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  • BoN conducting investigations into counterfeit banknotes

BoN conducting investigations into counterfeit banknotes

WebDesk
July 19, 2012July 28, 2012 No Comments

SWAKOPMUND: A total face value of N.dollars 12 100 of counterfeit notes, have been detected up to date country wide, since the new bank notes started circulation on 15 May 2012.

A total of 91 pieces of the notes have been imitated since circulation, however according to the Director of the Department of Strategic Communications and Financial Sector Development at the Bank of Namibia (BoN), Ndangi Katoma, BoN is not in the position to advice as to which banknote is predominant among the counterfeit notes at this stage.

“This is because such information might change the focus of the general public to their detriment in being vigilant to detect any counterfeits,” he indicated in an interview with NAMPA. Thus far cases of counterfeit bank notes for the new currency have been reported in Windhoek and Swakopmund with the coastal reporting the largest number. The denominations of the new bank notes reported and confiscated was 61 N.dollars 100 bank notes.

When NAMPA asked what other towns have also been encountering forged notes, Katoma clearly stated that it is inappropriate to provide such information due to the investigation which is currently underway and considering that such information might cause implication in that respect.

Katoma continued to emphasise that since the investigation of the counterfeit notes are at a very sensitive stage at this point in time. “The BoN will only be able to provide information as and when appropriate to inform the media and the public at large,” he added.

Furthermore, the BoN have been maintaining its awareness campaigns and in addition have been giving training to Law Enforcement Agencies and other stakeholders regarding the security features of bank notes and the detection of counterfeit bank notes.

In addition, the offer of N.dollars 50 000 introduced on 26 June 2012 to a member of the public who provide credible information that will lead to the arrest of the main culprit and equipment used to conduct this criminal activities, is still standing.

(edited)SWAKOPMUND; A total N.dollars 12 100 in counterfeit banknotes has been detected countrywide since the new banknotes were issued into circulation on 15 May 2012. Thus far, counterfeit banknotes have been detected and confiscated in Windhoek and Swakopmund, with the largest number of fake notes confiscated at this coastal town.

The Namibian Police Force (NamPol) confiscated N.dollars 11 900, of which at least 60 notes were counterfeit new N.dollars 100 notes, at Swakopmund last week. The Bank of Namibia (BoN)’s Director of Strategic Communications and Financial Sector Development, Ndangi Katoma said upon enquiry on Thursday that the bank is not in a position to reveal which banknote is most reproduced at this stage.
“This is because such information might change the focus of the general public to their detriment in being vigilant to detect any counterfeits,” he noted.

Katoma could also not say which other towns had seen forged notes so far, and stated that it is inappropriate to provide such information because of investigations currently underway. “The BoN will only be able to provide information as and when appropriate to inform the media and the public at large,” he added.

The bank has in the mean time been continuing its awareness campaigns on the new banknotes and its security features, and has in addition been providing training to law-enforcement agencies and other stakeholders regarding the security features and the detection of counterfeit banknotes. A reward of N.dollars 50 000 introduced last month for credible information that will lead to the arrest of the main culprit and equipment used to produce the counterfeit money, is still standing.

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