Police are advising the public to be vigilant when exchanging money after forged CI$100 and $1 notes were handed over to the Financial Crime Investigation Unit.
Following two different reports, the fake notes were turned over to police by two separate financial institutions, a police statement Friday said.
The serial number on the forged $100 bill matched that of a previous note that was handed in to the police back in March. The banknotes in question, a Cayman Islands Monetary Authority statement at the time said, 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 advisory had said.
Police said its financial crime investigators are asking to public to pay close attention to the security features on local notes.
“Some ways that the public may be able to identify genuine notes are to compare the feel of the notes you receive with ones that they already have and to look for the unique details on KYD genuine bank notes such as the security thread, watermarks and serial numbers,” the police statement added.
Police are asking the public not to spend any notes they may suspect to be forged, but instead report the matter to the police by calling the Financial Crime Investigation Unit at 949-8797.
“The RCIPS is reminding the public that knowingly uttering a forged note is an offense in the Cayman Island, which on conviction, carries a sentence of imprisonment for 7 years,” it added.