The Da Nang Department of Industry and Trade is warning business households citywide to be on the lookout for counterfeit money, following a large-scale counterfeit money ring recently busted in the city.

Most recently, police in Da Nang have broken up a large-scale ring of making, storing and consuming more than VND1.3 billion in counterfeit cash in the city.

Fraudsters often take advantage of city-dwellers' lack of vigilance, as well as take many sophisticated tricks to bypass consumers' eyes. For instance, they often consume counterfeit money in crowded residential areas, markets, trade centers and supermarkets. They take advantage of busy sellers to buy goods with illicit banknotes, buy low value items for real money back, and mix fake and real bank notes together when buying goods to avoid detection.

Therefore, the Department of Industry and Trade requests the management boards of markets, trade centers, supermarkets, and convenience store chains to widely publicise tricks of circulating counterfeit money on loudspeakers and radio stations for the public to beware of counterfeit cash.

Sellers are advised to have the habit of checking money carefully when receiving money from customers to proactively detect counterfeit or suspected counterfeit money.

Anyone with information on individuals suspected of making, storing or circulating of counterfeit bills are urged to promptly film and take photos of suspicious people and vehicles and report to the nearest police stations immediately.

Non-cash payment through electronic payment apps at commercial centers, supermarkets and wet markets is encouraged.

Moreover, the 4.0 wet market model at the Con and Han wet markets should be expanded in other markets order to effectively combat the consumption of counterfeit money.

Reporting by QUYNH TRANG - Translating by M.DUNG