NEW counterfeit-proof $1,000 banknotes will be printed by the Government soon, following a surge in the numbers of fake notes circulating in territory.
The Chief Executive of the Hong Kong Monetary Authority, Joseph Yam Chi-kwong, said that the new $1,000 notes would have added security features.
'We will try to have the new notes out quickly, but we don't want to reveal too many security features because we don't want the recalcitrants to print some more,' Mr Yam said after launching a campaign to raise public awareness of fake banknotes.
Counterfeit notes of all denominations have surfaced this year but the $1,000 bill is the most prevalent.
Thousand-dollar notes make up about five per cent of the number of Hong Kong banknotes in circulation and 47 per cent of the total value of the note issue.
This month, a woman trying to deposit $120,000 at a bank was arrested when 70 of the $1,000 banknotes were found to be fake.
