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Chinese police crack banknote forgery case

(Xinhua)    17:51, February 26, 2015
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BEIJING, Feb. 26 -- Police in south China's Guangdong Province have arrested eight suspects and confiscated counterfeit banknotes with a face value of 130 million yuan (21 million U.S. dollars), according to the Ministry of Public Security.

A ministry statement released on Thursday said the "extra large" manufacturing workshop in a residential community in a small town also led to the confiscation of the equipment used for producing fake currency.

The arrests are the result of a more than three month investigation based on a similar case in 2014, uncovered with the help of People's Bank of China, it said, adding that "not a single" phony note from the operation had entered the market.

The ministry said the police uncovered more than 600 counterfeit banknote cases last year and confiscated copied notes with a face value of 380 million yuan.

"Severe crackdowns have effectively put a check on counterfeit banknote crimes, but the situation remains grim," said the ministry, vowing closer cooperation with other departments to intensify the crackdown.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yuan Can,Bianji)

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