On the evening of January 19, Tay Ho District Police (Hanoi) said that advertisements for new money exchange services on social networking sites pose many potential risks to money exchangers.

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Illustration photo.

In fact, there have been many people who have exchanged new money but when they received the money back, it was not as promised, or even received fake money.

The subjects took advantage of the opportunity, preying on the psychology of people who wanted to exchange money to commit fraud. Most of the subjects, upon receiving real money from people who wanted to exchange money, immediately blocked contact and disappeared.

Usually, those who fall into the trap of scams and get counterfeit money are considered “unlucky” and do not report it to the authorities for fear of being prosecuted for buying and selling counterfeit money.

"Currently, according to the law, both buyers and sellers of counterfeit money are subject to criminal prosecution with different prison terms regardless of the denomination or value of the money being bought and sold," the leader of Tay Ho District Police informed.

Due to the high demand for payment and circulation of goods and currency at the end of the year, the State Bank of Vietnam (SBV) always directs SBV branches in provinces and cities and credit institutions to strengthen payment work, currency and treasury work.

The purpose is to ensure that cash needs are met in terms of quantity, structure and quality of money for the circulation of goods and currency.

At the same time, improve the quality of money in circulation, collect and exchange money that does not meet circulation standards. "Only State Bank branches and credit institutions are allowed to collect and exchange money that does not meet circulation standards."

Therefore, all acts of exchanging new money or small change from individuals or other organizations to enjoy the difference, or exchanging money online without permission, are violations of the law and must be prevented and strictly handled."

From there, the police pointed out 5 ways to check and identify real and fake money: Hold the bill up to a light source, check the watermark, security thread, and locator image. Gently stroke the bill to check the indented elements. Tilt the bill to check the color-changing ink (OVI), IRIODIN, and the raised latent image. Check the transparent windows. Use a magnifying glass and ultraviolet light.

In which, method 2 is to gently stroke the bill (check the indented printed elements) is the popular method and is used by many people. Just gently stroke the bill on the indented printed elements to feel the raised, roughness of the print.

While with counterfeit money, gently stroking it with your hand will only feel smooth or have a rough feeling but not have the raised, rough texture like real money.