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Tougher Crackdown on Counterfeit Currency

Tougher Crackdown on Counterfeit Currency

Write: Sylvan [2011-05-20]

4th Joint Conference of the State Council on Cracking Down Counterfeit Currency Convened

On January 16, the 4th session of the Joint Conference of the State Council on Cracking Down Counterfeit Currency was convened. Mr. MA Delun, Vice Governor of the PBC, presided over the meeting.

It is pointed out that, with the guidance of the CPC Central Committee and the State Council and with the support of the general public, the PBC, in coordination with other relevant agencies, has made preliminary achievements in cracking down on counterfeit currency in recent years. First, with the platform of the joint conference, relevant agencies have established an information sharing mechanism to conduct adequate communication.

Second, intensified efforts have been made in areas featuring high concentration of fake money-related crimes, especially where the counterfeit yuan notes are forged. Several major cases have been successfully tracked down. Third, anti-counterfeit currency education has been carried out in both urban and rural areas.

Fourth, long-term mechanism of anti-fake banknote education has been improved, preliminarily setting up an education network. Fifth, a well-structured counter-fake money team has been established. Sixth, timely analysis has been made on the latest developments of anti-fake money work. According to statistics, banknote forging is occurring frequently around the world, and counterfeit foreign currencies have been seized within Chinese border.

As for the so-called high-quality 100-yuan counterfeit banknotes with serial number beginning with HD in some regions reported by the media recently, the conference stated that reports from financial institutions and police departments show the number of fake yuan notes seized recently has not increased much, and the fight against fake money remains normal by far.

Like other fake yuan notes, the batch starting with HD is not of so-called high quality , which can be identified by the naked eye and by hands. Fake money detectors and ATMs of commercial banks are able to spot the fake HD-series notes and ensure safe cash withdrawal for the public.

The conference urged its members to take tougher and comprehensive measures in countering forged banknotes. First, on the platform of the joint conference, the PBC, the Ministry of Public Security, the General Administration of Customs, State Administration for Industry and Commerce. Second, members of the joint conference should take on due responsibilities and make concerted efforts.

The public security organs should intensify their crackdown on the forging and selling of fake banknotes. The industrial and commercial administrations and quality supervision authorities should carry on more checks to deny the access of unqualified fake notes identifiers into the market. Customs and transport authorities should cut off the sales channels of fake notes by intensifying checks on ports, waterways and railroads.

The Ministry of Culture and the State Administration of Film, Radio and Television should coordinate with news agencies to better disseminate the knowledge of RMB to help the public identify fake notes.

Long-term, comprehensive and intensified efforts should be made in the crackdown of counterfeit currency, so as to safeguard the public interests in an effective manner.