The police’s Financial Crime Unit is warning the public to be on the lookout for counterfeit CI$25 and CI$100 bills.
The Financial Crime Unit obtained counterfeit notes in those denominations stemming from incidents between Sept. 26 and Sept. 29. All of the bills came from the “D” series, and all bear the same serial numbers, D/119-4318 and D/145117 respectively.
“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. Do not return the note to the passer if possible,” said the Financial Crime Unit in a press release. “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 Crime 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 redesigned in 2010.
The new series of bills feature a color-shifting holographic stripe, see-through images, a turtle watermark and an iridescent band, which make them distinguishable from counterfeit notes.
The Monetary Authority advises the public that it is not able to compensate persons who come in possession of counterfeit notes.
“As we approach the Pirates Week and Christmas holidays, the Authority also reminds persons to be more alert as counterfeit activities tend to increase during these times,” CIMA stated in the press release.
The Royal Cayman Islands Police Service form for reporting counterfeit money can be found on the CIMA website www.cima.ky, under ‘Currency.’ For further information about how to identify counterfeit currency, contact CIMA’s Currency Division at 244-1694 or 244-1520. CIMA’s Currency Division or the RCIPS Financial Crime Unit at 949-8797 can also arrange workshops for frontline staff.