By Kantarawaddy Times
Money transfer agents and currency exchange operators in Karenni State are warning the public to be vigilant, as the circulation of counterfeit 10,000 MMK banknotes has increased significantly in money transfers, withdrawals, and foreign currency exchange services.
On May 13, a money transfer shop in Pekon Township’s Pekin Village on the Shan-Karenni border reportedly received counterfeit notes amounting to 800,000 MMK, according to a male recipient.
“A customer brought money to a KPay shop. The same money was later passed to me in a second transaction. When I checked the cash, I found that out of 1.61 million MMKa bundle worth 1 million MMK contained 80 counterfeit bills. The remaining 200,000 MMK were genuine, with one stack placed at the front and another at the back, sandwiching the fake notes in the middle,” he explained.
The counterfeit money was originally deposited at another KBZ Pay outlet in Pekin Village by a vendor, he added.
After identifying the fake notes, the man returned the 800,000 MMK to the original KBZ Pay shop. He also stated that if any of the counterfeit notes are later found to be in circulation, legal action would be taken against the shop that passed them on.
Although responding to the spread of counterfeit currency during this transitional period has proven challenging, the IEC has encouraged victims of such incidents to report them to the relevant Karenni State Police (KSP) authorities.
The IEC emphasized that individuals who unknowingly use counterfeit banknotes are protected under the law, but intentional distribution of counterfeit money is a punishable offense.
“In most cases, people are not intentionally distributing the fake bills. They often unknowingly pass them along through KPay withdrawals or money transfers. The shops usually don’t have machines to verify the notes. So, if even one or two fake notes slip through, it’s important to report it. The goal is not to arrest people but to control the spread,” said U Banya Secretary (2) of the Karenni Interim Executive Council.
Earlier in 2025, a similar incident involving the circulation of counterfeit 10,000 MMK banknotes worth over one million kyats also occurred in Mese Township, Karenni State.
