Hamas breaks up counterfeiting ring

Gaza's Hamas authorities say they have broken up a counterfeiting ring that had printed millions of dollars worth of fake money.

Police spokesman Ayyoub Abu Shaar said Sunday that authorities uncovered the ring last week when they traced a man trying to distribute a counterfeit 100 shekel bill last week. The Palestinian territories use Israeli currency for many transactions. The man led authorities to a gang and some 20 million shekels, or roughly $5.5 million, in fake bills. Abu Shaar says the money was confiscated before it was put into circulation. (AP)