Counterfeit banknotes detected in market

Counterfeit banknotes of VND200,000 denomination have recently been detected in the market, according to a statement issued by the State Bank of Vietnam on Tuesday, October 2.

The fake banknotes are circulating in big cities and can easily be differentiated by the naked eye. They have been printed on normal plastic paper, instead of polymer, and can tear easily, said SBV.

The counterfeit notes are less durable and flexible than the polymer notes, so the public can check their banknotes by slightly tearing the edges.

Another distinguishing mark is that the fake notes are not printed with optically variable ink (OVI). The ink, an anti-counterfeiting measure used on modern banknotes, displays two distinct colors depending on the angle the bill is viewed at.

Other Vietnamese banknotes printed with OVI are of VND100,000 and VND500,000 denominations.

The public is also advised to check the small transparent window on the notes to see if there is a hidden image on it, which distinguishes the authentic from the counterfeit bill.

When exposed to ultraviolet light, the serial numbers on the fake banknotes do not produce the same luminescence as those on the real notes.

The State Bank of Vietnam warned that criminals are constantly changing tactics, seeking to improve their counterfeiting methods so that the fake notes resemble more and more like real ones.

Therefore, counterfeit notes are becoming more sophisticated. To minimize the risk of receiving counterfeit money, consumers need to understand the characteristics of fake notes and to check for tell tale signs before doing any money transactions.

For more information, consumers may refer to Vietnamese currency website of the State Bank of Vietnam (www.sbv.gov.vn)

Source SGGP, Translated by Dan

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