Bank of Namibia warns against fake notes
SWAPO PARTY WEB-SITE
By Asser Ntinda
SWAPO PARTY WEB-SITE
By Asser Ntinda
The Bank of Namibia, BoN, has warned the public to be extra alert against N$20 and N$50 counterfeit banknotes currently in circulation, imitating the newly designed banknotes which were released last week.
BoN Governor, Iipumbu Shiimi, said on Saturday that people must be extra vigilant in examining and making the difference between the fake banknotes and the real banknotes, saying that the security features in the new legal banknotes are easy to detect as they are absent in the fake ones.
Fake banknotes also went in circulation as the new ones last week. This made it difficult for some people to detect the fake ones because few people, if any, expected the new banknotes to be faked so early.
"The new series of banknotes issued on May 15, 2012, contain the latest security features necessary to protect our banknotes from being forged," said Shiimi. "This is why the detected counterfeit notes could hardly compare with the real notes."
He, however, added that despite those latest security features, it was important that the people familiarized themselves with those security features to detect fake ones from the real notes and avoid being cheated. "The easiest way to detect a counterfeit banknote from a genuine bank is to always look, feel and inspect the banknote," he said. "There is a combination of eight security features on the banknotes, but for now, three security features will help people detect fake notes."
One such feature is a watermark depicting a portrait Founding President, Dr Sam Nujoma on the N$10 and N$20 notes, or that of Captein Hendrick Witbooi on the N$50, N$100 and N$200 banknotes. A person sees such a feature when the note is held up against the light, matching the main portrait.
Another feature is the colourshifting security thread. Once you hold the banknote, on the front side, the thread should form a solid line and on the back side, dotted line with colour changing and the word "BoN" should appear.
"Also feel the banknote by identifying the raised ink on the Braille dot (s), the value of the note and the 'word' "Bank of Namibia" on the note also appear," said Shiimi.
"Incidences of counterfeit banknotes are a global phenomenon, but in Namibia this is very low and there is no need for serious concern. Nevertheless, members of the public are encouraged to approach the nearest police station or the Bank of Namibia to report any case of counterfeited currency." Shiimi said that several fake banknotes had already been confiscated. Some suspects have been arrested, and police investigation continues.
BoN Governor, Iipumbu Shiimi, said on Saturday that people must be extra vigilant in examining and making the difference between the fake banknotes and the real banknotes, saying that the security features in the new legal banknotes are easy to detect as they are absent in the fake ones.
Fake banknotes also went in circulation as the new ones last week. This made it difficult for some people to detect the fake ones because few people, if any, expected the new banknotes to be faked so early.
"The new series of banknotes issued on May 15, 2012, contain the latest security features necessary to protect our banknotes from being forged," said Shiimi. "This is why the detected counterfeit notes could hardly compare with the real notes."
He, however, added that despite those latest security features, it was important that the people familiarized themselves with those security features to detect fake ones from the real notes and avoid being cheated. "The easiest way to detect a counterfeit banknote from a genuine bank is to always look, feel and inspect the banknote," he said. "There is a combination of eight security features on the banknotes, but for now, three security features will help people detect fake notes."
One such feature is a watermark depicting a portrait Founding President, Dr Sam Nujoma on the N$10 and N$20 notes, or that of Captein Hendrick Witbooi on the N$50, N$100 and N$200 banknotes. A person sees such a feature when the note is held up against the light, matching the main portrait.
Another feature is the colourshifting security thread. Once you hold the banknote, on the front side, the thread should form a solid line and on the back side, dotted line with colour changing and the word "BoN" should appear.
"Also feel the banknote by identifying the raised ink on the Braille dot (s), the value of the note and the 'word' "Bank of Namibia" on the note also appear," said Shiimi.
"Incidences of counterfeit banknotes are a global phenomenon, but in Namibia this is very low and there is no need for serious concern. Nevertheless, members of the public are encouraged to approach the nearest police station or the Bank of Namibia to report any case of counterfeited currency." Shiimi said that several fake banknotes had already been confiscated. Some suspects have been arrested, and police investigation continues.