Police warn of increase in counterfeit currency

POLICE have seen an increase in counterfeit Bahamian currency being distributed in communities, the most common being $20 and $50 notes.

The Financial Crime Investigation Branch of the Royal Bahamas Police Force said the notes may be given to unsuspecting merchants or individuals in exchange for goods and services.

Merchants are advised to use counterfeit money detectors and to avoid conducting transactions in the evening or at night, especially in parking lots.

“You are advised to check the money out properly before turning over any items,” police urged. “If you are suspicious, try to obtain the vehicle information (car model, plate number) or ask the person to see a government issued ID. Individuals and merchants alike, can also feel the texture of the notes, pay attention to the colour and size of the notes, as these features are not easily manipulated.”

Police said anyone found in possession of counterfeit money will be investigated and possibly charged. People are asked to turn in all suspected counterfeit currency to the police as soon as possible.

“We do not advise you to keep this money for any reason. Please note that upon being convicted, a person can be sentenced to prison term of up to five years,” police said.

For additional information on authentic currency notes features, please visit the Central Bank of the Bahamas’ website at www. centralbankbahamas.com.


Use the comment form below to begin a discussion about this content.

Sign in to comment