Wednesday, January 27, 2016

Fake "gold" yuan banknotes were being sold as gifts for Lunar New Year

Chinese authorities have seized fake "gold" 100 yuan banknotes being sold as gifts for Lunar New Year, according to a newspaper report.

The fake banknotes, made of plastic, were seized from at least four jewellery stores in Shenzhen, the Southern Metropolis Daily reported. The bogus bills were discovered during a spot check by local government officials on Tuesday. The report did not say how much was seized.

The notes, which were being advertised as gifts for the Lunar New Year, came with documents certifying that the bills had the government’s stamp of quality approval and that their gold content was of extremely high purity of 999 parts per 1,000. But a close check showed that they were in fact made of polyurethane plastic.

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