counterfeit banknotes

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Hong Kong Police Arrest Quartet Accused of Using Counterfeit Banknotes to Swindle Crypto Traders

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A group of four Hong Kong fraudsters, who swindled victims’ digital assets worth $1.4 million between October 2023 and July 2024, have been apprehended. The suspects, aged 14 to 39, are charged with conspiracy to defraud and possession of 5,000 counterfeit banknotes. According to Hong Kong laws, producing and circulating counterfeit currency can result in … Read more

Hong Kong Police Warn of Spike in Counterfeit Banknotes Used in Cryptocurrency Scams

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Hong Kong police have issued a warning over the rise in counterfeit banknotes, with many cases linked to cryptocurrency scams. Between January and April, authorities seized 3,396 fake notes valued at HK$2.55 million (US$326,130), a significant increase from last year’s 553 notes worth HK$166,220. Three major cryptocurrency-related fraud cases led to the confiscation of 1,693 … Read more