Chinese police seize $18.5M in fake money

July 22, 2012 at 4:47 PM

BEIJING, July 22 (UPI) -- Chinese police have arrested 463 suspects on charges of counterfeiting money and confiscated $18.5 million in fake bills, officials said.

The arrests came out of a special operation created in March to crackdown on economic crimes, China's state-run Xinhua News Agency reported.

"Fake note cases and the amount of fake notes discovered by financial institutes have been decreasing under sustained crackdowns. Police departments will continue efforts to deal with major cases to ensure people's interests and the country's economic security," said a Sunday statement from the Ministry of Public Security.

The ministry said 2,821 suspects have been arrested for counterfeit money-related crimes since 2010 and four people have been sentenced to death for manufacturing fake money.

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