A recent spate of counterfeit 1,000 baht banknotes being circulated in the local economy has led to many small business owners refusing to accept them. This fear has led to a potentially serious problem concerning cash transactions in local markets. Visitors to any of Thailand’s local markets will find it nearly impossible to spend a 1,000 baht note. Somchai Setakornnukul, a senior director with the Bank of Thailand (BoT), reported that its bank had discovered 18,895 counterfeit notes between January and November 2008. This particular bit of news caught fire in Thailand, spreading quickly throughout the local business community. Vendors have expressed concern over whether it’s illegal for them accept forged notes or accidentally redistribute them. So they are refusing to accept them or using excuses not to take them. Apisak Tantivorawong, chairman of the Thai Bankers’ Association (TBA), insists that any cash taken from an ATM or bank office is completely safe, as all notes have been checked before being distributed. Local rumors have it that the Red Wa army along the Burmese border is responsible for producing the fake notes, reportedly selling them for 350 baht each. It is advised that visitors carry small banknotes for small transactions, and save the 1,000 baht banknotes for large stores and bigger purchases. 2009-01-06T12:21:00+07:00 1067 2009-01-04T12:23:43+07:00 5 true 1067-counterfeit-banknotes-make-vendors-nervous Andrew