Taiwan makes biggest haul of fake Japanese banknotes


Taiwanese authorities said Tuesday they have seized more than 200 million yen worth of fake Japanese banknotes after cracking what they called the biggest counterfeiting case in the island's modern history.

The Taipei District Prosecutors Office said the 22,879 fake 10,000-yen banknotes were seized in an April 2 raid on a residence in Yingge District, New Taipei City in which a woman there was detained.

Under questioning, it said, the woman admitted to smuggling 50,000 10,000-yen banknotes from mainland China in September 2012 and selling half of them for US$6.3 million.

She was arrested for smuggling the counterfeit banknotes into Taiwan as well as collecting or circulating counterfeit banknotes, and faces up to 10 years in prison if convicted.

Investigators are looking into the origin of the fake bills.

Source: The Mainichi