Hong Kong issues alert on bogus banknotes

The authorities in Hong Kong are investigating reports of counterfeit $1,000 banknotes and have warned banks to be vigilant.

The police and the HK Monetary Authority say the fakes appear to be copies of the '2003 series" Bank of China Hong Kong banknote, which features the Bank of China Tower and the Convention & Exhibition Centre on its front and back. The series is in the process of being withdrawn and replaced with newer versions with enhanced security features.

The authority has ordered banks to alert staff to the situation, and train them to spot the notes. It has also asked banks to open enquiry hotlines for customers over the matter, and said it will work with police to brief bank staff on the key differentiating features of the counterfeit and genuine notes.

It has also instructed banks to ensure all $1,000 notes dispensed over the counter by tellers or via ATMs are duly verified and genuine. Cash deposit machines at banks will be examined and recalibrated to enhance their ability to detect fakes.