Man arrested carrying $1000s in counterfeit cash

(CNS): A 52-year-old man from Bodden Town is in police custody accused of possessing several thousand dollars worth of forged Cayman Islands $100 bills. The man was arrested Sunday after a report that he had used counterfeit banknotes at a bar on Bodden Town Road and obtained property by deception. After the man was arrested, the police officers searched him and found the rest of the fake cash he had with him. He remains in custody under investigation.

The Financial Crime Investigation Unit (FCIU) is advising people to be on the lookout for more counterfeit money as they believe more fake Cayman Islands hundred dollar bills are circulating, all bearing the serial number 292395.

The FCIU said anyone who receives a counterfeit banknote or suspects one to be counterfeit should make a note of the description of the person passing the note and any companions with them. They said the bill should not be returned to the person who handed it over but if possible initial and date the white border of the note, then tag it with a copy of the transaction receipt and call the police.

Banks and commercial premises are asked to use the Forged Currency Report Form issued by the FCIU and to include as much information as possible about the person passing the note.