Vietnam fake polymer notes found in Hanoi
The northern Hanoi-based Industrial Commercial Bank (Incombank) Wednesday seized a seemingly “high-tech” counterfeit polymer VND100,000 bill from a client.
According to the State Bank of Vietnam, the fake polymer VND100,000 note is often made on cotton material and is recognizable because of a distinct ‘edge’ on the bill’s transparent polymer window.
However, the counterfeit money found by Incombank was made on a kind of plastic paper instead of cotton, suggesting the counterfeiting was done overseas.
It would be very difficult for the general public to distinguish a real polymer VND100,000 bill from fake one, according to bank staff.
Nguyen Van Toan, an official of the State Bank of Vietnam (SBV), said the volume of similar counterfeit notes was likely small.
However, a joint-stock bank representative said the bank confiscated between VND3 and VND5 million worth of “low-tech” false counterfeit polymer VND100,000 bills monthly.
A Thanh Nien source said the new-generation of fake VND100,000 notes began circulating in Vietnam several months ago.
Banks that seized such money reported the situation to SBV, but the central bank is only now going public with the news.
By Hoang Ly & Thanh Xuan - Thanh Nien - July 27, 2006
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