Fake money still in circulation says FCU

| 25/06/2009

(CNS): Counterfeit money continues to plague Cayman and Police from the Financial Crimes Unit are warning the public to be vigilant over cash exchanges as they continue to received reports of fake notes being in circulation.  “Most recently we have seen an increase in fake 100 dollar bills being used, however emphasis should be place on all denominations” said Detective Constable Adrian Neblett from FCU. “We have seen a steady increase in both CI notes and US counterfeit notes, so people should be on the constant look out.”

The RCIPS is asking anyone who receives a counterfeit note to observe the appearance of the person passing the note, as well as that of any companions. DC Neblett also advises that the note should be tagged with a copy of the transaction receipt and bagged separately from other notes. “This will help with our investigations,” he explained. The RCIPS form which should be used for reporting counterfeit money can be found on the CIMA website at www.cimoney.com.ky, under “Currency.”

CIMA said all genuine Cayman Islands currency 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. However it’s important to note that some counterfeit notes also have the watermark so you should not rely solely on this feature to determine if the bill is genuine.

The Authority noted that 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 and when receiving notes residents are advised to examine the serial number for any signs of tampering.

Genuine notes are printed on special paper that has a rough texture but counterfeit cash has a smooth texture and will smudge when exposed to water.

Anyone with information about crime taking place in the Cayman Islands should contact their local police station, Financial Crime Unit (949-8797) or Crime Stoppers on 800-8477 (TIPS). All persons calling Crime Stoppers remain anonymous, and are eligible for a reward of up to $1000, should their information lead to an arrest or recovery of property/drugs.

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