Fake $10 notes are passed

Police have recovered evidence that lesser-value Cayman Islands bills are being counterfeited and passed on to businesses as legal tender.

In the past, $100, $50 and $25 notes have been faked. Now, the Royal Cayman Islands Police Service Financial Crimes Unit notes that much more convincing fake $10 notes are beginning to appear in circulation.

“The $10 notes we’re now seeing are of a much better quality than those we’ve previously recovered,” said RCIPS Detective Constable Adrian Neblett.

“In fact, the quality is so good that, to the naked eye, they look real. The metallic strip in these newer notes is much shinier than we’ve seen in previous forgeries.”

Since the beginning of 2011, police have recovered a small number of $10 and $100 notes, as well as US$50 and US$100 notes.

“We’re urging the business community and members of the public to spend a few extra seconds checking all notes – in particular the presence of the watermark – that come into their possession,” Mr. Neblett said.

The Caymanian Compass has learned of at least one instance where several bogus $10 notes were passed at a Bodden Town bar this week.

According to the owner, police were called in Wednesday night after a staff member received three counterfeit $10 bills from a patron.

The owner told the Compass that the bills were printed on a silky type of paper and didn’t have the hidden drawing of the turtle on them when held up to the light.

“It is very noticeable, if you look carefully, one can spot the difference, but I did not know that counterfeit $10 notes were in circulation,” said Buddy Wood, the bar’s owner.

“Just the night before, I discussed with the barmaids what they should do if they suspected someone at the bar was passing out [counterfeit] notes and that was to call the police.”

The Cayman Islands Monetary Authority will not compensate individuals who are in possession of bogus bills, even if they had no idea the note was fake, police said.

“Those extra few seconds spent checking the cash could prevent you losing out financially,” Mr. Neblett said.

If you believe you may have received a counterfeit note, the Financial Crime Unit advises the following:

  • Observe the description of the person passing the note and anyone else with them
  • Do not return the note to the passer, if possible. Rather, initial and date the white border of the note and then tag the note with a copy of the transaction receipt and call police.
  • Obtain as much information as possible from the person passing the note and write it on the form

The police form for reporting counterfeit money can be found on the Cayman Islands Monetary Authority’s website, www.cimoney.com.ky under the ‘currency’ section.

4 COMMENTS

  1. Fake notes? Well Organized Crime is here!

    Are you going to fight these types of high crimes with batons and toy guns or are you going to restructure the RCIP to deal with this?

    This is a situation where Little Bopeep lost her sheep and dont know where to find them. The RCIP together with the Governor and Premier must think seriously how to protect the Cayman Islands borders from these types of crime.Who is printing this money? no one has reported this. Merely finding the notes is not good enough police work Getting to the source is the ultimate goal to stop crime.

  2. Based on the number of times the disagreement button is Hit when a positive comment is made to better the country; CONVINCES ME THAT THIS IS A VERY CORRUPT SOCIETY with a lot of corrupt people that do not mean the country of the Cayman Islands any good whatsoever!

    I think it would do us all justice if the Compass like Cayman News Service would REMOVE the Agree and Disagree Buttons, it is not doing our society any good at all. Most times it sends a very bad message to well meaning people inside the country and outside.

    There is no need to vote on a comment that is positive, morally clear, and for the good of all!
    So just revamp your style of receiving comments in this forum and allow people to keep an open mind by not sending our young people a negative message because of perverted individuals hitting the button numerous times campaigning against what is right, and embracing that which is WRONG. Compass you should do better.

  3. The reader states: ‘Just revamp your style of receiving comments in this forum and allow people to keep an open mind by not sending our young people a negative message.’

    The reason we have the agree-disagree buttons on the website is just that – to allow open minds and open debate on as many subjects as possible. Many website visitors who do not wish to write an actual comment still wish to contribute to the debate in some way. The agree-disagree buttons allow them to do it. Should we take away this method of allowing individuals to express their views? Is that being open minded? Isnt being open-minded allowing people to decide for themselves what is right and wrong?

    Again, we should point out that http://www.caycompass.com is not responsible for whether a story is perceived by the reader to be negative or positive. We are not a public relations firm.

    At the same time, we do appreciate any readers’ advice on our website that seeks to improve it or make it more user-friendly. We simply disagree with Liverpool in this case.

  4. I agree 100% with Liverpool.
    Liverpool maybe politically incorrect but MORALLY CORRECT! and thats what matters. Way too much poison has been deposited into the fragile minds emotions and spirits of our young people by adults that are twisted, corrupt and confused. There are checks and balances in every institution the news media or its forums are not exempt and Liverpool is to be commended for making such a request.

    Are we going to come out of the rut of a corrupt society by debating that wrong is right and that right is wrong? Are we going to live defeated by representing SYMBOLS? Where is the SUBSTANCE?

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