Fake money is spreading rapidly across North Korean markets as the local currency collapses. Authorities launched an urgent crackdown to curb counterfeit U.S. dollars and Chinese yuan. The directive reached banks, police stations, neighborhood offices, and markets nationwide. Officials provided detailed instructions to confiscate, record, and report fake currency. The government aims to stabilize trade and protect citizens from losses.
Banks must seize fake money immediately once discovered. Staff must record the time, location, and identity of the person carrying it. They issue a confiscation receipt to confirm the action. Authorities also transmit details electronically to local committees and police. This system strengthens oversight while tracking counterfeit distribution networks effectively.
However, citizens are required to surrender fake money without dispute. Banks give receipts split into two parts for record-keeping and verification. Each receipt carries a serial number showing which bank issued it. Furthermore, officials designed this process to encourage voluntary compliance rather than punish holders. Cooperation ensures quicker identification of counterfeit circulation.
The crackdown follows sharp spikes in foreign exchange rates. The U.S. dollar rose from 27,500 won to 43,000 won, while the Chinese yuan surged from 3,800 won to 5,600 won. These dramatic changes created ideal conditions for counterfeiters. Citizens desperately sought stable foreign currency as the local won lost value rapidly. Fake money circulation increased as a direct result of these economic pressures.
Overall, authorities emphasized that all agencies handling foreign currency must remain vigilant. Banks and official money changers coordinate with local security offices to investigate counterfeiters. In addition, the government wants to restore confidence in legal currency while preventing fraud. This unified effort also aims to stabilize markets and prevent panic.
In conclusion, the North Korean leadership views fake money as a serious threat to economic stability. Officials are acting swiftly to contain its spread and reassure citizens. Coordinated monitoring and enforcement demonstrate the urgency of addressing counterfeit currency. With these measures, authorities hope to limit risks and restore trust in the market.
