Kenneth Rijock

Kenneth Rijock

Sunday, January 20, 2019

SOUTH KOREA FINANCIAL REGULATOR'S ANNUAL REPORT FAILS TO ALERT BANKS AND CONSUMERS TO EITHER NEW USD$100 SUPERNOTE OR CHINESE COPIES IN HANDS OF ORGANIZED CRIME

(FSS logo)
The Financial Supervisory Service (FSS), the financial regulatory agency of the Republic of Korea recently published its Annual report, on January 19, 2019, but the report failed to notify either the financial sector, nor consumers, of the existence of either the latest iteration of USD$100 "Supernote", Series 2006, which was identified at KEB Hana Bank, or of the Chinese-made copy of the 2006 Series, known to have been shipped, in great quantities, into South Korea.

Given the lag time between completing and publishing information, and to give the FSS the benefit of the doubt, I went back 4 months, looking for any mention in FSS press releases, about either of these bogus currencies, either of which could seriously affect both public faith in the Dollar, and the global economy in general, should these currencies be released in quantity. I failed to find any mention of either threat.

Perhaps the FSS wishes to publicly explain why it is keeping its banks, as well as Korean consumers,  in the dark about these emerging threats; It may also want to consult with the Federal regulatory agencies in the United States.

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