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The Bank of the Lao PDR is advising people to carefully inspect kip banknotes after bank officials discovered that fake notes were being circulated. They warned that fake 100,000 kip, 50,000 kip, 20,000 kip and 10,000 kip notes are currently in circulation.
The fake notes are being produced on A4 paper using a colour copier so they are quite different from a genuine banknote. The counterfeit notes are easy to spot if people pay attention, Deputy Director General of the Money Issuing Department, Mr Phoukhanh Sengsouligneth, said. He said people should be on the lookout for unusual paper and differences in the number contained in the silver metallic strip, the watermark image of President Kaysone Phomvihanhe, and the way the denomination amount (i.e. 50,000 kip etc) is printed. In general, the appearance of fake notes is less finely delineated than genuine notes. The bank warned that people trying to pass fake notes will insert one or two inside several genuine ones, hoping they will not be noticed. This means it's important to check every note when receiving them in quantity.
He said that anyone who was given a fake banknote should immediately report it to the central bank, the police or local authorities, giving details of where and when it was obtained so the authorities could go and investigate.
Source: http://vientianetimes.org.la/FreeContent/FreeConten_Central.htm
The fake notes are being produced on A4 paper using a colour copier so they are quite different from a genuine banknote. The counterfeit notes are easy to spot if people pay attention, Deputy Director General of the Money Issuing Department, Mr Phoukhanh Sengsouligneth, said. He said people should be on the lookout for unusual paper and differences in the number contained in the silver metallic strip, the watermark image of President Kaysone Phomvihanhe, and the way the denomination amount (i.e. 50,000 kip etc) is printed. In general, the appearance of fake notes is less finely delineated than genuine notes. The bank warned that people trying to pass fake notes will insert one or two inside several genuine ones, hoping they will not be noticed. This means it's important to check every note when receiving them in quantity.
He said that anyone who was given a fake banknote should immediately report it to the central bank, the police or local authorities, giving details of where and when it was obtained so the authorities could go and investigate.
Source: http://vientianetimes.org.la/FreeContent/FreeConten_Central.htm
