Thread: Businessman urges recall of Bt1,000 notes

FAKE NOTES

Businessman urges recall of Bt1,000 notes

The government should adopt the Malaysian model in handling fake banknotes, by calling back all Bt1,000 notes and print new forgery-proof notes, said a businessman in Songkhla.

Pichit Bunphalamlert, managing director of Sunny Tour Co Ltd - a major tour operator, said about 10 years ago, Malaysia suffered from the spread of fake 50-ringgit and 100-ringgit notes. Then, all the notes were recalled and new ones were printed and proved more difficult for counterfeiting.

He said the recall is necessary as confidence in the Bt1,000 banknotes in neighbouring countries like Malaysia and Singapore and others could be affected, and it could affect trade and services paid for by the notes.

"If the news spread wider in Malaysia and Singapore, traders and service providers may lose confidence in the Thai banknotes. The government should act before it's too late," he said.

nationmultimedia.com

Didn't they do they a few years back? Introduce, into circulation, brand-new looking Bt1,000 notes with all the state of the art deception methods?

Commerce Minister: Shopkeepers not affected by fake banknote
28 December 2008
Wanitcha Sumanat

Following her recent inspection of 1,000-baht counterfeited banknotes, Minister of Commerce Mrs. Pornthiva Nakasai divulged that shopkeepers expressed confidence that faked banknote crisis would not hit their sales.

Mrs. Porntiwa said on Saturday (December 27) the inspection was organized by Krung Thai Bank for fear that the crisis would possibly hit national trades due to consumers’ lack of confidence in spending. She said entrepreneurs understood how to check the fake banknotes.

At the same time, the Bank of Thailand (BOT) spokesperson informed that only a few of fake 1,000-baht banknotes would be found in the country's trading system. Now there are 640 million baht worth of 1,000-baht banknotes circulating in the trading system. She said all relevant organizations also helped inspecting the banknotes circulated in the system.

thainews.prd.go.th

see that advisory team has failed it's first test ...........

Everytime I hand over a B1000 note now they really check it out!

I took one to a bank exchange as I needed change for a taxi, although the guy didn't say it was fake, he refused to take it because it looked dirty?

All well and good that

...entrepreneurs understood how to check the fake banknotes.

...by this she means banks too, but by the time they circulate and return to a bank as a deposit they've passed through so many hands that the last person holding a fake becomes 'it'.

Also, most farangs get their 1000s from a bank, ATM or bureau de change, and often in larger amounts than they can comfortably examine on the hoof. Not much can be done at an ATM if you end up with one or a dozen, except stay a fine upright farang or go spend it, but sod the queue, examine each one at the counter.