Question 1

What is the "Money Changing Sleight of Hand" scam in Yangon?

Accepted Answer

Street money changers use sleight of hand when counting out kyat notes, causing tourists to receive roughly half the currency they are owed. The trick is done quickly and confidently, and victims often do not notice until later. Only exchange money at banks, official exchange counters, or hotel front desks. Never change money on the street, even if the rate looks better. Count every note carefully before walking away from any exchange.

Question 2

What is the "Gem and Jade Investment Scam" scam in Yangon?

Accepted Answer

Well-dressed local contacts, sometimes introduced through a seemingly chance encounter at a café or hotel lobby near Bogyoke Aung San Market, build a brief rapport with tourists and then invite them to a gem dealer friend's shop for a "once in a lifetime" opportunity to purchase rubies, jade, or sapphires at below-market prices for profitable resale back home. The stones are invariably low-grade, synthetic, or outright fakes, and certificates of authenticity provided are forged. Victims have lost hundreds to several thousand US dollars. Never purchase gemstones for investment purposes from any source encountered through a casual street or hotel introduction. If you want to buy gems as souvenirs, use only shops licensed by the Myanmar Gems Enterprise visible in Bogyoke Aung San Market's main hall, and accept that resale value will always be lower than purchase price. Have any stones appraised independently before paying.

Question 3

What is the "Counterfeit Kyat Notes" scam in Yangon?

Accepted Answer

Vendors and money changers occasionally pass fake 1,000 or 5,000 kyat notes as change. The counterfeits are often convincing enough to fool tourists unfamiliar with genuine Myanmar currency. Familiarize yourself with genuine kyat notes before arriving — check the security features online. Examine change carefully at markets and small shops. Using larger denomination notes and asking for change in a well-lit area helps.

Money & ATM Scams in Yangon

Money Changing Sleight of Hand

Gem and Jade Investment Scam

Counterfeit Kyat Notes

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