Chinese police seize fake notes worth 118 million yuan | world | Hindustan Times
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Chinese police seize fake notes worth 118 million yuan

world Updated: Jul 22, 2012 20:44 IST

Police across China has arrested 463 suspects for counterfeit currency-related crimes and seized fake notes with a face value of 118 million yuan in a special crackdown, the government said on Sunday.

According to a statement released by the ministry of public security the total face value of the seized counterfeit
currency amounted to $18.5 million.

In one major case, police in Huilai County in south China's Guangdong Province arrested four suspects and
confiscated nearly-finished fake notes worth more than 80 million yuan as well as equipment in May, the statement said.

The crackdown is part of a special campaign launched in March against economic crimes.

"Fake note cases and the amount of fake notes discovered by financial institutes have been decreasing under sustained crackdowns. Police departments will continue efforts to deal with major cases to ensure people's interests and the country's economic security," the statement said.

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, the state-run Xinhua news agency