Police have succeeded in breaking records for confiscating more counterfeit money than ever before. Since the crackdown was announced in January, over 280 people have been arrested, 190 cases involving counterfeit money have been cracked, and over 1 billion yuan has been confiscated.
Counterfeit money is by and large not made in Shanghai, but finds its way here en mass as a focal point for circulation and distribution through the country. The money is mostly passed on in smaller amounts that don’t check for counterfeit money: last year, the bus authority received nearly 7 million yuan in counterfeit bills
Our favorite criminal is Peng Bao, who got caught hiding over 20 million RMB amongst instant pork noodles. And while larger counterfeit bills are decreasing in number, it looks like crooks are simply switching their preference in fakes to smaller denomination bills, which are easier to pass off than hundred yuan notes.
Photo by Hangzhou wang