The Kachin Independence Army (KIA) has vowed to take legal action against those responsible for distributing counterfeit 10,000-kyat banknotes, after a wave of fake currency was reported in Hpakant Township’s busy markets. Over the past month, vendors and shoppers at Nga Pyaw Taw and Hmaw Wan markets have uncovered numerous fraudulent notes that closely resemble genuine bills. Residents say the fakes often pass unnoticed until closer inspection. “I discovered two counterfeit kyat notes while shopping at the Hpakant market, and I believe the fake currency is spreading to other areas as well,” one local told Mizzima. Another explained that the bills change colour when exposed to water and lack the reflective lotus security feature found on authentic notes. Instead, the counterfeits display only a silver-coloured thread. Money-detection machines have confirmed the notes are fake, raising concerns that the counterfeit currency could destabilise local trade. Colonel Naw Bu, head of news and information for the KIA, urged residents to report suspects to township officials. “If we identify those responsible, we will take action,” he said, stressing that punishments would depend on the scale of involvement and whether individuals acted independently. Hpakant, in northern Myanmar, is best known for its jade mines but has also become a hotspot for illicit trade and armed conflict. The spread of counterfeit currency adds another layer of instability to a region already struggling with economic hardship and political tension. The KIA’s warning reflects growing unease among communities who rely on cash transactions in daily life. With counterfeit notes now circulating widely, trust in the local economy risks being undermined. As investigations continue, the KIA’s pledge of legal action signals a determination to protect residents from financial harm, though the source of the counterfeit bills remains unclear. For now, vigilance in Hpakant’s markets has become essential. -2026-03-16
