Trang Hit By Counterfeit 1,000 Baht Notes

[jacko45k]

Are we supposed to check the number of every single bill we get from an ATM to make sure it's not the one quoted ?

You should always get a paper receipt when you withdraw cash from an ATM and keep it in your wallet as proof that you withdrew the cash from an ATM.

Are you saying that will 'prove' you did not procure or pass a counterfeit note if so challenged?

Personally, as an Expat, every note I have comes from an ATM..... but having all these receipts doesn't prove all of them came from an ATM. I can always prove my withdrawals by showing an updated pass book, or internet banking summary.

It is those who take cash over the counter who need to worry.

Edited July 27, 2014 by jacko45k

[shaurene]

Ok; so where is all the wonderful advice from Mr Plod about how to detect a bad note ? Are we supposed to check the number of every single bill we get from an ATM to make sure it's not the one quoted ?

In my experience nobody here checks notes when you hand them over, not even banks !

The 2 notes had the same serial number so looks like they will all have the same number.

[Strangebrew]

look if you think a Thai won"t pass on a bad note they got your in for a shock. They will pass it on as fast as they get it.

[Strangebrew]

had exchange at airport try to pass a fake 100 on me at airport noticed watermark missing so made them take it back and give me correct one.

[foxteen]

To received and pass on fake notes can be a nightmare..by the time you explain to cops you life stops.Cops take you as a suspect why you have fake note and investigate your life upside down.Better off to make sure you have the real one

[taiping]

Counterfeit notes are a bigger threat than terrorism, insurgency and Thaksin combined. The danger is real, measurable and systemic.

Undermining the validity of currency is heinous.

The good General Prayuth O-cha, a hard as nails warrior, I think has no mercy for this at all.

Good. The idiots circulating the notes have opened up a can of napalm.

Those doing this deserve no mercy. Counterfeiters attack a country at its most crucial level. I have no sympathy for such scum.

.

Haha - governments everywhere undermine the validity of currency by printing the stuff electronically out of thin air (the definition of monetary inflation). Buy gold/silver or bitcoins.

Edited July 27, 2014 by taiping

[Able]

Are we supposed to check the number of every single bill we get from an ATM to make sure it's not the one quoted ?

You should always get a paper receipt when you withdraw cash from an ATM and keep it in your wallet as proof that you withdrew the cash from an ATM.

With all due respect a cash withdrawal slip from an ATM is utterly worthless. There is no traceability, I.E. there is nothing to prove that any notes in your possession have came from the ATM.

[Yann55]

Those who deliberately use counterfeit banknotes are also subject to up to 15 years in jail.

And that is the danger as it may be difficult to disprove the 'deliberately' part if caught passing one. One could get stuck for a while explaining themselves.

Yep, that part is kind of scary actually... I wouldn't want to find myself in some police booth trying to explain that I didn't realize the note was a fake...

[smotherb]

Are we supposed to check the number of every single bill we get from an ATM to make sure it's not the one quoted ?

You should always get a paper receipt when you withdraw cash from an ATM and keep it in your wallet as proof that you withdrew the cash from an ATM.

Duh, let's say I am passing counterfeit bills. So, you are telling me all I have to do is go to an ATM, withdraw B10K, keep the receipt, and if caught passing counterfeit bills, I simply show the police my receipt. Gee, who would have known it was that easy.

[smotherb]

had exchange at airport try to pass a fake 100 on me at airport noticed watermark missing so made them take it back and give me correct one.

Why didn't you call the police?

[laolover88]

I suspect my former wife. Lives in Trang. Stole 2 million Baht and the Laser Printer

[aussieinthailand]

Why not use the same technology as OZ, one of the safest currencies in the world, sure cost a bit to change but a lot better than your currency being constantly attacked I'd say.

[12DrinkMore]

Counterfeit notes are a bigger threat than terrorism, insurgency and Thaksin combined. The danger is real, measurable and systemic.

Undermining the validity of currency is heinous.

The good General Prayuth O-cha, a hard as nails warrior, I think has no mercy for this at all.

Good. The idiots circulating the notes have opened up a can of napalm.

Those doing this deserve no mercy. Counterfeiters attack a country at its most crucial level. I have no sympathy for such scum.

You should read a little more into where money comes from.

In the west around 97% of what we call money, numbers in your bank accounts and cash in your pocket, is simply conjured into existence by the commercial banks when they issue debt. I do not know what the percentage in Thailand is, but maybe it is a little less than 97% because the Thais tend to use cash for a lot of transactions.

Let's take a small poor village, where the banks will not give any loans out to the villagers. The banks are controlling the economy of the village and preventing shops being opened, businesses being started, schools being built etc.

One day an enterprising villager manages to produce the perfect bank note on his home printer. These are spent into the local economy and suddenly there is money, and to be sure, money with no obligation to repay a debt to the commercial banks. The village begins to prosper, businesses open up, jobs are available, the school gets built, a factory opens up and the village starts to sell stuff to the neighboring village eventually the whole region becomes prosperous. More taxes are paid to the government and the government moves in to build new infrastructure.

Now.

Who has lost money?

What has been debased?

Who has profited?

The commercial banks are the biggest losers, as they can no longer charge interest on money issued by them out of thin air. Indeed the overall level of indebtedness might go down, as debt is paid off, leaving the country richer than before, but the poor banks would have to reduce their bonuses, as the profits go down.

The government loses a bit of money as it does not receive the seigniorage from manufacturing paper notes, but it does reap a whole lot of tax.

And the whole region has profited as the banks' refusal to issue debt to get the wheels of the economy turning was restricting progress.

So please rethink where you should direct your anger.

" Counterfeiters attack a country at its most crucial level. I have no sympathy for such scum."

Let's go for the banks, I'm with you all the way..........

These are the guys who determine whether an economy runs smoothly, or booms and crashes. or does not go anywhere.

Now, when will that new printer arrive?

[Emster23]

Counterfeit notes are a bigger threat than terrorism, insurgency and Thaksin combined. The danger is real, measurable and systemic.

Undermining the validity of currency is heinous.

The good General Prayuth O-cha, a hard as nails warrior, I think has no mercy for this at all.

Good. The idiots circulating the notes have opened up a can of napalm.

Those doing this deserve no mercy. Counterfeiters attack a country at its most crucial level. I have no sympathy for such scum.

.

Amen to that. Reason why US notes changed not that long ago: fakes from Iran and possibly North Korea. Be a hard sell to go to war over fake notes, but they do incredible damage.

[gemini81]

Counterfeit notes are a bigger threat than terrorism, insurgency and Thaksin combined. The danger is real, measurable and systemic.

Undermining the validity of currency is heinous.

The good General Prayuth O-cha, a hard as nails warrior, I think has no mercy for this at all.

Good. The idiots circulating the notes have opened up a can of napalm.

Those doing this deserve no mercy. Counterfeiters attack a country at its most crucial level. I have no sympathy for such scum.

.

Amen to that. Reason why US notes changed not that long ago: fakes from Iran and possibly North Korea. Be a hard sell to go to war over fake notes, but they do incredible damage.

He was joking.....

Banks do far more damage than some fake notes here and there, c'mon, get real haha!

[Equalizer]

Are we supposed to check the number of every single bill we get from an ATM to make sure it's not the one quoted ?

You should always get a paper receipt when you withdraw cash from an ATM and keep it in your wallet as proof that you withdrew the cash from an ATM.

You should always get a paper receipt when you withdraw cash from an ATM and keep it in your wallet as proof that you withdrew the cash from an ATM.

That is one of the most ridiculous comment on here to date. Well done Dis.

[belg]

can you pay the 40.000 baht fine ... in fake bills

woehahaha

those kind of street vendors have change for a 1000 baht bill ? seriously ?