Forged $50 and $100 bills recovered by police

| 09/08/2016 | 2 Comments

Cayman News Service(CNS): The RCIPS Financial Crimes Unit (FCU) has received a number of counterfeit KYD notes, which were collected last month. The $50 and $100 bills are all from the “D” series and the $50 banknotes all bear the same serial number. The police are currently investigating the incidents of passing counterfeit currency and they are advising the public to be on the lookout for the fake money. “If you receive a counterfeit note, or suspect one to be counterfeit, we ask that you observe the description of the person passing the note, as well as that of any companions that may accompany them,” the FCU stated.

“Do not return the note to the passer if possible. Instead, initial and date the white border of the note, then tag the note with a copy of the transaction receipt and call the police. If you have counterfeit report forms issued by the Financial Crimes Unit, obtain as much information as possible from the person passing the note and write it on the form,” the officers added.

The Cayman Islands Monetary Authority said that all of the banknotes were re-designed in 2010.

“Some of the aesthetic modifications in the new series and the other visible security features combine to make it relatively easy to tell the difference between Cayman Islands legal tender and counterfeit banknotes, if one looks closely,” CIMA stated. “These features include a colour-shifting holographic stripe, see-through images, a turtle watermark and an iridescent band.”

CIMA advised the public that it is not able to compensate people who come into possession of counterfeit notes, making it even more important for the public to be vigilant when handling currency notes.

The RCIPS form for reporting counterfeit money can be found on the CIMA website here.

Anyone who wants further information about how to identify counterfeit currency, or how to spot the real notes from the fake ones should contact the CIMA at 244-1694, 244-1520, or the RCIPS Financial Crimes Unit at 949-8797, to arrange a workshop for their frontline staff.

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Comments (2)

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  1. Anonymous says:

    The RCIPS have informed us that the serial numbers on the forged notes are all identical, but have not told us what that serial number is. Some description of how to identify this particular forgery might be useful for the general public, and the bogus notes’ serial number would be a good start.

  2. Anonymous says:

    OK, so get as much of this counterfeit cash as you possibly can from the crooks, tell the police and then understand that CIMA wont compensate you for your loss. Bound to work, that one. Iron logic.

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