Fake $25 and $100 bills in local circulation
(CNS): The RCIPS Financial Crimes Unit and the Cayman Islands Monetary Authority collected a number of counterfeit notes last week and they are warning the public to keep alert for the forged cash. The denominations are $25 and $100, all from the “D” series, and the notes seized so far have the same serial number D/1194318 and D/145117 respectively. The FCU is currently investigating the incidents and is requesting the cooperation of people who have received 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 said. “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 “D” series banknotes were officially 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. These features include a colour-shifting holographic stripe, see-through images, a turtle watermark and an iridescent band, officials explained.
CIMA said it cannot compensate people who come in possession of counterfeit notes, making it even more important for the public to be vigilant. Officials said that as we approach the Pirates Week and Christmas holidays, businesses need to even more alert as counterfeit activities tend to increase during these times.
The RCIPS form for reporting counterfeit money can be found on the CIMA website www.cima.ky under “Currency”.
For further information or to arrange a workshop for frontline staff contact CIMA’s Currency Division at 244 1694/244 1520 or the RCIPS Financial Crime Unit at 949-8797.
What is the difference between the fakes and “real” money anyway?
This is what happens when you invite rabble to come to your islands they undermine the very economy that is feeding them and their offspring keep going Cayman. soon their will be nothing left.
Aha ACC Shot Caller..so from that article you made the jump to foreign criminals with no proof what so ever. Either you are a genius or a rabid nutter, and I for one suspect the latter.
Stop with the nonsense. Our very own Caymanians have been tried and prosecuted by the courts for counterfeiting, don’t be so quick to pass judgment.
No, ACC, that is just what bigots think.
Why wouldn’t I give it back to the passer in exchange for one that is not counterfeit? I don’t want to be out $25 much less $100!
Then there is no evidence, i.e., proof of the crime. And they just try to scam it again on the next store.
What you want to say is, if you disagree with vendor’s having to pay this ‘tax’ in order to keep counterfeit money from becoming a real problem for them, that the Govt. sets up a ‘repay plan’ for people turning in counterfeit notes with information on who tried to spend it. (Kind of like a crime-stopper’s reward, to keep people from printing their own and turning it in for the reward.)
I think a visual comparison would have been useful as it is easier for many to remember facts visually. Otherwise one would probably have to have 2 notes in hand and refer to this news report to get a list of the relatively easy to the distinguish safety features.
That would mean someone would actually have to work.