Coen Welsh | Nov 14, 2017 | 0
Counterfeit notes in circulation
The Bank of Namibia this week warned the public against counterfeit N$100 banknotes in circulation. The N$100 counterfeited banknotes in circulation were detected over the festive season and the matter is currently under investigation. The incidences of counterfeit banknotes are a global phenomenon, but is very low in Namibia. Presently, the rate of counterfeit against million pieces of currency in circulation is about 3:1million in Namibia. This means that for every million pieces of currency, only 3 counterfeits are encountered.
The Bank of Namibia remains the sole authority for issuing and verification of authentic Namibian currency. Other institutions and members of the public are therefore encouraged to approach the Bank of Namibia in Windhoek and at the Oshakati branch to verify any facts pertaining to the Namibia Dollar banknotes. Members of the public are also encouraged to approach the nearest police station to report any case of counterfeited currency. This is important because possession and or reproduction of counterfeit Namibia Dollar are illegal and punishable by law.
The easiest way to distinguish a counterfeit banknote from a genuine banknote is to always look, inspect and feel the banknote while paying attention to specific security features on the banknote. The Bank of Namibia further commends the members of the public and the Namibian Police for their continuing prompt response in combatting the crime of counterfeiting the Namibian currency.