A group of four Hong Kong fraudsters, who swindled victims’ digital assets worth $ 1.4 million between October 2023 and July 2024, have been apprehended. The suspects, aged 14 to 39, are charged with conspiracy to defraud and possession of 5,000 counterfeit banknotes. According to Hong Kong laws, producing and circulating counterfeit currency can …
The Libyan dinar’s recent devaluation has been blamed on a flood of illicit banknotes exchanged for U.S. dollars. A report identified the Russian state money printer as a potential source of the banknotes, which the Central Bank of Libya has labelled counterfeit. Russia Linked to Illicit Libyan Banknotes A June 24 Reuters report said the […]
Hong Kong police have issued a warning over the rise in counterfeit banknotes, with many cases linked to cryptocurrency scams. Between January and April, authorities seized 3,396 fake notes valued at HK$ 2.55 million (US$ 326,130), a significant increase from last year’s 553 notes worth HK$ 166,220. Three major cryptocurrency-related fraud cases …