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Crackdown on counterfeit money intensified

(Xinhua)
Updated: 2009-10-21 14:19

China's Ministry of Public Security has reformed a division focusing on counterfeit cash in its economic crime investigation department to reinforce its campaign against fake banknotes, an official with the ministry said Tuesday.

"We made the decision because some of the major cases appear to involve advanced technologies and cover large areas," said Zhang Tao, deputy director of the department.

The department had a division specializing in counterfeit currency crimes before 2005 when it was disbanded due to a government reshuffle.

The division, which will start operation in late December, will guide the public security units across the country in combating counterfeiters.

"Outstanding officers in the department will be selected to make up the division," said Zhang, adding the number of staff had not been decided yet.

The ministry launched the 10-month nationwide "Action 09" campaign on Jan 20. It is aimed at cracking down on the production, sale and spending of fake notes, especially in 10 major provinces, including Guangdong, Fujian and Zhejiang.

As of Tuesday, police had handled 2,198 cases involving 4,108 people and seized counterfeit cash with a face value of 810 million yuan ($118 million).

During the campaign, the ministry is offering rewards of up to 300,000 yuan to those who provide information leading the identification of a counterfeiting ring.

Under Chinese law, people who intentionally carry and use large numbers of fake banknotes will be detained or sentenced to up to three years in prison. The possession of fake banknotes totaling more than 200,000 yuan in face value could fetch a sentence of life imprisonment.