Counterfeit money operation in Istanbul: Chief Public Prosecutor's Office launches investigation

Following allegations that counterfeit dollars, which cannot be detected by ATMs and money counting machines, were being kept in savings and then reintroduced into the market, some currency exchange offices and banks have stopped accepting 50 and 100 dollar bills. Following the reports of counterfeit dollars, the Istanbul Chief Public Prosecutor's Office has taken action and launched an investigation into the matter.

The Istanbul Chief Public Prosecutor's Office stated, "An investigation has been initiated ex officio by our Smuggling, Narcotics and Economic Crimes Investigation Bureau to investigate the issues of Istanbul-based counterfeit money printing and distribution brought to the agenda on social media and in some press outlets."

BANKING SECTOR HAD GONE ON RED ALERT

Allegations that there are an estimated 600 million dollars worth of counterfeit 50 and 100 dollar bills in the market have caused confusion. Currency exchange offices and banks have stopped purchasing 50 and 100 dollar banknotes.

The banking sector had also gone on alert due to the counterfeit 50 and 100 dollar banknotes. Some banks, which had been issuing warnings to branches regarding 'counterfeit dollars' for some time but had left the decision on buying and selling to branch discretion, issued a new announcement as of yesterday, stating that the purchase of "50 dollar bills and old-issue 100 dollar bills" had been temporarily suspended.

News Source: 12punto