Counterfeit Currency Increase, Police

Counterfeit Currency Increase, Police

Battling the rise of counterfeit fiat currency in the country, the police have advised the general public to remain vigilant regarding its usage, and storage. The department is seeing a rise in the fake currency that is being distributed in the country, especially in the $20 and $50 denominations. Commenting further on the issue, the Financial Crime Investigation Branch of the Royal Bahamas Police Force has said that the currency can be given to the merchants, or any individuals to make it mainstream.

The police advised the merchants to take utmost caution while transacting in the evening or at night in the parking lots.

Counterfeit Currency Increase, police

“You are suggested to check the currency before the purchase can be made” the police advised further. In case of counterfeit currency or suspicions, the general public is instructed to get the vehicle number or check the ID card. In addition to that, the police asked the public to check the texture of the notes, the color, and the size, which are hard to manipulate.

Furthermore, anybody found with counterfeit currency will attract legal prosecution and will be charged with the relevant sections of the law. In this regard, the public is requested to give the counterfeit currency to the police as soon as possible.

“If a person is convicted, they can face a prison time up to five years,” the police said.

“It’s advised not to keep this money”

These developments as the reports of the counterfeit currency being circulated in the country especially in the parking lots. The police said that the currency can be distributed to individuals or merchants. So, in this case, the general public has been suggested to take the proper measures to substantiate the credibility of a denomination. This currency can be exchanged in exchange for services as well as goods.

Commenting further, police said that the general public must use counterfeit tools to ascertain whether a note is real or fake. In the case of counterfeit currency, the public is supposed to inform the police and hand over the money, failing which can attract a legal penalty. In case of any suspicion that may arise, you can note down the vehicle number, or any kind of information that can be crucial in tracking them down.

“We don’t suggest that you keep the money. If you’re convicted, you can face a jail term” he further said. In this regard, the central bank has issued a notice to warn the citizens of the current, and how to check the credibility of a note. On the authenticity of the currency, and to avoid falling into the trap of counterfeit currency, the general public can visit the official website of the bank to understand the difference between fake and real currency. In addition to that, it’s advised to take some time to feel the texture or any difference in the note, and in case of suspicion, you may refuse the currency.

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