China’s Central Bank Intensifies Campaign against Fake Money

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Jan. 13 – China’s central bank has intensified efforts to curb the circulation of counterfeit money before the start of the Spring Festival holiday.

The Shanghai Headquarters of the People’s Bank of China (PBOC) told Xinhua that it is working closer with the public security and commerce authorities to combat counterfeit renminbi.

More than 10 Chinese provinces and cities have reported that exceptionally well-made fake RMB100 notes were found to be in circulation with the serial number starting with “HD90.”

PBOC has instructed commercial banks to improve on their counterfeit detection system while also urging nonbanking businesses be wary and upgrade detectors.

Counterfeit detector manufacturers were also told to develop upgraded versions of their products.

RMB100 note

A security alert email sent by HSBC Bank (China) to China Briefing outlined seven indicators of a real RMB100 bill:

1) When the bill is tilted horizontally the number, 100, can be read. On a fake RMB100 note the number can be read at all angles.

2) A real RMB100 note will have distinct ridges found on the side markings, border and Mao’s right shoulder.

3) When the bill is held up against the light, the security thread continuously runs from top to bottom in a solid line as opposed to a fake bill that would have gaps.

4) When the bill is held up against the light, the two halves form the shape of a Chinese coin.

5) A watermark of the number 100 is transparent when held up against the light.

6) The number 100 is printed using color-shifting ink that changes from green to blue.

7) The quality of the paper used to print RMB100 bills is more flexible, something akin to paper fabric. In addition, the watermark of Mao’s profile should be clear when held up against the light.