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SCMP Reporter

Police warn Hongkongers to be careful with their money, as the highest-ever quality counterfeits are being discovered in the city

More than  700 counterfeit HK$1,000 banknotes have been discovered in a week.

This prompted police to warn the public to beware of the fakes.

Police said on Thursday they had seized about 300 bogus HK$1,000 bills.

The number of  banknotes seized by police   doubled to 710 only two days after officers issued  their warning.

Described by police as  the best quality counterfeit notes ever seized by the force,  the fakes could not be easily detected under ultraviolet light, and contained metal threads and watermarks. This makes them more difficult to identify, even for banks.

The  notes also incorporated other security features, such as a holographic window thread and concealed denomination.  They also had an embossed feel, according to a top counterfeit expert from the Commercial Crime Bureau.

Chief Inspector Michael Yu Shi-cheung said most of the fakes had different serial numbers, with only four or five the same.

'This is the first time we have discovered counterfeit notes embedded with a holographic window thread that is in one piece.

'In the past, the thread was made up of tiny pieces and stuck on,' Chief Inspector Yu said.

He said the forgeries were in the form of the HSBC-issued HK$1,000 notes of the 2000 or 2002 series.

A small number of the fake notes were not spotted when they were deposited with banks.

'We are afraid that some counterfeit banknotes have already been put into circulation,'  said Chief Inspector Yu.

'So we would like to alert the public to ... remain cautious while receiving HK$1,000 banknotes.'

He said automatic teller machines did not accept the fakes.

Police Commissioner Tang King-shing said he was 'very concerned' about the influx of the high-quality notes.

He added that initial investigations showed they had originated outside Hong Kong.

A total of 12 people believed to be linked to fakes  have been arrested.

The individuals were from Hong Kong, the mainland and Vietnam. All were detained for questioning. No charges have been laid.

The commissioner said the public should be careful when accepting HK$1,000 notes. A police hotline set up to take reports and complaints had received 13 calls by yesterday, a police spokesman said. Most callers asked how to identify the fake notes.

These are edited versions of articles by Clifford Lo and Norma Connolly which appeared in the South China Morning Post on March 16 and 18

Discussion

Why are police concerned about the increased numbers of fake banknotes?

Enquiry

What do people who call the police hotline want to know?

How are criminals managing to make such high-quality fake notes?

Would you be able to spot a counterfeit note?

Factbox

More than 700 counterfeit HSBC HK$1,000 banknotes - dated 2000 and 2002 - were seized by the police last week. A total of 12 people - from Hong Kong, the mainland and Vietnam - were arrested.

Seizures of counterfeit HK$1,000 bills have risen sharply in recent years, with 1,416 discovered by police last year, compared with 403 in 2005 and 281 in 2004.

On March 11, police raided a Tai Po flat and found 58 fake HK$1,000 notes, but those were of lower quality than the hundreds of others discovered throughout the week.

Some shops have stopped taking HK$1,000 notes, and ATM users prefer taking HK$500 or HK$100 notes.

In Macau, where 73 counterfeit HK$1,000 notes were found, new casino the Grand Lisboa said it would alert staff to pay extra attention to HK$1,000 banknotes.



The colour of money