Indonesian Political, Business & Finance News

Archive: 12 February 2025

1 article found

Police Dismantle Counterfeit Money Syndicate in Banten, 14 Arrested

Police in Banten and West Java have dismantled a major counterfeit money syndicate, arresting 14 suspects involved in the illegal production and distribution of fake Indonesian rupiah, US dollars, and Brazilian reals. The operation, which had been running for over a year, involved a sophisticated distribution network exploiting a 4-to-1 exchange ratio to defraud traders. The suspects face potential 15-year prison sentences and fines of up to Rp50 billion under Indonesian law.