KUALA LUMPUR, SEP 5: Counterfeit Malaysian banknotes detected were usually of low quality and were mostly printed on normal paper using regular colour-printers and copier machines.
Bank Negara Malaysia (BNM) in a statement on Monday said that counterfeit money can be differentiated from genuine banknotes through a simple touch and sight method.
“The public can easily distinguish these fake notes. Contrary to what media has reported, BNM and the police have not detected any high-quality counterfeit notes, printed on papers having the same features and quality of a genuine banknote and using sophisticated printing techniques,” said BNM.
BNM also reiterated that counterfeit banknotes incidence is still low with isolated cases.
“Any claim that counterfeit money is rampant will cause unnecessary alarm to the public and BNM take any reports on counterfeit money seriously.
“The public is urged to lodge a police report immediately upon receiving any banknote suspected to be a counterfeit.
This will facilitate immediate investigation on the matter,” according to BNM.
BNM stated that together with the banking industry, it has set sufficient measures to ensure counterfeit money do not enter the financial system, including at the Automated Teller Machines (ATM) network.
According to the central bank, a Guideline on Handling of Suspected Counterfeit Malaysian Currency Notes has been issued to the banking industry.
The guideline set out steps that must be complied by commercial banks, cash handlers, cashiers and external security companies transporting cash, when handling money deposited by the public at counters, or parties who found counterfeit money during a cash process.
The Malaysian banknotes also have the latest security features which are hard to be forged.
BNM advise the public, including retailers, to be more vigilant when handling money and apply the “Feel, Look, Tilt and Check” technique.
“A banknote paper has texture and a polymer note is made from a special plastic. Both paper and polymer has a raised print on the first Yang di-Pertuan Agong’s portrait and texts,” according to BNM.
The central bank has also advised public to direct the banknote towards a white light and check the three-dimensional water-mark portrait.
SOURCE: BERNAMA
BNM: Feel, look, tilt and check to avoid counterfeit money
