Police have arrested 11 people since April 10 for depositing counterfeit bank notes.

The arrests followed a local bank report on April 9 that counterfeit $500 notes were found in four of its Instant Deposit Machines. More than 400 counterfeit notes were seized.

Ten raids were then conducted across Hong Kong, resulting in the 11 arrests - nine men and two women, aged 15 to 25.

Among them, two men and a woman, aged 18 to 23, were released on bail ranging from $2,000 to $5,000. They are required to report back to Police on April 19 and 22. The remainder are being held for inquiries.