'Movie Prop' Text on Banknotes... Counterfeit Banknotes Targeting Elderly in Traditional Markets Increase

Recently, there has been an increase in counterfeit bills containing phrases such as 'movie props,' raising concerns that require special caution.

The Bank of Korea announced that the Counterfeit Currency Prevention Working Committee (Chairman Kim Geun-young, Director of the Issuance Department at the Bank of Korea) held a meeting at the Bank of Korea Gangnam Headquarters on the 28th to review the status of counterfeit currency discoveries and the methods of counterfeit production during the first half of this year.

The Counterfeit Currency Prevention Working Committee was established in 2004 to build a close cooperation system among related agencies to effectively prevent counterfeiting and alteration of banknotes. Six organizations participate, including the Bank of Korea, the National Intelligence Service, the National Police Agency, the Korea Customs Service, the National Forensic Service, and the Korea Minting and Security Printing Corporation.

At this meeting, attendees shared the view that although the number of counterfeit currency detections remains low due to the increased use of non-cash payments such as credit cards and mobile pay, the recent upward trend means there is no room for complacency.

In fact, in March, a foreigner was arrested and prosecuted for using counterfeit bills by targeting elderly merchants in traditional markets who find it difficult to detect counterfeit currency, purchasing low-priced goods, and receiving as much change as possible.

Additionally, many attendees pointed out that some commercial banks have shown inadequate reporting responses when counterfeit bills are discovered recently, emphasizing the need to strengthen counterfeit currency education for counter staff.

The Bank of Korea stated, "As counterfeit bills containing phrases such as 'movie props' have been increasing recently, the public needs to exercise special caution during transactions," adding, "Those who intentionally reuse or redistribute counterfeit currency will face strict punishment."

This content was produced with the assistance of AI translation services.