Thousands of counterfeit banknotes, particularly 1,000-baht bills, are likely to go into circulation over the New Year period, the Bank of Thailand (BoT) warned yesterday.
Nopporn Pramojaney, the BoT's assistant governor for note-printing, warned consumers and businesses to watch out for odd-looking notes during the holiday season.
He said counterfeit notes in circulation increased by 80% this year, possibly as a consequence of hard economic times.
In the 12 months to the end of November, the BoT had confiscated 18,895 fake notes - compared with 10,819 notes seized in the same period last year. Most fake notes were 1,000-baht bills, which accounted for 61% of seized notes.
Mr Nopporn said that for every one million banknotes in circulation, up to 7,000 of those would be fakes.
More counterfeit notes were expected to enter circulation next year due to the economic recession.
Pol Lt-Gen Danaithorn Wongthai, chief of the Office of Police Forensic Science has given some tips for the public to differentiate real banknotes from fake ones.
A real banknote bears the watermark of His Majesty the King, which can only be seen when it is held up to the light. The picture of the King, the letters and the digits showing the value on the real note have an embossed feel.
Notes of 1,000-baht, 500-baht and 100-baht value have reflective and holographic metallic strips.
Police Region 1 recently arrested four people including a former school director, for banknote forgery, and seized 203 fake 1,000-baht notes.
Police also confiscated three compressed bricks of marijuana weighing 3kg from the suspects.
Pol Lt-Gen Chalong Sonjai, Police Region 1 commissioner, said the suspects used the fake notes to pay for drugs they bought in Laos.
In Phuket, police arrested three people and seized three fake 1,000-baht notes in Thalang district on Wednesday.
Pol Col Thammanoon Faiju, superintendent of Thalang police station, said forged bills were often used at nightspots, petrol stations or grocery stores popular with the elderly.
Source: Bangkok Post
Fake thousand baht banknotes in circulation
Fake thousand baht banknotes in circulation
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
The public can bring charges against shops that refuse to accept 1,000 baht banknotes for fear they might be counterfeit, police say.
Deputy Metropolitan Police chief Pol Maj-Gen Amnuay Nimmano said yesterday people who are issued counterfeit notes by ATMs can also file charges against banks with police.
Banknote forgers would be liable to life imprisonment and people who knowingly pass fake notes face one to 15 years in jail, he said.
The police chief spoke out after reports that many vendors were refusing to accept 1,000 baht banknotes from customers and that people were choosing to withdraw less than 1,000 baht from ATMs at each transaction, to avoid receiving 1,000 baht banknotes.
Twatchai Yongkittikul, secretary-general of the Thai Bankers Association (TBA), said the public should not panic about fake notes.
"There is no problem about receiving counterfeits from ATMs," he said. "All banks check banknotes before they put them in ATMs."
He said even though the number of forgeries had increased, there were still relatively few in circulation.
The TBA would monitor the situation and call a meeting with its members to develop a strategy if the problem became any worse, he said.
Bangkok Bank, the country's largest bank, said it was training counter tellers to check banknotes carefully, especially 1,000 baht notes. The number of counterfeits increased significantly over the festive season.
Giant retail stores report finding fake notes in many provinces. If there is doubt about a note's authenticity, clerks ask customers to pay with another note. Machines to check watermarks on notes have also been installed in toll booths.
Deputy national police chief Pol Gen Preawpan Damapong has ordered police to track down the forgers and distributors.
In Nakhon Si Thammarat, counterfeiters were arrested in two districts with phoney 500 and 1,000 baht notes.
In Nan's Chiang Klang district, Nim Ganpai, 50, went to make a 4,500 baht deposit to pay her bank loan, only to be told one of the 1,000 notes was counterfeit.
She said she received the note when she sold a cow two months ago.
In Tak, 1,000 baht notes were not being accepted at the border market in Mae Sot district after counterfeits were found. The fake notes were so similar to real notes that some were said to have been deposited at banks.
"I have changed my payment method and now use an ATM to transfer funds, or a cheque. It is so hard to check if the notes are real," said Tak chamber of commerce president Suchart Treeratwattana.
In Nakhon Ratchasima, Namphon Songklang, 40, a butcher at Mae Kim Heng market in Muang district, said when customers pay in 1,000 baht notes, vendors get together to help inspect them. If the note is deemed to be fake, they detain the person and alert police. Some vendors had earlier phoney notes.
In Trat, customs officers are watching for fakes, but because of staff constraints search people only if they look suspicious.
People are allowed to take no more than 200,000 baht out of the country at a time.
Source: Bangkok Post
Thought: Won't affect me as I only have 20's.
Deputy Metropolitan Police chief Pol Maj-Gen Amnuay Nimmano said yesterday people who are issued counterfeit notes by ATMs can also file charges against banks with police.
Banknote forgers would be liable to life imprisonment and people who knowingly pass fake notes face one to 15 years in jail, he said.
The police chief spoke out after reports that many vendors were refusing to accept 1,000 baht banknotes from customers and that people were choosing to withdraw less than 1,000 baht from ATMs at each transaction, to avoid receiving 1,000 baht banknotes.
Twatchai Yongkittikul, secretary-general of the Thai Bankers Association (TBA), said the public should not panic about fake notes.
"There is no problem about receiving counterfeits from ATMs," he said. "All banks check banknotes before they put them in ATMs."
He said even though the number of forgeries had increased, there were still relatively few in circulation.
The TBA would monitor the situation and call a meeting with its members to develop a strategy if the problem became any worse, he said.
Bangkok Bank, the country's largest bank, said it was training counter tellers to check banknotes carefully, especially 1,000 baht notes. The number of counterfeits increased significantly over the festive season.
Giant retail stores report finding fake notes in many provinces. If there is doubt about a note's authenticity, clerks ask customers to pay with another note. Machines to check watermarks on notes have also been installed in toll booths.
Deputy national police chief Pol Gen Preawpan Damapong has ordered police to track down the forgers and distributors.
In Nakhon Si Thammarat, counterfeiters were arrested in two districts with phoney 500 and 1,000 baht notes.
In Nan's Chiang Klang district, Nim Ganpai, 50, went to make a 4,500 baht deposit to pay her bank loan, only to be told one of the 1,000 notes was counterfeit.
She said she received the note when she sold a cow two months ago.
In Tak, 1,000 baht notes were not being accepted at the border market in Mae Sot district after counterfeits were found. The fake notes were so similar to real notes that some were said to have been deposited at banks.
"I have changed my payment method and now use an ATM to transfer funds, or a cheque. It is so hard to check if the notes are real," said Tak chamber of commerce president Suchart Treeratwattana.
In Nakhon Ratchasima, Namphon Songklang, 40, a butcher at Mae Kim Heng market in Muang district, said when customers pay in 1,000 baht notes, vendors get together to help inspect them. If the note is deemed to be fake, they detain the person and alert police. Some vendors had earlier phoney notes.
In Trat, customs officers are watching for fakes, but because of staff constraints search people only if they look suspicious.
People are allowed to take no more than 200,000 baht out of the country at a time.
Source: Bangkok Post
Thought: Won't affect me as I only have 20's.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Spooky that....
Me and the missus were going xmas shopping at Asda (whoopee!)
2 nights ago and she was going on about copy 1000 bahts
that her mam was talking about and i was chatting on about getting a
thai debit card etc....She was saying it could be corruption etc etc...
The conversation stopped abruptly as i seen the car park queue...
Sitting here at work keep getting reminded that we dont finish till 5pm...
im sure is xmas eve...???
All the best !
Me and the missus were going xmas shopping at Asda (whoopee!)
2 nights ago and she was going on about copy 1000 bahts
that her mam was talking about and i was chatting on about getting a
thai debit card etc....She was saying it could be corruption etc etc...
The conversation stopped abruptly as i seen the car park queue...
Sitting here at work keep getting reminded that we dont finish till 5pm...
im sure is xmas eve...???
All the best !
The only Geordie in sleepy Cha am since 2009 :cheers:
Buksida, I am adding this to show there's at least some confusion on the issue.
Don't know what I will do if some merchant refuses a legit thousand baht note. Tell him I'll pay him later? Let him call the police?
Merchants can legally reject banknotes
By: BangkokPost.com
Published: 23/12/2008 at 01:33 PM
Deputy police chief Jongrak Chuthanont on Tuesday said there are no laws in Thailand that prohibit vendors from refusing to accept 1,000 baht banknotes.
Many traders feared that banknotes, particularly 1,000 baht banknotes, could be counterfeit and they declined to accept them.
Pol Gen Jongrak said police cannot take legal action against merchants since there are no laws requiring them to accept banknotes from buyers.
He expressed worry about motorists using fake banknotes to pay for toll charges because toll operators have little time to inspect them.
He said local authorities will not pursue charges against people who unintentionally use fraudulent banknotes but they will take action against fake banknote producers.
According to the deputy police chief, fake 1,000 baht banknotes are being sold at 400 baht each and if people are found to spend them intentionally, they would violate Criminal Code 244 and could face one to 15 years in prison.
Pol Gen Jongrak also urged public members with counterfeit banknotes to report to the police or tear them immediately.
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Don't know what I will do if some merchant refuses a legit thousand baht note. Tell him I'll pay him later? Let him call the police?
Merchants can legally reject banknotes
By: BangkokPost.com
Published: 23/12/2008 at 01:33 PM
Deputy police chief Jongrak Chuthanont on Tuesday said there are no laws in Thailand that prohibit vendors from refusing to accept 1,000 baht banknotes.
Many traders feared that banknotes, particularly 1,000 baht banknotes, could be counterfeit and they declined to accept them.
Pol Gen Jongrak said police cannot take legal action against merchants since there are no laws requiring them to accept banknotes from buyers.
He expressed worry about motorists using fake banknotes to pay for toll charges because toll operators have little time to inspect them.
He said local authorities will not pursue charges against people who unintentionally use fraudulent banknotes but they will take action against fake banknote producers.
According to the deputy police chief, fake 1,000 baht banknotes are being sold at 400 baht each and if people are found to spend them intentionally, they would violate Criminal Code 244 and could face one to 15 years in prison.
Pol Gen Jongrak also urged public members with counterfeit banknotes to report to the police or tear them immediately.
----