Foreigners with fake 1,000 baht notes flooding Pattaya - Thai traders take to social media to issue warnings

[Basil B]

3 hours ago, janclaes47 said:

 

Since 1000 Baht is the biggest note existing in the Thai monetary system, you will never receive a 1000 Baht note as change.

True, I did not think of that when posting...

 

But just how many times do you get given a 1000B note, a returned deposit, or other payment, I certainly would be very weary of someone offering me a too good to be true exchange rate on the black market. 

[Basil B]

3 minutes ago, Penefattore said:

but if the fake notes are 1,000 baht how can be possibly passed to a tourist ? I don't think you can be given fake notes by ATM or money changers.

Their have been claims on TV in the past by members who claim the had funny money out of an ATM, as for banks and currency exchanges, if the teller were to receive a dodgy note and only find out after the customer who gave it to them has left... what do you think they are going to do with it??? (answers on a post card to...).

[observer90210]

From tomorrow onwards, everybody carry your portable fake currency detector.

[wakeupplease]

Did not the Middle eastern (Quality Tourists) buy them off the locals?

[chezy86]

And if you go to post 16 from 8 hours ago you will notice I already said that, you really should start at the beginning and work through it. 

Yeah ok chill feel like a naughty schoolboy


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[elgenon]

I would certainly be upset if I cashed $1,000 and got fake 1,000 b notes. Wouldn't you?

 

 

[12DrinkMore]

12 hours ago, Krataiboy said:

Naughty boy. You omitted to mention the "backing" that's in place for the quadrillion dollar derivatives bubble waiting to burst. We're it , I guess.

 

They are all contracts between two more more parties and do not have anything to do with backing the currency in your pocket or bank account.

 

 

[Blue Muton]

10 hours ago, observer90210 said:

From tomorrow onwards, everybody carry your portable fake currency detector.

How much? Where can I buy one? Do you want my bank details?

[Krataiboy]

47 minutes ago, 12DrinkMore said:

 

They are all contracts between two more more parties and do not have anything to do with backing the currency in your pocket or bank account.

 

 

And of course all such contracts are honoured - like the contracts between the banks and their customers which led to the infamous bail-ins policy now adopted across Europe.

[12DrinkMore]

9 minutes ago, Krataiboy said:

And of course all such contracts are honoured - like the contracts between the banks and their customers which led to the infamous bail-ins policy now adopted across Europe.

 

1. Yep, if any party did not honour the contract they would be excluded very quickly from the system and taken to court. The whole thing functions on trust and enforceable legal contracts. When trust is lost, we have another financial crisis.

 

2. The fundamental relationship between a bank and a depositor is that of borrower and creditor. By putting money into a deposit account you are lending the money to the bank and then stand in the same line as any other creditor if the bank goes tits up.

 

It is the same as if you lend money to Joe Bloggs down the road.

 

The problem is that it is difficult for Joe Public to assess the risks of any particular bank going insolvent, but still have to use a bank account. This is why governments have put in place depositor protection schemes.

 

The question is, when a bank goes insolvent, who should take the haircut? Snip it from the general taxpayers or snip it from the depositors? 

 

If the taxpayers are called to pay every time, then it poses a moral dilemma, as a bank will always be able to rely on a government bailout, keeping the shareholders, bondholders and depositors happy. If depositors are given a haircut, then they will move what is left to another bank, driving the first bank out of operation. Ultimately, it is hoped, this will make sure that the shareholders and management keep the bank under better fiscal control.

 

[maeab101]

23 hours ago, stanleycoin said:

Thais think they can pick and choose,  what law and when it applies to

them.

Amazing Thailand.

Thais are quai. lol

[murraynz]

i dont like the sound of fake money,floating around-but thai people are already paranoia about  defaced money---several times i have had people refuse to take their money with a very small rip in it or mark on it..even super rich refused to take a $100 note from nz---it  had small pen mark on it.....al ,a bit over the top..ignorance, i suspect

[Get Real]

16 hours ago, janclaes47 said:

 

Since 1000 Baht is the biggest note existing in the Thai monetary system, you will never receive a 1000 Baht note as change.

No but somebody could ask you to change a 1000 bath note. For example into two 500 notes, or ten 100 notes. Ain´t that right?

No feel so sure anymore??? Guess not!

[jacko45k]

On 9/14/2017 at 1:37 PM, champers said:

Caveat emptor. Buyer beware. Besides which, if you know it is fake you can choose not to buy.

At least the fake notes can't be passed on as change.

I got a couple when I changed a 10,000 baht note....

 

(Actually you may get some at the foreign currency exchange kiosks)

[tubby johnson]

Pattaya's honest traders will simply pass these fake notes on to foreigners. Problem solved.

[shaul19]

On 14.9.2017 at 10:03 AM, Basil B said:

Foreigners should be aware...

1. the foreign gangs may find it easier to pass those dud notes onto other foreigners

2. Thai traders stuck with a dud note is more likely to pass them off to other foriegners

3. any foreigner who unwittingly receive one and then tries to spend it is likely to be in for a very expensive shakedown.   

i alwayes take my money at an atm hopping the bank is checking its money

i never remember that i got a 1000b from anyone in thailand i only pay

[maeab101]

On 9/14/2017 at 3:24 PM, SpeakeasyThai said:

Fake hand bags, fake girl friends, fake designer Tshirts, fake watches. I see no issue in paying in fake notes.

You have counterfeit girlfriend?

[Blue Muton]

1 minute ago, maeab101 said:

You have counterfeit girlfriend?

Amazing what these latest 3D copiers will do.

[maeab101]

3 hours ago, Get Real said:

No but somebody could ask you to change a 1000 bath note. For example into two 500 notes, or ten 100 notes. Ain´t that right?

No feel so sure anymore??? Guess not!

Great comeback!

[maeab101]

2 hours ago, jacko45k said:

I got a couple when I changed a 10,000 baht note....

 

(Actually you may get some at the foreign currency exchange kiosks)

I changed A 5000 baht note and 3 out of the 5 1000 baht notes were fake.  Watch out!

[SOTIRIOS]

...Who says the tourists weren't given the fake notes at the exchange booths...???

[The manic]

Better leave fake notes than real bombs.

[wavemanwww]

On 14/09/2017 at 7:16 PM, Justgrazing said:

Excellent do they use this sort of tech on other highly counterfeited gov doc's such as passports .? The Brit Lady Godiva (£5:00 note) is supposed to be water and tear proof and stand up to wear pretty good but they do not like being folded .. The tenner note has been released this week .. 

Australia's passports are some of the world's most advanced. The latest iteration is even more so; a world-first "floating image" — of kangaroos, naturally — means that any legitimate passport will be virtually impossible to counterfeit. The new document is printed like Australia's polymer banknotes, too, further stymying potential forgers.

The world-first feature is a pair of holographic, coloured stylised kangaroo designs on the passport holder's identification spread, "which appear to float independently above and below the page". Designed by 3M in consultation with the Australian government, the design also changes colour under UV light. Anyone trying to recreate this illegitimately is going to have a really tough job on their hands.  More info...

https://www.gizmodo.com.au/2014/06/australias-new-passports-have-a-world-first-security-feature/

[whaleboneman]

On 9/14/2017 at 10:39 PM, Get Real said:

No but somebody could ask you to change a 1000 bath note. For example into two 500 notes, or ten 100 notes. Ain´t that right?

No feel so sure anymore??? Guess not!

Maybe he's not a money-changer.

[chezy86]

Hmmm I got a 700 Baht note in my change today not seen one of them before must be new


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[impulse]

19 minutes ago, chezy86 said:

Hmmm I got a 700 Baht note in my change today not seen one of them before must be new

 

I'd save it if I were you.  You may become a zillionaire if those Bitcoin ads are to be believed.  You know, the ones where a taxi driver took $2.00 in Bitcoins for a fare a couple of years ago and now he lives on his own island.

 

[Blue Muton]

2 hours ago, impulse said:

 

I'd save it if I were you.  You may become a zillionaire if those Bitcoin ads are to be believed.  You know, the ones where a taxi driver took $2.00 in Bitcoins for a fare a couple of years ago and now he lives on his own island.

 

To be fair that was not so much the Bitcoins as the Snake Oil company that he invested in using them.

[juice777]

I'm being sold fake stuff by Thai people on a daily bases and no one
put it on any social media sites..... 

What Nonsense everyone knows it's fake so it's not A Scam. In actual fact I've aways found Thai sellers to tell you things are copy. Especially in electronics I asked to look at a tablet the other week and she told me it was a copy.

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[juice777]

Foreigners should be aware...

1. the foreign gangs may find it easier to pass those dud notes onto other foreigners

2. Thai traders stuck with a dud note is more likely to pass them off to other foriegners

3. any foreigner who unwittingly receive one and then tries to spend it is likely to be in for a very expensive shakedown.   

1.How many times do you get the option to give another Foreigner a 1000THB in a transaction. It could be done I suppose but it would be a hell of a lot harder. And take a lot longer to get rid of them all so why bother.

 

2.How do you pass of a 1000THB note to foreigners. You don't give them back as change.

 

3.Probley but almost definitely won't happen. Because of the above 2 reasons.

 

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[Rimmer]

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