Between January and 0ctober this year, the Bank of Namibia (BoN) recorded 334 counterfeit bank notes with a total face value of N$56 980.
This is according to the latest records made available to Windhoek Observer by the central bank spokesperson Kazembire Zemburuka.
182 counterfeits with a face value of N$26,580 have been passed or exchanged while 152 pieces with face value of N$30,400.00 were intercepted before circulation, revealed Zemburuka.
Most counterfeit banknotes were seized in Khomas and Erongo regions.
In addition, he said, a total of 133 pieces of South African Rand (ZAR) with a face value of R19,200 were recorded by the Bank and all recorded counterfeits have been passed or exchanged.
In the most recent case, two Namibians and a Rwandese suspect were arrested last week after they were allegedly caught counterfeiting banknotes at a central shop in Katutura.
The suspects were allegedly arrested through an intelligence led operation and have been remanded in custody after appearing in court on 30 September.
According to BoN’s Sandra Garises police officers were able to confiscate all counterfeit notes before they could be circulated to the public.
Furthermore, Zemburuka said counterfeit notes are mainly exchanged at small businesses, home shops, and taxi services as the recipients of these notes may not be aware of the security features and therefore fall victim to counterfeits or are in a hurry and do not have time to verify and reminded members of the public to follow the three basic steps to check the security features on banknotes.
“Step 1 ‘Look’: Take a careful look at the overall colours, portraits, and serial numbers, lift the banknotes to light and discover perfect see-through features and watermarks.
Step 2 Tilt’: This involves flipping the banknotes to check for colour-changing, dynamic features and glossy prints. Check the multi-coloured security thread on the reverse.
Step 3 ‘Feel’: Feel the unique banknote touch and raised prints by running your fingers on both sides of the banknotes, especially on the words BANK OF NAMIBIA;
Main Portraits, and the Braille dots for the visually impaired.”