Counterfeit Money Being Distributed in Bali
Residents are asked to be on the look out for counterfeit money being distributed in the tourist areas of Bali. During April- June 2013, counterfeit bank notes reached 1,216 pieces, up from the Previous term which was only 925 bank notes.
“Both the quality and quantity of fake money in the tourist areas has increased in the past three months compared to the previous period,” said a representative of the Chairman of the Bank of Indonesia’s Office in Bali- Nusa Tenggara, Dwi Pranoto in Denpasar.
The increasing circulation of counterfeit currency in these tourist areas is based on the findings of the Bank of Indonesia and from reports by other finance agencies. However, the total amount of counterfeit money is not mentioned in the report.
The report stated that the notes copied the most were Rp100,000 notes amounting 92.52 percent from the total counterfeit money recovered, followed by Rp50,000 notes making up 6.7 percent and Rp 20,000 and Rp 5,000 accounting for the rest.
The Bank of Indonesia tries to control the distribution of counterfeit money in these areas by continuously educating the local communities about the characteristics of genuine Rupiah notes.
The Bank of Indonesia representative stated that, the institution is monitoring closely and removing from circulation any money that has already been identified as fake.
“We also have established a task force to help eliminate this activity,” he said. Money counterfeiting and distribution is an international crime. There are serious consequences that result from such activity. Data is being collected and distributed by the Bank of Indonesia to help support the National Police’s efforts to identify, and arrest the distributors and manufactures of counterfeit notes appearing in Bali.Filed under: Headlines