Police arrested a 58-year-old man at his Po Tin Estate apartment in Tuen Mun for allegedly using counterfeit HK$1,000 notes several times in Sham Shui Po.
The suspect, surnamed Kan, is said to have a history of using printers to produce fake HK$100 notes, news website hk01.com reports.
It is believed that he got greedy and attempted to make banknotes of larger denominations, which led to his arrest.
Inspector Wong Sau-lok of the Commercial Crime Bureau said Kan was accused of using HK$1,000 bills at two shops on Sham Yen Chow and Hai Tan streets in Sham Shui Po recently.
Shop staff suspected that the bills were fake and called the police.
Police also seized fake notes, a computer and a printer from his Kan’s home.
The fake notes were made using a laser printer with low-quality security threads and laser marks that were not reflective, Sing Tao Daily reported, citing the Commercial Crime Bureau.
The watermark appeared to have been printed with light-color ink while the holographic windowed thread was not double-sided and poorly attached to the bill.
These are telltale signs that the notes are fake, police said.
Wong said several other cases involving the use of counterfeit HK$100 bills have been reported since June, and police are trying to find out if Kan was also involved.
Police have confiscated over 1,385 counterfeit bills over the past six months.
Meanwhile, a message circulating on WhatsApp recently has it that fake HK$500 bills are circulating in the city.
But a closer look at the bill shows that it is a genuine banknote issued by Standard Chartered Bank in 2010, the Hong Kong Economic Journal reported.
The Hong Kong Police Force said on its Facebook page that if members of the public are in doubt, they can always visit the Hong Kong Monetary Authority website to authenticate the bills.
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