Counterfeit Banknotes
Dec 25, 2008 | 3:22 am
#1
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Counterfeit Banknotes
Over the past few days the country has been gripped with a bit of a panic as there seems to be a recent increase in counterfeit 1,000 baht (neung panh) notes in circulation. I've yet to see a fake, or hear first-hand about one so who knows how real this is? Just a heads up for those visiting.
Bangkok Post article
Bank of Thailand website
Bangkok Post article
Bank of Thailand website
Dec 25, 2008 | 9:36 am
#3
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http://travel.asiaone.com/Travel/New...24-110215.html
http://www.thaipulse.com/blog/crime/...g-in-thailand/
"The user of such banknotes will be subject to a maximum of 15 years behind bars and a maximum fine of 30,000 baht".
Another great come to Thailand story. By the way....there are some stories out there (from Banking Authorities), that these notes are not possible to be passed by an ATM. Then there are completely conflicting reports of tourists getting the bills from an ATM.
Be careful....if you can figure out how.
Extra;
Thai Prime Minister Warns On Fake Banknotes
BANGKOK (AFP)--Thai Prime Minister Abhisit Vejjajiva warned Tuesday that the recent spread of counterfeit banknotes in the country had eroded consumer confidence and must be solved immediately.
Police have said there is an increase in fake currency in circulation, especially the THB1,000 ($29) denomination, while television shows have been showing how to spot a bogus note.
"Violators of the law must be prosecuted and authorities must have clear guidelines on how to examine notes. All this has to be implemented immediately otherwise it will adversely affect confidence," Abhisit told reporters.
The Bank of Thailand says 61% of all fake banknotes found in the first 11 months of this year were THB1,000 notes, of which there were a total of 11,158 examples.
But the central bank said only between five to seven of every one million banknotes circulating in the Thai financial system was fake.
Deputy national police chief General Prewphan Damapong said he had ordered forces to speed up a crackdown on the problem.
The Bank of Thailand said producers of fake banknote faced a maximum jail term of life imprisonment and/or a THB40,000 fine.
Thailand already faces growing economic woes due to political turmoil at home and the effects of the global slowdown, with warnings that economic growth could be as low as 2% next year.
nasdaq.com
http://www.thaipulse.com/blog/crime/...g-in-thailand/
"The user of such banknotes will be subject to a maximum of 15 years behind bars and a maximum fine of 30,000 baht".
Another great come to Thailand story. By the way....there are some stories out there (from Banking Authorities), that these notes are not possible to be passed by an ATM. Then there are completely conflicting reports of tourists getting the bills from an ATM.
Be careful....if you can figure out how.
Extra;
Thai Prime Minister Warns On Fake Banknotes
BANGKOK (AFP)--Thai Prime Minister Abhisit Vejjajiva warned Tuesday that the recent spread of counterfeit banknotes in the country had eroded consumer confidence and must be solved immediately.
Police have said there is an increase in fake currency in circulation, especially the THB1,000 ($29) denomination, while television shows have been showing how to spot a bogus note.
"Violators of the law must be prosecuted and authorities must have clear guidelines on how to examine notes. All this has to be implemented immediately otherwise it will adversely affect confidence," Abhisit told reporters.
The Bank of Thailand says 61% of all fake banknotes found in the first 11 months of this year were THB1,000 notes, of which there were a total of 11,158 examples.
But the central bank said only between five to seven of every one million banknotes circulating in the Thai financial system was fake.
Deputy national police chief General Prewphan Damapong said he had ordered forces to speed up a crackdown on the problem.
The Bank of Thailand said producers of fake banknote faced a maximum jail term of life imprisonment and/or a THB40,000 fine.
Thailand already faces growing economic woes due to political turmoil at home and the effects of the global slowdown, with warnings that economic growth could be as low as 2% next year.
nasdaq.com
Last edited by maskedavenger; Dec 25, 2008 at 9:43 am
Dec 25, 2008 | 10:18 am
#4
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even before this I always asked for 500 baht notes instead of 1000s , they were easier to buy small things in stores etc,
But 30-40,000k baht fine is only about $1000 US , not a big fine for producing counterfiet bills !
Rally
But 30-40,000k baht fine is only about $1000 US , not a big fine for producing counterfiet bills !
Rally
Dec 26, 2008 | 7:53 pm
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Last edited by serfty; Dec 28, 2008 at 7:24 pm
Dec 29, 2008 | 11:57 am
#6
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Yeap, and those topics have nice pictures of real & counterfeit notes to help people identify the fakes:
http://www.thaivisa.com/forum/Counte...r-t231432.html
http://www.thaivisa.com/forum/Fake-B...2#entry2419872
As for seanthepilot's question about the prevalence, my wife (a Thai) has seen reports of it all over teenee.com, and I'd read about it over a month ago on some expat forums. We've been on a 6-week holiday outside Thailand, but it sounds like they're definitely out there, and not just in the tourist population.
http://www.thaivisa.com/forum/Counte...r-t231432.html
http://www.thaivisa.com/forum/Fake-B...2#entry2419872
As for seanthepilot's question about the prevalence, my wife (a Thai) has seen reports of it all over teenee.com, and I'd read about it over a month ago on some expat forums. We've been on a 6-week holiday outside Thailand, but it sounds like they're definitely out there, and not just in the tourist population.