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Banks join bid to foil note counterfeiters

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The other two note-issuing banks are to issue new $1,000 bills featuring improved security features today, six months after HSBC launched similar measures to beat counterfeiters.

The Standard Chartered Bank and Bank of China notes feature a holographic thread with a highlighted watermark showing the number 1,000 which will show as text if held against the light. Fluorescent fibres in red, blue and green can be seen scattered randomly when viewed under ultraviolet light.

Standard Chartered will issue six million of the new notes and Bank of China 25 million.

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Deputy chief executive of the Hong Kong Monetary Authority, Tony Latter, said: 'We were prompted to enhance security features by reports of counterfeits last year.' He said the HSBC launch had been a success and there had been no reports of counterfeits of the new version.

So far this year 245 forged old-style $1,000 notes have been recovered and 59 per cent of the old HSBC notes withdrawn.

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Last year, a record number of fake notes was discovered with 9,826 $100 bills, 379 $500 notes and 3,204 $1,000 bills seized.

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