Money

Counterfeit money-related crimes down in first 9 months

(Xinhua)
Updated: 2010-10-27 17:05

BEIJING - The number of counterfeit money-related crimes in China in the first nine months of the year dropped 58 percent compared to the same period last year, an official at the Ministry of Public Security (MPS) said on Wednesday.

The number of counterfeit banknotes confiscated at bank counters across China in the first three quarters dropped 43 percent from the same period last year, the official added.

The situation concerning counterfeit money in China has "markedly improved" thanks to the Action 09 crackdown launched in 2009, a senior official from the MPS's economic crimes investigation bureau told Xinhua News Agency.

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In recent years, Chinese police have confiscated counterfeit money with a face value of one billion yuan ($149.5 million) every year.

In April, police in Guangzhou, capital of South China's Guangdong province, seized counterfeit bills with a face value of 67 million yuan after a seven-month investigation.

In August, police in the provinces of Guangdong and Sichuan confiscated fake money with a face value of more than 41 million yuan.