Seized counterfeit banknotes double from last year

CHIANG MAI: -- Counterfeit banknotes seized by the Bank of Thailand doubled in 2006 from the previous year, according to a senior official of the central bank.

Ms. Duangdao Sombatsiri, senior director of the Bank of Thailand's Banknote Management Department, said that 15,232 fake banknotes were seized last year, up by more than 7,600 forgeries confiscated in 2005.

Nearly 10,000 of the fake banknotes were of Bt1,000 face value followed by Bt100 notes.

However, fake banknotes found in Thailand were still low compared to overseas with an average of five counterfeit banknotes found compared to one million genuine notes circulating in the market.

Counterfeit notes are usually given to customers at places such as markets and petrol stations where large amounts of money normally changes hands, Duangdao added. It is advisable to take precautions when receiving a banknote at such a venue, she said.

--TNA 2007-02-11

OK, please explain.

The fake notes are mostly 1000 baht.

Why would a customer get CHANGE in 1000 baht notes at a market or petrol station?

I could see that if you paid with a 5000 baht note. Now that would be a funny transaction, pay with a fake 5000 baht note (as they don't exist) and get fake 1000 baht notes as change.

Edited February 11, 200719 yr by Jingthing

Why would a customer get CHANGE in 1000 baht notes at a market or petrol station?

You're right.... 1000 Baht notes are at the top of the money chain, and typically come into peoples posession from banks, ATM's, currency exchange, etc, which should be trusted sources. Anyone passing them would know exactly where they got them and that they are bogus.

Aside from financial institutions, there are other sources that put a significant amount of high-denomination banknotes into consumers' hands: pawn shops and gold shops, just to name two.

It is advisable to take precautions...

What precautions can we take?

What distinguishes counterfeit from genuine?

Is it difficult to tell or is it obvious?

It is advisable to take precautions...

What precautions can we take?

What distinguishes counterfeit from genuine?

Is it difficult to tell or is it obvious?

Carlson - you beat me to it - I was intending to ask exactly the same question

The Bank of Thailand (BoT) has a fairly indepth web page on the 1000 baht note, listing the security features to look out for.

There is more here.

Peter

Thanks, Peter!

So these are some of the features to look for... but is it easy to tell a counterfeit or do you have to examine each bill closely? Are the bad bills in circulation pretty good counterfeits or are they an amateur attempt?

Is there one identifying feature that stands out on the counterfeits that we can look for as a red flag?

Edited February 11, 200719 yr by DFCarlson

It's incredibly hard to spot a 'good' counterfeit bank note. For those of us who do not LIVE in Thailand, think of how hard it is in your own country to spot a fake banknote.

Add to the fact that when you come to Thailand, you are in holiday mode, probably with your guard down, having a few drinks, admiring the view and handling a relatively strange currency in dark surroundings.

I am very surprised the BoT hasn't reported a lot more fake notes.

Peter

uv light..

fake glows under it .. the real ones don't

pretty simple but genuinely trusted to be a good gauge

fake glows under it .. the real ones don't

I think you have this backwards.... real ones do glow.

fake glows under it .. the real ones don't

I think you have this backwards.... real ones do glow.

May be a moot point as I don't usually carry a source of UV light with me...

Although... is there a UV light source available similar to a laser pointer? ...whichever ones glow? It would be easy enough to test if such a light source was available.

Edited February 11, 200719 yr by DFCarlson

I have a Thai friend who runs a mini van service. He was given a fake 1,000 B note from a Thai passenger recently. It was late at night and the fake wasn't discovered until he went to do his banking a few days later. By that time he was unable to trace the passenger.

The quick check done without U-V light is the watermark of His Majesty in the white space under "1000"