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‘Look out’ for fake money


‘Look out’ for fake money

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THE CENTRAL BANK OF BARBADOS is warning businesses to be aware of counterfeit currencies in the lead-up to Christmas.

Deputy director responsible for currency at the Central Bank of Barbados, Octavia Gibson said: “The easiest way for you to be fooled by a counterfeiter is for you not to check your money.”

She noted that local banknotes have many security features that can be used to authenticate them easily and quickly.

“But you need to use them. Hold up the note and look for the ghost image of the portrait to the left of the note, look for the note’s denomination below the ghost image and look for the solid security line down the middle of the note,” Gibson added.

She said that while counterfeiters can try to pass fake notes at any time, there were certain situations where people should be especially vigilant.

“It’s in precisely those moments when you think it’s inconvenient to check, when there are long lines, when it’s almost closing time that they often make an attempt. The counterfeiter might be the customer rushing you because he’s in a hurry or the one buying a small item and presenting a large bill. Don’t fall for it. Check anyway.”

Gibson confirmed that the overall level of counterfeiting on the island is low but noted that on a person-to-person basis, any loss would be felt.

Barbadians have been urged to be alert when executing cash transactions and the Central Bank is making information on the security features of local currency available to businesses and the general public free of charge. (PR)