'Does it look like a real 10,000-won note?' The fake money being sold online

Cases of fake money — including currency replicas made as film props and "fake money" sold online — being used as counterfeit currency are on the rise.

According to the Bank of Korea, the central bank held the second regular meeting of its Counterfeit Prevention Working Committee on Wednesday morning at its headquarters in Jung-gu, Seoul, where participants shared cases of counterfeit currency detection and updates on ongoing efforts.

Attendees broadly agreed that while counterfeiting crimes and the number of counterfeit notes detected are declining overall, the indiscriminate use of fake money that can be mistaken for genuine currency is increasing, and that greater public vigilance is needed.

Fake money found in circulation falls into two main categories: currency replicas produced with Bank of Korea approval for purposes such as film props, and so-called "fake money" sold online that is manufactured without following the central bank's guidelines on the use of currency designs.

The Bank of Korea said such fake money carries the risk of being used as counterfeit currency despite the intentions of its makers and sellers, and urged the public to refrain from using it. The bank also said it plans to tighten application and management procedures for proactive risk management, noting that approvals for currency replicas have surged alongside a recent increase in content production.

"To prevent harm caused by fake money, people need to take care when receiving cash — for example, by checking each banknote one by one to make sure it is genuine," the Bank of Korea said. It added that the Counterfeit Prevention Working Committee "plans to maintain close cooperation among relevant agencies and build a framework for collaboration with the private sector to effectively block the manufacturing and distribution of counterfeit currency and establish a sound currency circulation order."