CBSI on Counterfeit Notes
16.02.2021– The Central Bank of Solomon Islands received reports of counterfeit $100 notes with Serial No: A/10 297315 seized by a business firm operating in Honiara.
CBSI would like to warn the public and communities to take heed of counterfeiters and their activities. Cashiers are specifically advised to be extra vigilant when receiving large amounts of cash from customers.
Counterfeit notes are a threat to the circulation of our genuine or legal tender currency. Their presence in our financial system, if not contained, has the potential to undermine the confidence in the use of our currency notes. Similarly, because counterfeit notes are not legal tender in Solomon Islands, they are not reimbursable, hence, is a loss to traders.
Only the Central Bank has the sole right of printing and issuing currency notes and coins in Solomon Islands. No other person is allowed to print or issue currency notes or coins in Solomon Islands and any person who is found guilty of production or possession of fake notes is liable on conviction to a fine of fifty thousand dollars or imprisonment for seven years.
CBSI wish to remind and inform the general public, communities and business houses that every currency note comes with security features that act as a deterrent and safeguard to minimize the risk of counterfeiting.
The Central Bank encourages the public to be aware of the security features and be able to distinguish between genuine and fake notes.
The following are the security features of real genuine banknotes:
- Woven silver thread line;
- Watermark depicting eagles head (new series), it is visible from both sides of the banknotes;
- Silver dual image hologram on $50.00 and $100.00;
- Color and texture of banknotes, color should stand out and should be rough when feel with hands;
- Look for electrotype (word CBSI) at the background when hold against light;
- Block invisible inks on the surface of the notes;
- Red fluorescent serial numbering;
- Sizes and edges are even; and
- Do a simple color test by rubbing against a white paper, the color of the note will be noticed on the paper.
The best security features to look out for:
- Paper and feel (crispy texture or feel to the notes);
- Color and design;
- Micro print;
- Sizes and edges;
- Security thread (silver cleartext security thread);
- Watermark (Eagles head or flying Eagle);
- Silver hologram;
- Simple color test; and
- Polymer substrate used on $5 note.
- If you are unsure, bring the note to CBSI
How to detect a counterfeit banknote:
- Do not rely on one security feature;
- Always look out for as many security features as possible; and
- Always take your time to check your money, where possible.
What should I do if I have a counterfeit banknote?
If you suspect that a note is counterfeit, do the following:
- If possible, try to hold onto the banknotes, and do not re-circulate it;
- Contact CBSI or Police immediately;
- Note the description of the person conducting the transaction;
- If you hand over the banknote to the police, always make sure to get a receipt, if it is a counterfeit, you will not get it back, if the banknote turns out to be real it will be returned to you.
CBSI advice if any member of the public has a counterfeit banknote in his or her possession, please do the right thing.
For more information, please contact:
Central Bank of Solomon Islands | P.O. BOX 634 | Honiara | Ph: (677) 21791 | Email: email@example.com | Website: www.cbsi.com.sb