notes in different denominations were discovered and 39 people arrested for fake cash offences in the first six months of the year. Last year, 6,588 fake notes were found. Although thousands of fake notes are found each year, top counterfeit expert Michael Yu Shi-cheung from the Commercial Crime Bureau said no counterfeit Bank of China bills had been found since the bank began issuing bills in 1994. Star Cyberpower Holdings chairman Wong Kam-fu, a former Beijing Hong Kong affairs adviser, said the Government should standardise banknotes and he recommended the adoption of his patented bar code system.