In response to media reports about so-called high quality 100-yuan banknotes starting with the serial number of HD circulating in a number of provinces, the PBC spokesman denied allegedly frequent cases of counterfeit banknotes and pointed out that the volume of banknotes seized both by financial institutions and by public security agencies remains flat this year, indicating the counter fake money campaign is in a normal state.
It was noted that the so-called high quality and difficult-to-identify counterfeit money, discovered as early as in 2007, used Letterpress printing method, similar to other fake money. The paper, watermark, security thread, OVI denomination numeral, and see-through register pattern of fake banknotes are quite different from those of authentic ones. Banknote holders can identify fake money by feeling with hand or by the naked eye. Commercial banks counterfeit-money detectors and ATM can work against fake money, hence fully capable of protecting depositors.
It was mentioned that China has paid great attention to the counter fake money campaign, which has made gradual progress through joint efforts by concerning authorities acting in the principle of attaching equal importance to cracking and preventing money counterfeiting, and treating both symptoms and root causes . Public security agencies have detected a great number of major cases. The PBC, in collaboration with other government agencies, have reached out to outlying rural regions to educate the public on how to identify fake money.
It was emphasized that RMB banknotes are the name card of the country; therefore, it is a duty for all to fight against counterfeit money. According to the Criminal Law of China, those who knowingly hold and use counterfeit money shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, if the amount involved is huge. The public is encouraged to learn how to identify fake money through various channels and report fake money cases immediately.
