Police warn of counterfeit money

As counterfeit money continues to surface here, the Cayman Islands Monetary Authority and the Royal Cayman Islands Police Service are urging the public to remain vigilant during the holidays.

Over the last few weeks, counterfeit notes in both US and CI currency have been in circulation.

“Please do not let down your guard against counterfeit notes as we are continually finding them in circulation,” said RCIPS Sergeant Michael Montaque. “I’m particularly asking the business community to pay close attention to the notes they are receiving. RCIPS asks that all members of the public observe the following pointers:

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. If you receive a note that you are not sure of, compare it to one that you know is genuine.

If you have a note which you believe is counterfeit, you must take it to the police at once as it is a criminal offence for you to hold or pass on a note that you know to be counterfeit. In addition, CIMA advises the public that it is not able to compensate those who come into possession of counterfeit notes.

The RCIPS form for reporting counterfeit money can be found on the CIMA website www.cimoney.com.ky, under “Currency.”

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