Society

Fake money crimes plunge 58% in first 3Qs

(Xinhua)
Updated: 2010-10-27 15:49

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 with the Ministry of Public Security (MPS) said Wednesday.

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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.

In recent years, Chinese police have confiscated counterfeit money with a face value of one billion yuan (or $149.45 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.