Central Banking

HKMA, HSBC beef up anti-counterfeiting measures

Hong Kong's quasi central bank the Hong Kong Monetary Authority and the Hong Kong & Shanghai Banking Corp. unveiled Monday new security features to combat widespread counterfeiting of Hongkong Bank's HK$1,000 notes.

Hongkong Bank is the local division of HSBC Holdings PLC. Together with Standard Chartered Bank and the Bank of China, Hongkong Bank is one of the three note-issuing banks in Hong Kong.

Joseph Yam, chief executive of the HKMA, said Monday the new security features are in response to

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