Around the World: AI Creates Fake Cambodia Bank Notes
Cambodia is warning the public about AI-generated counterfeit bank notes, highlighting a new challenge in the global fight against currency fraud.
Bank notes have been counterfeited since they were first introduced as a convenient substitute for carrying a pocket full of bulky coins. AI-generated counterfeit bank notes…that’s something else. In Cambodia, it’s already there, and the National Bank of Cambodia (NBC) is sounding the alarm.
This isn’t the first alarm the Cambodian national bank has been facing. More than 90% of commercial bank deposits and about 85% to 90% of all cash financial transactions are conducted in U.S. dollars rather than in Cambodian riel coins or bank notes.
Cambodia officially uses bank notes in denominations of 100, 200, 500, 1,000, 2,000, 5,000, 10,000, 15,000, 20,000, 30,000, 50,000, 100,000, and 200,000 riels. A 200,000-riel bank note has an exchange rate of about $49.
According to the central bank, inflation rose by a modest 1.26% in January (the most current month for which statistics were available), but Cambodian inflation averaged 4.35% between 1995 and 2026. Inflation was at its worst in May 2008 when it reached 35.57%. There were no currency reforms during this period.
The NBC continues to promote the nation’s domestic currency as a symbol of economic sovereignty and national identity. AI-generated Cambodian bank notes now appearing in commerce aren’t helping the situation.
Fake bank notes, counterfeit or fantasy, have “serious negative impacts” on the nation’s values, according to the central bank statement. The bank emphasized that the riel is more than just a means of payment.
The popularity of the dollar in Cambodia can be traced to the disruption of the domestic economy in 1978, when the country was attacked by Vietnam. The Cambodian national currency was re-established two years later; however, because there were no funds to replace domestic currency as it wore out, people began using U.S. dollars received from the United Nations as part of a humanitarian aid effort. Due to the ensuing inflation, the dollar has continued to be considered more stable than the riel.
Recently posted Facebook pages that closely resemble the official NBC page show manipulated images of Cambodian Senate President Hun Sen and Prime Minister Hun Manet, suggesting the central bank is preparing to print new notes for circulation.
Facebook accounts posted in the names of social influencers Konkhmer Konndal and Kim Dabin have been blamed for fabricating AI-generated fantasy 10,000-riel notes. Both websites have been referred to the appropriate authorities. When viewing both websites in preparation for this article, AI-generated 100,000-bank notes appeared on Kim’s website but not on Konndal’s. Konndal’s website did post an image of an older Cambodian coin that appeared to be genuine.
Dabin, who works in South Korea, responded by releasing a video in which she explains she is not the person responsible for the bogus notes. According to Kim, “I saw the fake 10,000-riels bank note on social media, posted by a page that looked similar to the NBC official page with the blue checkmark.”
Kim has claimed she has no intention of causing confusion to the public or showing disrespect to Cambodian leaders. She also expressed concern over identifying the authentic NBC official page despite the presence of blue verification checkmarks.
Article 53 of the Law on the Organization and Conduct of the National Bank of Cambodia forbids damaging or altering bank notes. Article 65 of the same law states that anyone counterfeiting coins or bank notes that are legal tender in Cambodia or in any other country can receive a 20-year to life sentence in prison.
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