Business
Counterfeit money transactions rampant before Tet
  • | dtinews.vn | January 22, 2021 07:24 AM
Counterfeit money transactions have become more rampant as the Lunar New Year or Tet Holiday nears.

It is quite easy to see the information about the sale of counterfeit banknotes online at this time of year.

Online fake cash traders often agree to meet customers who want to buy at least VND50 million (USD2,173). With a smaller amount, buyers and sellers only are prepared to work through social networks or phone to discuss the delivery time.

 

Counterfeit money transactions have become more rampant as the Lunar New Year or Tet Holiday nears


A Dantri/DTiNews reporter called an online fake money seller on Facebook. According to the man, the exchange rate depended on the type of banknotes, with more expensive face-value forged notes costing more.

"Despite being fake money, it is quite difficult to notice the notes because only counterfeit bill detection equipment can recognise them,” Tuan said, adding that the fake money will be transported to customers quickly after being ordered.

Another trader named Dung also agreed to meet directly with customers who want to purchase VND50 million. But, before the transaction, customers have to send him their identity card or deposit 2-5 million.

"For smaller transactions, new customers can pay via a VND50,000-200,000 phone card,” Dung specified.

The bigger the money face value is, the exchange fees are more expensive.

Lawyer Nguyen Thach Thao from the HCM City Lawyers’ Association said that people who are involved in counterfeit storage, production and trading could face three years in prison or life imprisonment, depending on the amount.

Recently, police in Thanh Tri District, Hanoi, arrested two people for fake monkey trading. Do Ngoc Long from Hanoi’s Ha Dong District was caught selling VND168-million in counterfeit VND500,000 notes to a local man named Phan Van Minh Manh.

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