BRIDGETOWN, Barbados, December 15, 2019 (CMC) – The Central Bank of Barbados (CBB) says while it has not yet “recorded an uptick in the number of fake notes so far”, it is warning consumers to be vigilant, as they go about their shopping for the Christmas season.
“We know that at times of the year, when there is an increase in cash, in circulation, there can also be an increase in counterfeiting,” said Octavia Gibson, Deputy Director, Currency at the CBB.
Gibson said the CBB is aware of a circulating social media post that shows four BDS$20 notes with the same serial number.
“While we have not examined the notes in question, I am comfortable, saying that the notes in the photo are counterfeit, because every Barbadian banknote has a unique serial number. If you receive two notes with the same number that is a red flag,” she noted.
She said that there are other ways people can authenticate their notes, adding that “Barbadian banknotes contain many security features that will help you to tell the difference between a genuine note and a counterfeit”.
“Visit our website, check our social media pages, or download our banknote app, to learn what to look for. If you use these features to check your money, it will be very hard for a fake note to fool you,” the Central Bank official said, even as she sought to re-assure the public that overall incidences of counterfeiting are small.
“Even with periodic increases, the level of counterfeiting in Barbados is quite low. Nevertheless, we know that no one wants to lose out. That is why we make these online resources, as well as printed materials available, free of cost to persons, who want them. We encourage everyone to use them. Learn the security features and then check your money, as soon as you receive it,” she added.