THE Financial Crimes Investigations Branch has recently seen an increase in counterfeit currency reports, particularly on Harbour Island.
The branch’s director, Chief Superintendent Matthew Edgecombe said a number of Bahamian $50 and $20 notes were recently seized on that island, however, no arrests have been made.
“In our investigations, we take note that fraudsters use various techniques to generate counterfeit notes, and they are creative in finding ways to pass them off on unsuspecting victims or business establishments,” CSP Edgecombe said. “We want to remind the general public that it is an offence to be in possession of counterfeit currency which can result in a prison term for up to five years.
“If you become aware of the whereabouts of any counterfeit currency, please contact the nearest police station to have the same turned over. We also encourage persons to invest in counterfeit detection devices to assist them in identifying these fraudulent bank notes to prevent losses to them or their businesses.”