Counterfeit Banknotes in South Korea

Data from the National Police Agency in South Korea showed that there were 8,202 cases involving the counterfeiting of money in the country. The number of cases investigated by security agencies was a 225 percent increase from the 3,644 cases investigated in 2008.

The number of people arrested for counterfeiting banknotes in South Korea also increased during this time period. In 2008, police arrested 182 people for counterfeiting money crimes. In 2012, there were 265 suspects apprehended, a 145 percent increase.

Security experts state that the increase is caused to the economic slump that leads people to use high quality printers and scanners in an attempt to counterfeit money.

Source:  Yonhap, “Counterfeiting of banknotes more than double in 4 years,” GlobalPost, September 21, 2013.