HKMA introduces further measures to stem out banknote counterfeiting

The Hong Kong Monetary Authority (HKMA) has approached the Hong Kong Retail Management Association, the Quality Tourism Services Association and the Hong Kong Hotels Association to help strengthen retail sectors’ awareness and skills in detecting counterfeit banknotes.

Following two seminars organised by the HKMA and the Police on identifying counterfeit notes last Friday (27 December), three more have been scheduled for today and tomorrow. Around 1,000 banking employees have or will attend these seminars.

The HKMA and the Police will continue to organise similar seminars. We welcome retail business operators and their employees as well as bank staff to attend to help strengthen their ability to detect counterfeit notes.

Since being informed by the Police of the seizure of counterfeit banknotes, the HKMA has been working closely with banks engaged in cash-handling business. The HKMA has requested them to provide staff with appropriate information and training on the features of fake notes as highlighted by the Police. They are also required to ensure enough manpower to carry out the task of banknote screening and manage client needs effectively. The HKMA understood that bank operations after the Christmas holidays have generally been smooth. As demand for banknotes before the Lunar New Year will increase, the HKMA has further requested banks to ensure a sufficient stock of banknotes and enough manpower to meet public demand.

To increase the public’s knowledge about the features of genuine and counterfeit banknotes, the HKMA has set up a designated section on its website, providing information on the design and security features of the 2003 and 2010 series of HK$1,000 banknotes as well as those of counterfeits of these banknotes.

Hong Kong Monetary Authority
30 December 2013