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Showing posts with label Scam. Show all posts

Showing posts with label Scam. Show all posts

9/11 coin scam warning

The United States Mint had issued a 9/11 coin scam warning following a product by National Collector's Mint; "10th Anniversary September 11th Commemorative Dollar" and claims that it is a "Liberian government authorized legal tender coin." US Mint warned users that this product is not a genuine United States coin or medal. Under the Constitution, Congress has the exclusive power to coin money of the United States. Congress has delegated its authority to mint and issue coins to the Secretary of Treasury, and Congress requires the Secretary to carry out these duties at the United States Mint. Thus, the United States Mint is the only government entity in the United States with the authority to coin money.

Consumers may find the advertisements for this product confusing because the National Collector's Mint uses phrases such as "legal tender dollar." The product itself may be confusing because it bears the denomination "One Dollar." Congress did not authorize the National Collector's Mint product, and the United States Government does not endorse it. On January 2011, US Authority said they're investigating a Fake September 11 coin minted by the National Collector's Mint. Two Democratic New York congressmen, Rep. Jerrold Nadler and Sen. Charles Schumer, have accused the National Collector's Mint in Port Chester, New York, of selling bogus September 11 coins in an attempt to exploit the tragedy for profit.

The only official United States coin or medal to commemorate the 10th anniversary of the September 11th attacks is the "National September 11 Memorial & Museum Commemorative Medal," which is authorized by Public Law 111-221 (approved by the President on August 6, 2010). You can read the scam warning in US Mint website; 10th Anniversary September 11th Commemorative Dollar Alerts. I also found some news video by WPRI TV relating to that matter:

Where to exchange Myanmar Kyat?

"Do you know where to exchange Myanmar Kyat in Malaysia? I had been asking almost all Money Changers in Kuala Lumpur, Subang Jaya and Shah Alam but I cannot find any that will exchange my Myanmar Kyat Banknote. I have 5000 Kyat notes that my friends give to me as a gift. I also asked some of my Myanmar friends but they don't know where to exchange Kyat in Malaysia."

Why people suddenly asking for Myanmar Kyat?

Many people had been cheated on buying Myanmar Kyat. They were been told that Kyat will be going up against USD one day. A recent news about a statement by Myanmar Union Minister of Finance and Revenue U Hla Tun said that Myanmar is deliberating to readjust its official foreign exchange rate in a bid to stabilize domestic foreign exchange market. Myanmar will coordinate with International Monetary Fund in the move. In a simple terms, Myanmar will revalue its Kyat. The sellers are using BNM Ringgit Foreign Exchange Rates as an excuse to sell the notes.

The truth about Myanmar Kyat

What they don't know that Myanmar Kyat had been selling in the black market since 1990. Bank and Money Changer in Malaysia will not accept it unless you exchange using the black market price. The Black Market rates and the official foreign exchange rates are totally different. BNM is using official foreign exchange rates but the truth is Myanmar Kyat has always been traded using a black market rate which takes into account the standing of Myanmar national economy. At the moment the official foreign exchange rate is MMK6.7 to USD1 but actually the price is MMK830 to USD1 in the street market.

My Answer

I am not sure how many people had been cheated buying the notes since it is not easy to get Myanmar Kyat. Unless you go to Myanmar and exchange it with USD. Not many people realize that Malaysia Bank and Money Changer will not accept Myanmar Kyat according to their official foreign exchange rates. Answering to the question given, "You can exchange Myanmar Kyat if you want to use Black Market price", that is my answer.

Try trading/invest safely, why don't you try Malaysia gold dinar.

1934 $100,000 Dollars scam

A reader asked me via email about a $100,000 US Bond. Asking me if his notes is genuine or fake. He maybe had been reading about the story of the $100,000 US 1934 Gold Certificate in my blog. He said he bought this notes from a collector friend. He also enclosed his $100,000 dollars notes that you can see below. I am 100% sure that this notes is a fake. The 1934 $100,000 Dollars scam has been around since 2006 with many buyer bought it from Philippines and Indonesia.

$100,000 Dollars Banknote feature:

The $100,000 bill was released only as a Gold Certificate in the series of 1934. Woodrow Wilson's image was shown on the obverse, while its reverse contained the "100,000" denomination printed in several places in orange- or gold-colored ink.

This 100,000 Dollar Gold Certificate is the highest U. S. denomination. Only 42,000 were printed. They were used only for transactions between the Federal Reserve and the Treasury Department. These notes were never issued for public circulation. When the Government stopped using them, most were destroyed. Only three are known to have survived. One is housed at the Federal Reserve Bank of San Francisco, one at the Bureau of Engraving and Printing, and one at the Smithsonian Institute. It's illegal for a private person to own one of these notes, and none has ever been in private hands.

Why I am saying this is a scam?

These Series 1934 gold certificates (of denominations $100, $1,000, $10,000, and $100,000) were issued after the gold standard was repealed and gold was compulsorily confiscated by order of President Franklin Roosevelt on March 9, 1933 (see United States Executive Order 6102), and thus were used only for intra-government transactions and not issued to the public. Of these, the $100,000 is an odd bill in that it was printed only as this Series 1934 gold certificate. This series was discontinued in 1940. It was issued by the Treasury Department of the US to the various Federal Reserve Banks to evidence gold deposits held at the Treasury that were equivalent to credits between the Treasury and the Banks.
If this thing is for real, why the seller sold it for a cheap price? The notes/bonds should worth at least 1 million dollars for a single note. Its a 1934 gold certificates notes.
The quality of the note look like a low quality counterfeit.
I received hundreds of email before offering me the same bonds/notes in my email. Even your email is in my spam box, automatically. I only realized about this question when you sms me about it. A Nigerian guy also called me before asking me if I want to buy cheap US notes. You can also read about 1934 $100,000 Bill scam in US Federal Reserve website:

Discovered 1930s Notes and Bonds
July 2005

The Federal Reserve is aware of several scams involving high denomination Federal Reserve notes and bonds, often in denominations of 100 million or 500 million dollars, dating back to the 1930s, usually 1934. In each of these schemes, fraudulent instruments are claimed to be part of a long-lost supply of recently discovered Federal Reserve notes or bonds.

Fraudsters often falsely claim that the purported Federal Reserve notes or bonds that they hold are somehow very special and are not known to the public because they are so secret. Fraudsters have attempted to sell these worthless instruments, or to redeem or exchange them at banks and other financial institutions, or to secure loans or obtain lines of credit using the fictitious instruments as collateral.

The Federal Reserve has never issued any bonds or notes with coupons attached. The Federal Reserve Bank of New York is not aware of any currency or debt stockpile of large denomination Federal Reserve notes from the 1930s and warns that any institution that pays out on such a claim does so at its own risk.

It should also be noted that the largest denomination of currency ever printed by the Bureau of Engraving and Printing was the $100,000 Series 1934 Gold Certificate featuring the portrait of President Wilson. These notes were printed from December 18, 1934, through January 9, 1935, and were issued by the Treasurer of the United States to Federal Reserve Banks only against an equal amount of gold bullion held by the Treasury Department. The notes were used only for official transactions between Federal Reserve Banks and were not circulated among the general public.

Federal Reserve Bank of New York.

If the offer is too good to be true, it most probably is a scam. Hopefully you don't loose a huge amount of money buying this banknotes.

Source: Wikipedia, Federal Reserve Bank of New York.

Iraq Dinar RV?

"Haven't you heard that Iraqi Dinar revalue soon? It has been all over news and everyone is buying Iraq Dinar stock. Iraqi Budget already approved by Parliament, does this clear the way for the Iraq Dinar to RV drastically & quickly? Its a little bit hard to find Iraq Dinar now since the news come out."

A reader email me about Iraq Dinar RV soon. To anyone who still doesn't know "RV" is short for "revalue" or "revaluation". Also referred to as RI (ReInstatement). The term is referring to a change in the value of the Iraqi Dinar.

Iraq Dinar RV is for real?
Yes. Currency revaluations happen all the time. Its happened before with Iraq Dinar and they produce a new Dinar with old Dinar became no value.

Why people keep on talking about Iraq Dinar RV?
Do you remember where exactly do you read about the Iraq Dinar RV? Most of the time its come from Dinar trader and seller. Its just one of their way to attract you to buy Iraqi Dinar to increase their sales and profits. When looking at the profit they said you will gain if you buy Iraq Dinar; yes, it is very tempting investment. But do you ever think how many people in this world buy Iraq Dinar for investment? When the Iraq Dinar revalue as what all the traders said it will, what will happened to Iraq economy when many people change their Dinar for Dollar? Will Iraq allowed that to happen?

Why bank is selling Iraq Dinar?
Banking is a business. If the business can gain a profit, why not? They gain so much profit from all the charges for you to buy Iraq Dinar, not including the exchange rates.

Why do you talk about Iraq Dinar?
I am an ex-investor of Iraq Dinar. Have you read my post; Should I invest in Iraq Dinar? I am talking from experience and I want to help everyone who maybe will get into their trap.

As far as a "revaluation" of Iraq Dinar, it will be happening but you will not get big profits as promise by Dinar seller. RV is just one way for the Dinar dealers to increase their sales and profits. Just remember, there will be no overnight millionaires as promised by the sellers. The new dinar most probably will be change to a new Dinar soon or after Iraq announce their currency revaluation. For me, Iraq Dinar is still a scam. You can read these old information that I can found about Iraq Dinar.

1. The Iraqi Dinar Scam Reemerges
2. Utah Division of Securities identifies Top Ten Investment Alerts for 2011.

Haven't you heard, a new Iraq currency has been planned by Central Bank of Iraq (CBI). CBI Governor, Sinan al-Shabibi in his interview with Al-Sabaah claims that the new currency’s attributes will make it ‘difficult’ to falsify. The Central Bank and the Finance Committee in the House of Representatives agreed to hold further meetings to finalize discussions on the project. The central bank is determined to raise three zeroes from the of the new Iraqi currency and presented its project to the government and the House of Representatives. Iraq New Currency.

Lufthansa crews smuggle fake euro coins

A recent news by Bild Newspaper reported that some Lufthansa crews smuggle fake euro coins back to Germany. The fake euro coins scrapped by the Bundesbank were reassembled in China and smuggled back to Germany by the Lufthansa crew. Accomplices at the German central bank then swapped them for notes. Six people had been arrested so far with a discovery of at least 6 million euro coin fraud.

The investigation start in early 2010 when a customs officer stopped a stewardess who is struggling to lift her bag at a German airport. They found, thousands of one and two euro coins in her bag. The incident sparked an investigation that has uncovered a forgery ring stretching to China and potentially implicating employees of German airline Lufthansa. Airline cabin crew do not have a weight limit on their baggage.

The Frankfurt prosecutors' office said on Thursday it carried out dawn raids on offices and residences and arrested six people, four of whom are from China. It suspects them of having smuggled coins that had been taken out of circulation or bits of those coins into Germany from China, where they had been sent as scrap metal. The suspects then put the coins back together and exchanged them for a total of 6 million euros at the Bundesbank from 2007 to 2010, the prosecutors said.

Every year the Bundesbank takes out of circulation hundreds of tons of damaged coins and breaks them into separate metals, which are then shipped to China. Some fell into the hands of criminal gangs, who hired flight attendants to take them back. Old euro coins are taken out of circulation by removing the inner part of the coin from an outer ring and thus effectively turning them into scrap metal. The Bundesbank is the only institute in Europe that exchanges damaged euro coins for free, replacing them with new ones of the same value.

The investigators recovered around 3 metric tons of coin pieces as well as a machine for putting them back together, prosecutors said in the statement.

Source: Bind News, Reuters, Herald Sun.

Iraq Dinar Scam is back

Iraq Dinar scam is back following a rumour that Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar. This is in order to increase the strength level of the Iraqi currency, which will allow people to carry less paper money. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. Haven't you heard that Iraqi Dinar revalue soon?

Iraq Dinar speculation has been around since a new Dinar has been introduced in 2003. Speculator will sell their item in bulk with a statement from Iraq news that Iraq Dinar value will be going up one day. One of the reason most of this speculator will be saying is that Iraq is the second largest oil reserve holder in the world. 95% of Iraq revenue come from oil export. They were saying that Iraq will gain its independence one day and Iraq economy will be bounce back. At that time, all Iraq Dinar holder will gain profits by trading their Iraq Dinar. The news that the speculator reported as a good news for Iraq Dinar, they're no single source or link that come from Iraq government or any news agency (some quote a news by reuters in Wikipedia, but the link is from a website: radio free Iraq?).

Where do you sell your Iraq Dinar? The truth is, there is no legitimate market that will buy any of your dinar outside Iraq. Some people suggest that we can trade Iraq Dinar via online banking? Do you know that you cannot trade it via banks or money changers outside Iraq? Buying Iraq Dinar will be easy but selling them will be a big problem. Most of the Iraq Dinar trader in US registered with the U.S. Treasury as a Money Service Business.

Some speculator even show the historical value of the Dinar. They were speculating that Independence might help Iraq to gain its value near its historical value before gulf war. Is that for real? I think to anyone who want to believe anything about that should read this statement by CNN money expert in 2004, Walter Updegrave:

"The economic prospects for a country that determine the future value of its currency, not the price it trades at now or the price it traded at in the past. And no matter how low a value a currency reaches, it can always go lower." Source: CNN

The only people who really gaining profit from this speculation is the first person who started this Iraq Dinar trading. Before you invest on anything, make sure that you can sell them. Unless there is a legal way to sell your Dinar, this speculation will always be one of the biggest Internet scam.

Should you invest in Iraq Dinar?

I had been reading about Iraq New Currency for years now. They said three zeroes will be remove for the new dinar.

Source: Wikipedia

International raids for Securency case

International raids were launched in several countries last night in connection with the Reserve Bank of Australia (RBA) bribery and corruption scandal that has also implicated a Malaysian corporate figure of receiving a RM11.3 million. The operations were to uncover evidence of corruption and bribery involving RBA subsidiaries banknote firms Securency International and Note Printing Australia (NPA). Securency is a joint venture between the Australia central bank and Innovia Films, which helps design and produce plastic-style polymer banknotes known for their durability and for being hard to counterfeit.

Yesterday, two men were arrested in raids by Australian, British and Spanish police. British and Australian police said they carried out 15 coordinated swoops on Wednesday, with another two in Spain. Two men were arrested in Britain and are being questioned. The Age investigative reporters Richard Baker and Nick McKenzie said six houses across Melbourne were raided. This involved several middlemen who helped Securency win a multi-million ringgit deal with Nigeria's central bank live in or near London, while the firm's global director of sales lives in Hampshire. The Age reported the raids would put fresh pressure on the Australian government to back a broader inquiry into Securency's dealings and the extent to which they involve failings by the RBA and agencies such as Austrade, which helped select some of the middlemen.

The AFP operation began in May 2009 after The Age revealed Securency had wired millions of dollars to offshore accounts linked to dubious middlemen, including some previously implicated in corrupt dealings. Early this year, an audit discovered more than RM150 million had been paid between 2003 and 2009 to overseas middlemen.

Malaysian Anti Corruption Commission (MACC) has been helping the AFP trace the RM11.3 million that was paid by Securency International, a polymer currency company, to its Malaysian agent. Securency and NPA engaged the Malaysian agent, against advice, in the late 1990s. The Australian companies won currency printing contracts in Malaysia for the RM50 Commonwealth Games commemorative note in 1998 and the RM5 polymer note in 2004. The Malaysian was chairman of several local companies but probably remembered for the problems that besieged the listing of a fast rising company in 1996. He had reportedly also been a broker for a Pakistani government-linked weapons-making factory and was the second arms trader to have been used as an agent by either or both Securency and NPA. Securency had also used an arms dealer suspected of supplying guns to Latin American drug gangs as its agent in Paraguay.

Source: The Malay Mail, AFP

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Group of six used bogus bills

Six people have been arrested in a counterfeit ring that allegedly passed about $300,000 in bogus Canadian currency in B.C., Manitoba and Alberta, Canada. During the searches, executed by the RCMP Federal Commercial Crime Section’s Integrated Counterfeit Enforcement Team, the Coquitlam RCMP, Vancouver Police and the RCMP’s Emergency Response Team, officers seized a substantial amount of fake Canadian bills, blank credit cards and equipment used to make fake bills and cards. Four of those arrested were men, two were women, and all are in their 20s, police said. The men remain in custody and the women were released on a promise to appear in court at a later date.

Photo by CBC: Police show some of the counterfeit bills

The arrests were made last month in Vancouver and Coquitlam, B.C., said Sgt. Tony Farahbakhchian of the RCMP's commercial crime section.

"During the execution of the search warrants, a substantial amount of fake Canadian bills (mostly 100s, 50s and 20s), blank credit cards, computers and equipment used in the production of counterfeit banknotes and credit cards was seized," Farahbakhchian said.

"This is a significant seizure as the notes associated to this group amounted to approximately 80 per cent of the total in counterfeit notes being passed in B.C. during the past 10 months."

The investigation began in November and culminated with the execution of search warrants at properties in the 1900-block of Dawes Hill in Coquitlam and the 4200-block of Dunbar Street in Vancouver on Aug. 12. The counterfeit $100 notes all bore the serial numbers EJE9791896, EJE7771896 and EJE7171891, while the counterfeit $20 notes had the serial numbers ARA9965493, ARD4089894 and ERC3300372.

Farahbakhchian said charges could be laid related to making and passing counterfeit banknotes and to possessing instruments used in producing counterfeits.

Source: CBC News, Vancouversun News.

Japanese arrested for US bond fraud

Yesterday, Two Japanese men were among four people detained by police in connection with a syndicate that is believed to have issued false bonds using the name 'Federal Reserve of America Bond' running into hundreds of millions of ringgit in a raid at a hotel in Shah Alam, Malaysia here early this morning. Shah Alam police chief ACP Noor Azam Jamaluddin said in the 1.45am raid by the Commercial Crimes Investigation Department (CCID), the two Japanese men, aged 62 and 68, and a local aged 38, were detained in a room at the hotel.

Photo by Utusan Malaysia: ACP Noor Azam (center) showing the us bond.

He said the team then raided another room in the same hotel and detained a 31-year-old Indonesian woman who had in her possession a briefcase containing bond certificates and counterfeit money.

"We also seized several other materials like 114 sheets of brown-coloured A4 paper with the words Federal Reserve Bond embossed on them and seven sheets of platinum written with "United States of America Department of Treasury Bank Memorandum".

"Also seized were 50 "The Japanese Government" currency notes and 150 Gold Certificates valued at USD100,000 each (RM314,000) four gold coins and five green cards titled "Federal Reserve Bond"," he told a press conference here.

Noor Azam said the modus operandi of the syndicate was to use the local man as a trustee to find investors.However, to date no police reports had been lodged on the syndicate. The syndicate is believed to make the bond and gold plate illegally to find victims of the investors in the country with promises of investment in construction projects such as hotels and other facilities in Malaysia.

He said his initial investigation also found that local men are arrested, it is required by the authorities in the territory of Indiana, the United States for involvement in criminal fraud. He added that he will refer men to the Federal Bureau of Investigation (FBI) for investigation. All suspects are now detained remand to assist investigations under Section 420 and Section 511 of the Penal Code. They will be remanded at the Magistrate's Court here for a period of detention for further investigation.

Source: Bernama, New Straits Times, Utusan Malaysia.

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Beware Mudah.my phishing email

I just want to alert everyone who are using mudah.my ads services of phishing email I have received asking for updating information within 24 hours. If not you will not be allowed to used mudah.my ads services. Please beware it is a phishing email and don't click on the link. Phishing is the criminally fraudulent process of attempting to acquire sensitive information such as user names, passwords and credit card details by masquerading as a trustworthy entity in an electronic communication. Communications purporting to be from popular social web sites, auction sites, online payment processors or IT administrators are commonly used to lure the unsuspecting public.

Here is how the email look like:

from: notice@mudah.my
Subject: Action required.

Dear Mudah user,
Due to recent fraud attempts we require you to confirm your personal details.Please click the link below to confirm your details.If your information is not updated within 24 hours your ads will be deleted and you will not be allowed to use www.mudah.my in any way.
Click here to confirm your account
The link will riderect you to:
http://mudahmyy.voila.net/t3i.......3v5.html

Checking the whois record of this mudah.my phishing website not relating to any Mudah.my companies. Its under Nordnet, a company based in France.

Registrant:
(NNR-france719)
France Telecom Scr
48, Rue Camille Desmoulins
92791 Issy Les Moulineaux
FR
Phone:

Registrar....: Nordnet
Web..........: http://www.nordnet.net
Whois........: whois.nordnet.net

Domain Name: voila.net

Administrative Contact:
Contact Administratif (NNR-france373) admin@domaine.wanadoo.com
France Telecom Scr
48, Rue Camille Desmoulins
92791 Issy Les Moulineaux
FR
Phone: +33.158885349 Fax: +33.158887580

Technical Contact:
Contact Technique (NNR-france681) dop.tech@domaine.wanadoo.com
France Telecom Scr
48, Rue Camille Desmoulins
92791 Issy Les Moulineaux
FR
Phone: +33.497128733 Fax: +33.497128501

Billing Contact:
Contact De Facturation (NNR-wanado95) billing@domaine.wanadoo.com
France Telecom Scr
48 Rue Camille Desmoulins
92791 Issy Les Moulineaux
FR
Phone: +33.158885349 Fax: +33.158887580

Please help spread this story to all your friends and family who has been using Mudah.my services.

PS: I am also received an email with Viagra selling link from one of Malaysian coin blogger in my link. Anyone received the similar email?

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Four Africans Detained For Cheating

Yesterday Bernama news reported four Africans detained for cheating a housewife by selling her fake notes. Four African men who introduced themselves as currency remittance agents to a housewife were arrested following the discovery of more than 12,000 pieces of forged currency at a luxury condominium here. The 53-year-old victim lodged a police report after losing more than RM17,000 that had been paid to process the release of more than US$3.5 million (RM11.5 million) purportedly sent to her.

Photo by Kosmo: RM11.2j wang palsu Mat Afrika (RM11.2million Africans fake notes).

The head of Kuala Lumpur Commercial CID, ACP Izany Abd Ghany said the victim received a call on June 2 from one of the suspects who claimed that there was a currency remittance made to the victim, but the victim was required to make several payments to process the release of the currency. He said the victim, who believed what the man had said, later met with the suspect at a car park of a private hospital, here and handed RM5,650 in cash to the suspect.

"After the payment was made, the victim was later asked to make a second payment of US$3,550 (RM11,623) on June 7 at Avenue K, Jalan Ampang, here," he said at a media conference.

Izany said as the victim had not received the remittance that was promised after making two payments, she finally lodged a police report after realising that she had been cheated. He said the victim later received a call from the suspect asking her to make a third payment at Avenue K at about 3pm, last Thursday. He said when the payment was being made, police detained the 27-year-old suspect and later raided a luxury condominium unit at Kampung Baru Ampang, here and detained three other suspects.

Upon inspecting the unit, he said police found 8,400 pieces of RM50 notes, US$100 (4,200 pieces), US$50 (120 pieces), US$20 (30 pieces) and US$10 (80 pieces) which were kept in two suitcases.

"All the suspects who were detained were aged between 22 and 30 and were believed to have entered the country in 2007 using student visas while one of the suspect used a UNHCR (United Nations High Commissioner for Refugees) pass," he said.

Izany said the syndicate had been active for the past two years and all the suspects were remanded for 14 days until June 24. They were being investigated under Section 420 of the Penal Code for cheating and Section 489C of the same act for possessing forged currency.

This is just one of the news about how African cheating people in this country. Many other story of Africans doing crime in this country can be found in Malaysia local news. Its time for authority to do something to stop this. In some places, Africans is more then local. It make them think that they own that places and do something that is not a visitor supposed to do in this country. Most of them coming to this country illegally, why no action taken?

Source: Bernama.

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Tungsten coin advertisement?

Today I found an advertisement from a Chinese website that claimed they can produce a tungsten gold coin; found it via kitco.com forum. After I knew about tungsten can be a good substitution alloy for gold, whenever I found any news about it, I will read and try to understand. I been told that there is no evidence of a tungsten coin been proven yet. The only proven thing about tungsten replacing gold so far is in one old video from Germany. This advertisement maybe will alert us that one day, tungsten gold coin in your bullion coin maybe will exist. If they can find a good cheap way to produce them.

Here is what the company claimed can do with Tungsten:

Why tungsten alloy is used as gold substitution?

In theory, as its density is 19.1g/cm3, which is approximately 70% denser than lead, uranium could be used as material of making fake coin. However, it is weakly radioactive and not as dense as gold, so it does not appear to be a practical method.

Then people have discovered that tungsten is environmental-friendly, durable and hardness, the most important is that its density of 19.25g/cm3 is just about the same density as gold (19.3g/cm3), which bears the similar specific gravity. These advantages make tungsten enjoys the superiority to be the best substitute for the costly metal of gold or platinum. It is necessary to tell that alloying gold with tungsten would not work for several reasons but a coin with a tungsten center and gold all around it could not be detected as counterfeit by density measurement alone.
The appliances for tungsten alloy as gold substitution:

Nowadays, tungsten alloy is increasingly used in some field relevant to gold or platinum substitution, such as: jewelry, e.g. ring, ear ring, necklace, wrist chain, etc. Also, it is widely adopted in making souvenir coins, such as memorial crown and other application such as watch band.

Since tungsten alloy bears a special property of longevity and high durability, when it is utilized to make jewelry, it always implicate the love between lovers or couple could be everlasting. Its hardness makes it ideal for rings that will resist scratching, are hypoallergenic, and will not need polishing, which is especially useful in designs with a brushed finish.
Chinatungsten offer tungsten alloy as gold substitution:

We are well accustomed to exploit more innovative applications of tungsten products. Gold-plated tungsten is one of our main products.

In details, pure tungsten, in the forms of round disc, plate, sheet, ring, and etc., can be perfectly coated with gold layer with clinquant shine, to replace gold or platinum merchandise except its currency function.

If you are interest in this information, please feel free to contact us. Any questions or enquiries about tungsten alloy products will be welcomed by email.
Tungsten Alloy Coin Tungsten Ring
Notice: Chinatungsten Online (Xiamen) Manu.&Sales Corp. is a very professional and serious company, specializing in manufacturing and selling tungsten related products for more than two decades. Our gold-plated tungsten alloy products are only for souvenir and decoration purpose. Here we declare: Please do not use our gold-plated tungsten alloy products for illegal purpose.

website: tungsten-alloy.com

The issue here is that this company advertising their product with a picture of Australian Gold coin without Queen Elizabeth II head. That is just maybe a marketing strategy but that really make people wondering if they can really produce fake gold coin filled with Tungsten. What I understand it is very hard to put an image on tungsten since there is no machine that can accurately produce same image as on the coin yet. Most probably the fake coins will not have the same image as the original one. Their weight also will not have the same exact weight as original. The fake tungsten gold bullion coin is still hard to produce but there is a possibility it will be exist one day.

Currently, this company is just selling gold plated tungsten paper weight but who know they just saying that to cover their customer. If you were selling fake items to anyone, do you want to tell everybody that you supply that kind of thing to the rest of the world? Fake and imitation item is a big business in China. I am not saying this company produce fake item, just sharing that the probability of fake tungsten coin is still possible. Just make sure you buy from a reputable dealer not some cheap gold bullion seller from the Internet.

Source: Kitco.com forum.

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How to make counterfeit 100 dollars

I am looking for a video about how to make counterfeit money in youtube yesterday. What I found is a shocking story how easy it is to make a counterfeit 100 US Dollar bill. The video exactly is a NBC TV programs-Vegas Undercover with Chris Hansen. The suspect in this July 2009 video is 39 years old, Bryan "Rusty" King.

It this video, you can see how easy it is for Rusty to make a counterfeit USD$100 notes. Undercover Police paid rusty 1,500 for his demonstration in the fine art of counterfeiting. First, he takes real five dollar bills and sets out to remove all of their ink. He soaks them in a degreaser (some people use nail polish) bought at an automotive store and heats them up for a minute or so in a microwave oven. The Bill need about one and half minute in the microwave oven and leave it in there for about ten minutes. Rusty showing the undercover officers how he clean the bills, and actually taking the ink right off. He finishes washing the bill in a bowl of water and sprays it with a household cleaner.

He then uses a hairdryer to finish the drying process. When he's done, what used to be a $5 bill is virtually blank, except for the watermark of Abraham Lincoln. To make the fake hundred he'll use an inkjet printer and a scanner. He scans a photo of a real hundred dollar bill and prints it on top of the blank paper he just created from that five dollar bill. The result is a piece of counterfeit hundred dollar bill. What's the quality? The police say as counterfeits go—it's fairly good. If someone were to take the time to hold this up to a light you could actually see Abraham Lincoln and the $5 strip here. But most people don't do that.

In case you’re thinking of trying this at home, you should know we've left out a number of key steps. Counterfeiting is a felony, punishable by up to 15 years in prison. Counterfeiting US currency and bank cards is felony under US federal law. Manufacturing counterfeiting money: fine $5000 or 15 years in prison. (title 18, section 472 us code). Possession of counterfeit money: fine $15000 or 15 years in prison. (title 18, section 472).

This video show how easy it is to make a fake currency. this counterfeiting money exactly work because most people don't check their money once they receive it. With a difference watermark, it is easy to spot this fake notes by Rusty but most people will not check for it. The paper is the same as the original notes, only the print have some mistake. Adding up with a high tech inkjet printer that can be easily found nowadays, printing your own fake money is not that hard.

I found the story via youtube user MakingOnlyMoney with a title "Suspect caught making fake money".

Source: Msnbc.com, Youtube, Vegas Undercover by Chris Hansen.

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Counterfeit money gang jailed

One gang of eight men have been jailed for a multi-million pound counterfeiting scheme. The gang had been arrest after a 12-month undercover operation by South Yorkshire Police in which more than £230,000 was recovered. The men, from South Yorkshire, Leeds, East Yorkshire, North East Lincolnshire, London and Norfolk, had been distributing what were described as high quality counterfeit £20 notes and 50 euro notes from London. They had admitted either conspiracy to supply counterfeit currency or conspiracy to defraud the Bank of England at Sheffield Crown Court. The group also made counterfeit £2 and £1 coins and a smelt for the manufacture of the coins was recovered.

Photo by Yorkshire Post: £20 notes and 50 euro notes found

Detectives launched an investigation in 2008 and the gang, who were involved in passing fake £20 and 50 euro notes as well as £2 and £1 coins, were eventually trapped by an undercover police officer. South Yorkshire Police said the group was linked to the "organised wholesale distribution of counterfeit currency running into millions of pounds". A total of £237,000 was recovered from the group of men, although it is believed they are responsible for the distribution of much more. He said that since the arrests, the Bank of England has seen a reduction in the number of counterfeit £20 notes registered on their database.

Photo by Yorkshire Post: (top left to right) Yasin Patel, 45, Derrick Davies, 46, Malcolm Moate, 56, Michael Kinghorn, 63, (bottom left to right) Peter Edwards, 57, Michael Maddon, 66, Norman Oliver, 62 and Terence Quinn, 59.

Derrick Davies, 46, of Grove Road, Attleborough, Norfolk, who was jailed for five years and three months. Malcolm Moate, 56, of Landsdowne Close, Barnsley, and Yasin Patel, 45, of Glenfield Close, Lancashire, were sentenced to four years each. Peter Edwards, of 57, Pickard Street, London, was given a two-and-half year jail term. Michael Maddon, 66, of Beckett Street, Leeds, and Norman Oliver, 62, from Goole, each received an 18-month sentence. Michael Kinghorn, 63, of Strafford Street, Barnsley, was imprisoned for 16 months. Terence Quinn, 59, of Briglsey House, Immingham, who was jailed for 12 months.

That is one big catch by a police. But in my opinion, that counterfeit money will keep coming in because people became more greedy everyday. This organized crime has been around for quiet some time. For some people, doing crime is far more easy then doing an actual work, if you don't get caught though.

Source: BBC News, Yorkshire Post.

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This guy called me before

For the past few month, one African guy called me and sms me telling that he want to meet me. In his sms, he is telling me that he want to sell me old RM50 and US Dollar for a very good bargain. When I asking him what series is that fifty ringgit is, he don't reply back. When I called his number, he also cannot give detailed about what he want to sell. I know something is wrong and never reply to this guy sms and called ever again. He changed his number few times and still trying to lure me to his trap.

Photo: Chief Asst Comm Izany Abdul Ghany show the fake money

On 12 February 2010, a news in local star newspaper stated about a Cameroon national held over fake notes. Police detained the Cameroon national who allegedly tried to “trade” RM140,000 in fake ringgit notes for US$20,000. The 28-year-old suspect caused minor injury to a policeman while resisting arrest on Monday. The policeman suffered a gash on his right arm while trying to arrest the suspect. The suspect pleaded innocence and claimed that he was a student. However, further investigations revealed that it was not true.

“The victim, in his 50s, had informed us that an African was trying to trade the fake notes. We decided to trap the suspect. He was arrested near Persiaran Hampshire off Jalan Ampang as he was on the way to make the currency trade,” City commercial crime unit division chief Asst Comm Izany Abdul Ghany said in his press statement.

Police found 1,778 fake notes of RM50 denomination inside a black bag in his car. The suspect is believed to be involved in a syndicate which called up people at random to trade genuine currency for fake ones of “higher” face value. Those who are greedy will not be rejected if the exchange offer a double benefit.

Izany said the suspect had no identification documents admitted into this country using the student pass. He said the suspect is believed to carry out these activities by calling the victim consists of members of the business at random. In the telephone conversation, he will offer service exchange ratio with the victim $ 20,000 U.S.: RM140, 000. Izany said the suspects are remand for four days and for further investigation under Section 420/511 of the Penal Code.

I know this guy and his friend called me before. I don't have their details anymore since I already deleted the sms and I don't keep his number. This "awang hitam" already give so many social problem to this country. If they want to do business with me, I already give negative perception that their business is illegal. They always giving excuse that there are student in this country? To Malaysia enforcement agency and authority that relevant to this "awang hitam" coming in into this country, why no action taken to stop them from coming in? If this so called student just coming in and try to bring trouble, why don't just keep them away from this country?

Source: Malaysia Star News, Bernama

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Gold coin for $50 dollar?

What will you do if someone trying to sell to you a one ounce Canadian Maple Leaf for $50 dollar? Do you dare to buy them? What the first thing that will be in your mind? Do you know that the current value of that coin is at least $1,108.00 dollar (when I write this post)? This is sound like a joke to anyone but in my opinion many people don't know the value of the gold coin and most of them think that this guy is trying to scam or do prank on them. This 6 minutes video end up with nobody take the precious gold coin.

Mark Dice from the The Resistance tries to sell a one ounce pure cold coin for $50 but nobody has a clue how much gold is worth, and nobody wanted it. He even asked If anyone will buy him a Starbuck coffee for this gold coin. Nobody even try to look at the coin if it its real or fake? A 999 Gold coin for 50 dollar, most people would not waste their time for a scam, maybe? I really wish I was there and buy that coin for $100 dollar.

Gold price has been up and reach its high record price at $1,123 per ounce on Thursday. The Gold record breaking trail for this recent weeks mainly because of the weaker US dollar. Many people is waiting until February 2010 and wish that the prediction that gold will achieve its record high at $1,400 per ounce. I myself try to find any gold coin for sale in the recent week but can only found few gold coins. Malaysia Kijang Emas is a hard find in any local bank nowadays. You need to booked your Kijang Emas, if you're lucky and someone want to sell them.

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Nigerian Black Money Scam

I received dozen of black money scam email a day. This scam usually begins with a letter or e-mail purportedly sent to a selected recipient but actually sent to many, making an offer that would result in a large payoff for the victim. The e-mail's subject line often says something like "From the desk of Mr. [Name]", "Your assistance is needed", and so on. The details vary, but the usual story is that a person, often a government or bank employee, knows of a large amount of unclaimed money or gold which he cannot access directly, usually because he has no right to it. The money could be in the form of gold bullion, gold dust, money in a bank account, blood diamonds, a series of cheques or bank drafts, banknote and so forth. Many operations are professionally organized in Nigeria, with offices, working fax numbers, and often contacts at government offices.

Photo by: The star.com.my

This kind of scam also called among other, as the Nigerian Letter (also called the 419 fraud, Nigerian scam, Nigerian bank scam, or Nigerian money offer, the Spanish Prisoner, the black money scam as well as Russian/Ukrainian scam (also extremely widespread, though far less popular than the former). The so-called Russian and Nigerian scams stand for wholly dissimilar organised-crime traditions; they therefore tend to use altogether different breeds of approaches.

Photo by: The star.com.my

In Malaysia, the scam has been started since 1998. Most of these con artists enter the country on a social visit pass which allows them to stay up to 30 days. They tend to enrol in local colleges, some even reputable ones, just to obtain student visas so that they could extend their stay here. These so-called students are believed to pay off college staff to mark their attendance.

Photo by: The star.com.my

In the Black Money scam, victims are told about a stash of bank notes which had been dyed black to avoid Customs detection. The money was supposedly kept in a safe somewhere and the victim should purchase a type of chemical to wash off the dye which would then unveil “genuine” US dollars. con men, upon meeting their target, would produce a small vial of washing liquid called “Universal Automatic Washer” and ask the victim to select any black bank note at random. The black banknote would be washed but with a sleight of hand,the con man would substitute it with a real note. Victims are given the “washed” bank notes and are encouraged to verify their authenticity at a money changer.

Photo by: the hindu.com

This is just an alert for everyone for such a scam. Don't be fuelled by your greed, someone might taking advantages of them. This Nigerian conman also use local women to carry out their deception, targeting single mothers or college students and using their bank accounts to conduct their shady business. Just make sure your friend and family doesn't fall into their trap. If an offer is so good to be true and most probably its a scam. Any of you receive the similar e-mail lately?

Source:Wikipedia, the star.com.my, hindu.com

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Canada maple leaf scam

I am looking for a story about how people make a replica of a coin and its resulted finding this story of Canada Maple leaf scam. This can be happening to any coin collector around the world and a great read to make use aware of this kind of scam. This Maple Leaf scam happened in the United States. They're called as a "million-dollar gold coin scam" involving counterfeit versions of the Royal Canadian Mint's famous one-ounce Maple Leaf coin.

Using a few genuine Maple Leaf gold coins and hundreds of fakes, the suspects are alleged to have enticed jewelry store owners into buying significant numbers of counterfeit coins. Merchants were typically offered a cut-rate deal for a large shipment of coins after being given one or two real ones for authentication. In March, a jeweller in Red Bank, N.J., was drawn into a deal to acquire 100 of the Canadian coins, that have a symbolic face value of $50 but are currently selling for about $1,000 each. The jeweller was given a single Maple Leaf coin for testing and agreed to pay cash for the entire collection, which the seller claimed he'd received as an inheritance.

A week after the initial meeting, the seller and an associate arrived to complete the transaction, but when the jeweller questioned the authenticity of the 99 other coins delivered by the pair, one of the suspects "pulled out a black handgun and demanded the cash," according to an account of the heist released by New Jersey prosecutor Robert Bianchi. The pattern was repeated at various jewelry stores in New Jersey, and investigators discovered similar attempts at executing the Canadian coin "confidence scam" in New York and Maryland.

Three suspects who had been under surveillance were arrested on Sept. 19 at a shopping mall in Kinnelon, N.J. The car in which the three had driven to the mall was searched by police, who found 200 counterfeit Maple Leaf gold coins. Three men in their 50s — David Bell, William Gary and Hakim Shaheed, all New Jersey residents — face initial charges of theft by deception and conspiracy.

Source: Vancouver Sun

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Treasure Hunting: Chauncey Wolcott Chest

I found this story in associated press news on 7 October 2009 about Patty Henken, an Illinois woman who set out on a treasure hunt for buried gold coins after finding a cryptic note in an antique rocking chair. She may have been the victim of a prolific prankster who died more than 30 years ago. With help of a donated backhoe, Patty Henken recently tore up a vacant lot in Springfield, Ill., where a typewritten note signed by "Chauncey Wolcott" — found in an old chair she bought at auction last November — suggested she would find a chest containing more than $250 in U.S. gold coins.

Henken's life got interesting in May when, while prying off the seat of a rickety rocking chair she bought at auction five months earlier, she discovered a small envelope with "Finders Keepers" typewritten on it. Inside, a key was taped to a typed note. "This DEXTER key (number sign) 50644T will unlock a lead chest," the note began, before spelling out a location in Springfield — 1028 N. Fifth St. — where a chest containing more than $250 in U.S. gold coins supposedly was buried 12 feet below ground. The stash, the note claimed, included eight $20 gold pieces, six $10 gold pieces, five $5 gold pieces, three $2 1/2 dollar gold pieces and two $1 gold pieces. The undated note, signed by a "Chauncey Wolcott," included a request to contact the Springfield newspaper if the chest was ever found.

Photo by: dailylife.com

The dig turned up nothing but bricks and old bottles. Henken planned to return Tuesday with the donated services of a man with ground-penetrating radar meant to detect any buried items, but the treasure note's promise may already be debunked.

An Iowa woman who read news accounts of the hunt said she knows Wolcott's true identity: John "Jay" Slaven, a notorious practical joker and coin collector who often used a typewriter in his pranks. Slaven used the pen name "Chauncey Wolcott" and lived for decades at the location where the dig took place, until his 1976 death, according to Betty Atkinson Ryan of Mason City, Iowa. She e-mailed a columnist for the State Journal-Register of Springfield to set the record straight. Atkinson Ryan told the newspaper that Slaven was her boss in the Journal-Register's classified advertising department decades ago. She said Slaven often used a typewriter to compose some of his jokes and signed them "Chauncey Wolcott." The newspaper said archived news articles described Slaven as an actor with a "booming voice" that he used in television appearances, about 50 radio shows and to narrate the annual Illinois State Fair film.

Henken, of Mount Sterling, Ill., said Sunday that she was disappointed there's no closure but still was hopeful Slaven may have left something to unearth. That property's current owners gave Henken permission to tear up the site in search of the supposed booty if they got an equal share of any find. But they pulled the plug on any more digging now that Slaven may have pulled one over on everyone.

I wish Henken and her crew good luck on finding a treasure by a prankster. If you're Henken, do you keep on wasting your time and money searching for the prankster treasure?

Source: Associated press.

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Malaysia Sa-puloh ringgit with Agong Watermark

Every month I received at least 20 calls, sms or e-mail asking me if I have Malaysia old sepuluh ringgit banknote with Yang Dipertuan Agong Watermark. Everyone is asking What is the watermark for my Sa-puloh ringgit banknote on sale in Mudah.com.my. If I have a banknote with different watermark then it suppose to, why do I sold them at a normal price? If I have any for sale, I should had been putting a rare banknote title on them since it is something that I myself never saw from over 15 years of my collecting.

Every avid Malaysia banknote and coin collector knew that Malaysia banknote from the first series up until the fourth series has a tiger watermark on them. The fifth series until the current banknote has the 1st Yang Dipertuan Agong banknote watermark. Why exactly the fuss about old Malaysia banknote watermark with Yang Dipetuan Agong? Does anyone see them with their own eyes?

One of my buyer asking me if what I have for sale in mudah.com.my is fake? When I asked him why done such a harsh accusation on my sale. He is telling me that he is seeking for a fake Malaysia old Sa-Puloh Ringgit banknote with Yang Dipetuan Agong watermark on them. He is been looking for this banknote for years without any luck. Another of my buyer is tellling me that he saw this banknote in Kuching, Sarawak been used as a tools in witchcraft or "menurun" for 4D number.

For the past few weeks, whenever I called my banknote collector friend, I will try to remember asking if any of them have any of this banknote in their possession. Everyone is either laughing or asking if I am into fake banknote collecting nowadays. Most of them been asked by their buyer and visitor about the same banknote almost everyday. Some of my friends is telling me that this banknote most probably is fake. Some people really do have a skill making a fake rare banknote like this to make some fast extra cash. They are using an original banknote and changing that watermark or make a different color variety. If they can make fake banknote watermark, why don't they make a fake current one ringgit with Ali Abul signature? Its price already gone up to 2 thousands ringgit for uncirculated condition.

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