The Korea Herald

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Counterfeit $100 bills on rise in Korea

By Korea Herald

Published : Aug. 5, 2014 - 20:35

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South Korean lenders have seen a rise in counterfeit $100 bills in the first seven months of the year following the release of the redesigned denomination with bolstered security features, data showed Tuesday.

The value of fake U.S. notes found at seven local banks reached $73,143 in the January-July period, compared with $47,576 the previous year, according to industry data. Most of the counterfeit bills in circulation were $100 bills, which are the highest denomination in the U.S. currency system.

Korea Exchange Bank, which leads the country’s foreign exchange market, found $57,480 worth of counterfeit notes in the seven-month period, more than double the amount it detected last year.

Other lenders ― such as Hana, Woori and Shinhan ― all saw the amount of counterfeit bills surpass last year’s total, according to the data. (Yonhap)