“They even run FB Ads!” – Illicit Syndicates are Openly Selling Fake Ringgit Banknotes on Social Media

Counterfeit banknotes can affect the economy by creating losses for businesses and persons, and can ultimately affect the cost of things that we buy. Oh, and also, they’re obviously illegal.

With that being said, why would anyone openly sell them online?

The Pelabur Bijak Twitter page recently exposed a Facebook account that is openly selling fake Malaysian Ringgit banknotes.

They wrote, “Pay RM300 to get RM1,000 (fake banknotes). Pay RM500 to get RM3,500 (fake banknotes). The other day, there was an advertisement on Facebook. They informed to not use (the fake banknotes) at cash deposit machines.”

“These syndicates are becoming more and more professional when it comes to more and more sophisticated and accessible machines, it’s just that the paper is rare, it is hard to keep it neatly and it’s hard to source.”

We genuinely hope that the authorities take notice and action against these online sellers to prevent the counterfeit money from going into circulation in the general public.

After all, what if the fake banknotes end up in the hands of the underprivileged through change and they end up not being able to use it to buy essentials?

What do you think about this? Do feel free to share your thoughts in the comment section. 

Also read: M’sian Man Condemned for Promoting & Selling Double-Sided Number Plates On Social Media