• Thursday, March 05, 2015

Analysts discuss ways to raise awareness on fake notes

Star Business Report

A seminar of policymakers, regulators, bankers and international experts took place in Dhaka yesterday to raise public awareness on counterfeit banknotes as the country beefed up its efforts to prevent forgery.
Bangladesh Bank and International Institute of Currency Technology organised the first international seminar on public awareness on fake note detection and prevention, at Shahid Suhrawardi Indoor Stadium at Mirpur in the capital.
The fake-note makers use sophisticated technology to make the fake notes look just like the real ones, MA Mannan, state minister for finance, told the participants at the event.
The state minister said fake notes are more prevalent in rural areas as the facilities to detect the counterfeit bills are not adequately available there and those who deal with money do not know much about it.
“It is the responsibility of the state to protect the public from the fake notes.”
A number of speakers at the seminar said fake currencies and notes not only damage the economy but also encourage smuggling and terror-financing.
Current laws and the security features in the notes are not enough to prevent counterfeiting and are not adequate to forestall the spread of fake currencies, they said.

"It is a unique seminar to raise awareness so everybody becomes aware about counterfeit notes and the general people are not punished," said Helal Ahmad Chowdhury, managing director of Pubali Bank.
Bankers said public awareness is the most important and effective tool to cut production and circulation of fake notes.
Abul Quasem, a deputy governor of Bangladesh Bank, urged the banks to remain alert so fake notes do not go out or come into the banks.
Bankers, money handling agencies, law enforcing agencies and common users of banknotes took part in the event.

Published: 12:00 am Sunday, August 24, 2014

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