More counterfeit cash found

Over the past
few weeks, Royal Cayman Islands Police have recovered a small amount of counterfeit
Cayman Island
and United States
currency.

The
denominations of the notes recovered were CI$25, CI$100 and US$100.

“Please do not
let down your guard to counterfeit notes as we are continually finding them in
circulation,” RCIPS Sergeant Michael Montaque said. “I’m particularly asking
the business community to pay close attention to the notes they are receiving.

“In the event that
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. Do not return the note to the passer. Instead, tag the note
with a copy of the transaction receipt and call the police.

“Sometimes people
who are unsure as to whether a note is counterfeit or not will tend to go ahead
and deposit the note with the bank,” Sergeant Montaque said. “Unfortunately,
once a bad note has been mixed with other notes, it loses its evidential
quality. We therefore ask that any suspect notes be tagged with the transaction
receipt, placed in a protective covering such as an envelope and set aside for
verification by the Financial Crime Unit.”

“It is
important that people get to know the little details of our Cayman currency
notes and take a good look at the notes whenever they receive them,” said
Deborah Ebanks of the Cayman Islands Monetary Authority. “That is the best
thing you can do to prevent yourself from becoming a victim of fraudulent currency.”

Police
provided the following information to assist in determining if a CI note is genuine
or not:

*All
genuine CI notes bear a watermark in the form of a turtle, which can be seen
when the note is held up to the light. The watermark on the C series (newer)
notes also includes the letters ‘CIMA’ above the turtle. Some counterfeit notes have the watermark so
you should not rely only on this feature to determine if the bill is genuine.

*Each
C series bank note has a metallic thread running through the note from top to
bottom. The thread is imprinted with the words ‘Cayman Islands.’
In counterfeit notes the thread, if it appears, usually looks transparent or
white instead of metallic and sometimes has a grey shadow alongside it.

*Each CI$50 C
series note has a silver foil imprint of a stingray on the edge of the note, to
the right of the portrait of Her Majesty the Queen. On counterfeit notes, the imprint
usually loses the silver colour and appears a flat grey.

*Genuine CI
$100 notes carry a shimmering, silver-coloured mark called a hologram in the
shape of a Cayman schooner. This mark changes colour when the note is tilted.
On most counterfeit notes, this feature appears a flat bluish-grey.

*The serial
number on each banknote is different. When receiving notes, you should
therefore examine the serial number for any signs of tampering.

*You should
also pay attention to the feel of the paper on which notes are printed. Genuine
notes are printed on special paper that has a rough texture. Counterfeit notes
have a smooth texture and will smudge when exposed to water.

*Pay attention
to notes of all denominations – from one-dollar bills upwards.