Hong Kong on alert for fake HK$1,000 notes
SOME businesses in Hong Kong are refusing to accept HK$1,000 (S$164) notes after reports that fake notes have been seized in the city and in Macau, the South China Morning Post (SCMP) reported yesterday.
Of 28 banknotes seized in casinos on Thursday, 13 were issued by HSBC and the rest by the Bank of China (BOC).
This is the first time fake HSBC-issued notes have been found, deepening concerns about the scale of the problem. Earlier, more than 60 counterfeit notes from BOC were seized.
In Hong Kong, five notes had been seized from two banks, and a woman was arrested for allegedly attempting to deposit 10 fake notes.
Many restaurants and shops have stopped accepting any HK$1,000 notes, SCMP said. Several banks put up notices saying the BOC-issued notes would not be accepted by cash-deposit machines before the machines are upgraded to identify counterfeit notes.