Article 18
(Handling of Counterfeits)
Upon discovering that the Renminbi notes presented by a customer for exchange are
counterfeit (altered), a financial institution shall inform the owner of the fact
on the spot, and in addition, stamp “Counterfeit (Alteration) - Void”thereon,
and with the consent of the holder, retain the original notes while issuing a
receipt to the owner.
Where the counterfeit (altered) Renminbi notes discovered has any of the following
conditions, the financial institution shall immediately record the real name,
nationality, occupation and address of the owner and report the matter to the
police for investigation:
1.The total value of counterfeit (altered) Renminbi notes presented for exchange is
1,000 RMB or more; or
2.The total value of counterfeit (altered) Renminbi notes presented for exchange is
less than 1,000 RMB, but the holder looks suspicious or declines to let the
financial institution retain the original notes.
A financial institution should set up a file and safekeep the counterfeit (altered)
Renminbi notes it retains, unless it is necessary to turn them over to the
Investigation Bureau of the Ministry of Justice or the International Criminal
Police for examination and investigation. For counterfeit (altered) Renminbi notes
that have been kept for more than five (5) years, the financial institution may,
together with its accounting department, destroy such notes while maintaining a
record of them.
The provisions in the foregoing three paragraphs shall apply mutatis mutandis to
the Renminbi purchase business of exchange bureaus.