Be aware of fake banknotes - Solomon Star News

Be aware of fake banknotes

10 August 2017
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There is a notable increase of fake or counterfeit banknotes currently circulating within the country.

The Central Bank of Solomon Islands (CBSI) has warned on Wednesday.

In a statement, bank has once again advised the public to take heed of the illegal activity.

CBSI advices the public to be mindful of these latest counterfeits.

There the public must always take note of the following reminders:

  •  When dealing with higher denomination banknotes, particularly the $100 banknote, the public must always practice the habit of checking for any banknote security features before accepting. CBSI advises in particular the late night vendors, all shopkeepers and to everyone else when doing over-the-counter transactions or receiving payments from groups and/or individuals to must consider this process persistently.

  • If you believe that you may have in your possession a fake banknote, then you  must immediately report and surrender the counterfeit note directly to either the Royal Solomon Islands Police Force (RSIPF), the Commercial banks or to CBSI, whichever is nearest to you;

The bank said, anyone who has information on a person or groups suspected of printing and issuing counterfeit banknotes to must report the information immediately to the RSIPF or the Central Bank.

“CBSI requires that all citizens must take some time to study genuine banknotes and to familiarize themselves with the new security features in our banknotes.

“If you fail to do this, you may lose your money and CBSI will not replace the fake note with genuine banknotes.”

Counterfeiting is a crime in the country and the penalty for printing and distributing counterfeit banknotes constitutes a fine of $50,000 or 7 years of imprisonment.

More information on the security features is obtainable from the Central Bank office.

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