Cayman’s Monetary Authority is warning the public to be on the lookout for fake KYD notes currently in circulation.
In a statement Friday, CIMA said the Royal Cayman Islands Police Service advised that they have received forged KYD notes, which were collected during the period 19-25 March.
The forged $25 banknote bears the serial number D/2 796153, the $50 D/2 605432 and the $100 D/1 588475.
The Financial Crimes Investigation Unit is currently looking into the incidents and is advising the public to be on the lookout for such forged notes.
“The banknotes in question all come from the “D” series which were re-designed in 2010. Some of the visible security features that make it relatively easy to tell the difference between Cayman Islands legal tender and forged banknotes include a colour-shifting holographic stripe, see-through images, a turtle watermark and an iridescent band,” the CIMA statement said.
FCIU Detective Dean Murray advised against returning notes if someone suspects it to be forged.
“If you have, or suspect that you may have, received a forged note, 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. Instead, initial and date the white border of the note, then tag the note with a copy of the transaction receipt and call the FCIU at 949-8797 or any of our police stations during out of office hours,” he said in the statement.
He added that, if forgery report forms (issued by the Financial Crimes Investigations Unit) are handy, you should obtain as much information as possible from the person passing the note and write it on the form.
CIMA, in its statement explained it is able to compensate persons who are given forged notes.
“This makes it even more important for the public to be vigilant when handling currency notes,” the statement said.
Back in 2019, police warned of fake US$100 bills and other smaller denominations being circulated in the community.
Meanwhile, police are also advising the public to look out for a new phishing email scam purporting to be from Butterfield Bank.
The Phishing email, according to police, is titled – [IMPORTANT – Butterfields Final Warning.] Within the email it says, ‘CLICK HERE NOW to completely review this profile’
“If you receive the email, please do not click on the link, but immediately delete the email instead,” the police statement said.
Tips you can use to spot phishing emails include: hovering your cursor over the link, checking the sender’s email address carefully, and looking out for emails which purport to have a sense of urgency or include threats.
Tips to spot phishing emails include:
- Hovering your cursor over the link,
- Checking the sender’s email address carefully
- Looking out for emails which purport to have a sense of urgency or include threats.
Phishing emails are often referred to as fake, scam and suspicious and their purpose is to compromise an organisation’s computer systems and network, to gain unauthorised access.
The phishing emails will often include a fake website link or malicious file attachment – you should never click on either of these.
If you believe you have been compromised by a phishing email, contact the FCIU at 949-8797 or at [email protected].
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