Counterfeit money circulating in Mandalay
POLICE are investigating banknote forgeries after the discovery of 14 fake K10,000 notes in Mandalay’s Maha Aung Myay township on September 27.
Police were alerted to the forgeries by a game shop owner, U Kway Kwin, who suspected he had been paid with phony currency.
After an analysis, police confirmed that the notes were indeed counterfeit.
Police said the fraudulent notes were made with duller paper and are both 1 millimetre longer and 1 millimetre narrower than their genuine counterparts. Additionally, the holographic strip on the counterfeit currency did not change colour from magenta to green.
Police believe that the counterfeits are being smuggled into the country from Thailand. The fake banknotes found in Maha Aung Myay township share the serial number of other forged notes found in Bagan, Hlaing Tharyar, East Dagon, Minbu, Ponnagyun and Thandwe townships.
Last week, police arrested four suspects circulating counterfeit K10,000 notes in Ponnagyun township. Earlier this month, fake K10,000 notes were found Myanma Economic Bank’s Thandwe branch.
In investigating the currency forgeries, local police in Mandalay are cooperating with Police Major Soe Naing’s team from the Criminal Investigation Department.