The number of counterfeit banknotes found in South Korea hit a record low in 2019.

According to Bank of Korea, the number of fake banknotes found in the country last year was 267, as opposed to 614 discovered in 2018.

Xinhua reports last year’s toll was the lowest since the bank began compiling the data in 1998.

According to the news agency, the record-low bogus banknotes were credited to an enhanced security system that made it easier to distinguish real banknotes from fake ones.

The number of counterfeit bills per every 1 million banknotes was 0.05 in 2019, down from 0.12 in the previous year.

Xinhua explains it is a relatively low level compared with other countries such as Britain with 127.1 fake banknotes per million.

By denomination, the counterfeit banknotes of 5,000 won took up 43.1% of all counterfeit banknotes found in 2018.

It was followed by fake banknotes of 10,000 won with 35.6% and the 50,000 won banknote with 17.6%.

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