Following the recent discovery of counterfeit CI$100 and CI$50 in circulation, the Cayman Islands Monetary Authority and the Royal Cayman Islands Police Service are reminding the public of the following features of genuine Cayman Islands currency and how to distinguish them from counterfeit notes.
• All CI notes bear a serial number preceded by the letters ‘A,’ ‘B’ or ‘C.’ The A and B series of notes were issued by the former Cayman Islands Currency Board, and carry that name across the top of each note. Notes in the C series were issued by the Cayman Islands Monetary Authority and carry that name across the top.
• All genuine CI notes bear a watermark in the form of a turtle, which can be seen when the note is held up to the light. The watermark on the C series notes also includes the letters ‘CIMA’ above the turtle. Be aware, however, that some counterfeit notes have the watermark do not rely only on this feature to determine if the bill is genuine.
• Each C series banknote has a metallic thread running through the note from top to bottom. The thread is imprinted with the words ‘Cayman Islands.’ In counterfeit notes the thread, if it appears, usually looks transparent or white instead of metallic, and sometimes has a grey shadow alongside it.
• Each $50 C series note has a silver foil imprint of a stingray on the edge of the note, to the right of the portrait of Her Majesty the Queen. On counterfeit notes, the imprint usually loses the silver colour and appears a flat grey.
• Genuine $100 notes carry a shimmery, silver-coloured mark (called a hologram) in the shape of a Cayman schooner. This mark changes colour when the note is tilted. On most counterfeit notes, this feature appears a flat bluish-grey.
• The serial number on each banknote is different. When receiving notes, people should therefore examine the serial number for any signs of tampering.
• People should also 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.
The Monetary Authority advises the public that it is not able to compensate persons who come in possession of counterfeit notes. This makes it even more important for the public to be vigilant when handling currency notes.
If you suspect you have received a counterfeit note, the RCIPS advises the following:
• Do not return it to the passer.
• Delay the passer if possible.
• Observe the passer’s description, as well as that of any companions, and the licence numbers of any vehicles used.
• Contact the Financial Crime Unit of the Royal Cayman Islands Police, or 911, Crime Stoppers or the nearest police station. These numbers can be found on the inside front page of the telephone directory.
• Write your initials and the date in the white border areas of the suspect note.
• Limit handling of the note. Carefully place it in a protective covering, such as an envelope.
• Surrender the note only to a properly identified police officer.
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