Merchants Warned of Bogus US Banknotes

[geovalin]

News by Khmer Times/ Va Sonyka and Igor Kossov

PHNOM PENH (Khmer Times) – The US Overseas Security Advisory Council held a presentation Wednesday to educate local businesses on how to identify counterfeit US currency. The presentation comes in the wake of several major busts of bogus US banknotes in Cambodia in recent months.

In January, two African men were arrested after police busted their counterfeiting operation and recovered $1.8 million in fake US banknotes. Last September, police in Battambang arrested three men caught smuggling $7.2 million of counterfeit bills into the country from Thailand – the biggest bust in Cambodian history and the second-largest ever in Asia.

US authorities estimate the total value of worldwide counterfeit bills at $2.5 billion. Asia is one of the biggest markets for this fake currency, and China, Singapore and the Philippines have been among the top six countries for passing off counterfeit notes, according to the US Federal Reserve.

read more: http://www.khmertimeskh.com/news/12404/merchants-warned-of-bogus-us-banknotes/

[Benmart]

Glad they got the crooks. Give them their trail and if found guilty, "Throw the book at them".

It is of interest that Thailand was involved in fashion. Another hub me thinks?