The Bangladesh Bank has issued a comprehensive public advisory in response to recent reports concerning the intrusion of a huge quantity of counterfeit notes into the country.
To this end, the central bank on Wednesday issued a circular urging the public to exercise greater caution during cash transactions and adhere to guidelines designed to prevent the use of fake currency.
According to the circular, when receiving notes, individuals must properly verify all security characteristics. These features include the watermark, security thread, intaglio printing, colour-changing ink and micro-text.
The BB has also urged people to use banking channels during large financial dealings.
Whenever feasible for cash transactions, the public is encouraged to utilise digital methods, the central bank added.
If a suspicious note is identified, or if any related information is known, the individual must immediately contact the nearest law enforcement agency directly or use the National Emergency Service 999.
The central bank has also urged the people to know the real note 鈥� ensure safe transactions. Resources for identifying authentic currency are readily available. Information regarding the features of genuine notes can be accessed by visiting the official website: https://www.bb.org.bd/en/index.php/currency/note.
Furthermore, X-banners or posters detailing the characteristics of authentic notes are prominently displayed at every bank branch.
The BB has given the instruction following a recent report which was circulated across various platforms, including daily newspapers, Facebook and other social media outlets.
The central bank acknowledged that such information may potentially cause anxiety and confusion among the common people.
Authorities strongly emphasised that under Bangladesh鈥檚 prevailing law, the manufacturing, possessing and transacting of counterfeit notes was completely illegal and constitutes a punishable offense.
The Bangladesh Bank and associated law enforcement agencies are fully aware of the spread and detrimental effects of fake currency.
They have confirmed that they are actively engaged in taking regular and effective measures to prevent the circulation of counterfeit money.
