Fake currency worth over $18 mn seized in China
July 23rd, 2012 - 3:00 pm ICT by IANSBeijing, July 23 (IANS) Fake currency notes worth 118 million yuan ($18.5 million) have been seized and 463 suspects were arrested for counterfeit money related crimes in a special crackdown across China, said authorities.
In one case, police in south China’s Guangdong province arrested four suspects and confiscated nearly-finished fake notes worth more than 80 million yuan as well as manufacturING equipment in May, according to a statement by the public security ministry.
The crackdown is part of a special campaign launched in March against economic crimes, reported Xinhua.
“Fake note cases and the amount of fake notes discovered by financial institutes have been decreasing under sustained crackdown,” said the statement.
Figures from the ministry show that a total of 2,821 suspects have been arrested for counterfeit money-related crimes since 2010, and four were given death penalty for manufacturing fake notes.
- Over 400 held, fake notes seized in China - Jul 22, 2012
- Gambling racket busted in China, 800 held - Mar 31, 2012
- Napkin counterfeit ring smashed - Aug 22, 2012
- 96 Chinese held in fake medicine racket - Nov 30, 2011
- China busts multi-million-dollar fake drugs racket - Nov 29, 2011
- 1,900 held in China fake drug racket - Aug 05, 2012
- China cracks 28,000 IPR violation cases - Nov 06, 2011
- Swindlers use phone tricks to con Chinese people - Jun 18, 2011
- 207 million yuan in fake currency seized in China - Jun 11, 2010
- Fake items worth over $300 mn seized in China - Nov 17, 2011
- China cracks down on bogus cigarette dens, 78 held - Nov 14, 2011
- China busts 6,000 cases involving trademark breach - Dec 29, 2010
- Karachi link to fake Indian currency in Nepal - May 07, 2011
- Made in India, faked in China -- $5-bn loss - Jan 01, 2012
- China arrests 2,200 in crackdown on organied gangs - Sep 16, 2011
Tags: 5 million, authorities, china beijing, counterfeit money, crackdown, currency worth, death penalty, economic crimes, fake currency notes, guangdong province, manufacturing equipment, public security ministry, south china, xinhua, yuan