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Fake cash hits the mainland Created: 2009-1-8 1:00:31 Author:Cyril Li A BATCH of high-quality fake 100 yuan (US$14.50) bank notes is in circulation on the mainland, state media reported. The fake money, which cannot be identified by older counterfeit-cash detectors may be from Taiwan, as police on the island cracked a six-member counterfeiting ring, seizing 100 million yuan in fake notes on October 8, according to Fujian-based Southeast TV. The ring was reported to have been producing the notes for some time. An unidentified source said fake bank notes had already made their way on to the mainland. Most of...

A smuggler arriving from Sydney has been caught at a New Zealand airport with almost $US1.3 million in counterfeit notes. Mustafa Yousif Ibrahim was arrested at Auckland International Airport as he came off a flight from Sydney last night. Ibrahim was born in Sudan but is believed to have been made a New Zealand resident in the early 1990s after arriving as a refugee. A police summary of facts, presented in the Manukau District Court today, said the counterfeit money was found by customs officers as they searched Ibrahim's bags before he came through the entry gate at the airport....

Aug 25, 2005 12:42:00 AM financialwire.net via COMTEX August 25, 2005 (FinancialWire) With JPMorgan Chase & Co. (NYSE: JPM), Deutsche Bank AG (NYSE: DB), Goldman Sachs Group Inc., Morgan Stanley (NYSE: WMD) and Merrill Lynch & Co. (NYSE: MER), who dominate the credit-derivatives market, reportedly among 14 banks being called on the carpet by the NY Fed over "unconfirmed trades," and a super task force of regulators reportedly auditing the top brokerages over allegations of illegal naked short selling, it could soon be "SHO and tell" time. Regulators are smarting over allegations that they gave super hedge funds a free...

Japan’s Sankei Shimbun reported Wednesday high-quality so-called Super X counterfeit US$100 bills were brought into Japan in March by a North Korean freighter. The notes are high-quality forgeries capable of fooling even electronic counterfeit detectors. Sophisticated notes nicknamed Super K circulated in Southeast Asia in the 1990s, but the Super X is much more accurate. Japanese police said 10 of 7,100 US$100 bills brought in by the captain of North Korean freighter Lee Myong Su 7, which docked in Tottori Prefecture on March 23, were Super X counterfeits, according to the paper. The skipper told police he was given the...