NK Declares U.S. ‘Chief Culprit’ in Counterfeit Industry

The North Korean authorities have declared
the U.S as the “chief culprit of counterfeit notes printing and circulation” and
the “most hideous criminal state” regarding the manufacturing of high quality
counterfeit United States one hundred-dollar bills, known as “supernotes.”

A Chosun Central News Agency [KCNA] report
on August 26th referenced recent media coverage of a U.S. investigation that saw
the arrest of 13 people, including four Israelis, running a ring purportedly
responsible for manufacturing more than $77 million in fake $100 bills since
1999.

The report stated, in response to allegations of its involvement in a similar incident, “In a bid to make its
false ‘story about north’s counterfeit notes’ sound plausible, the U.S. has
floated such false rumors that north Korea has forged U.S. dollar notes by
importing equipment and paper from a certain country and ink from a certain
county.” Despite defector testimony and evidence confirming the allegations, it
claimed the U.S. “has failed to produce evidence proving its assertions.”

Describing the accusations as “nothing but
a conspiratiorial charade” the report went on to claim ,”The world community is
unanimous in recognizing that the U.S. administration has forged notes for
spending a lot of money for secret operations to stamp out freedom and
democracy.”

North Korea began manufacturing counterfeit $100 USD notes and circulating them internationally in 1990. The U.S.
government estimates that the North Korean authorities reaped profits of $25
million USD annually through the forged bills.

In September 2005, the U.S. Treasury
designated Banco Delta Asia (BDA), a Macau-based bank, as a “primary money
laundering concern,” in assisting North Korea to move these counterfeit funds
and banned all U.S. banks from dealing with the bank. As an additional
countermeasure to stymie counterfeiting, a new $100 bill design, incorporating
a “3D security ribbon”, entered circulation in 2013.

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