Police have neutralised a counterfeit banknote manufacturing and distribution syndicate following the arrest of 17 people and the seizure of more than 500 suspected fake $100 banknotes yesterday.

After extensive investigations, officers mounted an operation to tackle the triad-affiliated syndicate.

At about 10pm yesterday, officers raided 32 locations in various districts including To Kwa Wan, Yau Ma Tei, Wang Tau Hom and Sha Tin, resulting in the arrest of 13 men and four women aged 18 to 50.

About 530 pieces of inkjet $100 counterfeit banknotes, 52 pieces of A4-size paper each with three uncut inkjet $100 banknotes and some paraphernalia including a scanner and photocopier were seized during the operation.

The 17 were arrested for offences including possession of equipment for making counterfeit banknotes, possession of counterfeit banknotes, passing of counterfeit banknotes and possession of forged identity cards. They are being detained for enquiries.