Currency Counterfeit: Rwanda Police Issues Stun Warning

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Police in Nyanza District met with over 70 airtime vendors and urged them to be watchful of people who may give them counterfeit currencies as they attempt to purchase airtime.

Following cases of elements attempting to defraud vendors of airtime vouchers and circulating counterfeit currencies, police in Nyanza District met with the affected group operating in the district and urged them to be vigilant whenever they are making financial transactions with the buyers.

Vendors of airtime vouchers and telecom banking agents are said to be those targeted, although in most cases such attempts are foiled and suspects arrested.

The Busasamana Police station commander, Inspector of Police (IP) Athanase Niyonagira, in a meeting with the group, reminded them of the importance of their business for personal and family development, and urged them to watch out against individuals such as those counterfeiting and circulating currencies, whose criminal acts can affect their business.

“Your role towards development is crucial, that’s why your business should be protected from any harm. This is why we encourage you to always verify the currencies before making any transaction,” said IP Niyonagira

 He added that; “Counterfeiting currency is a crime that poses a threat to the economy and is a source of financial loss to its citizens. You should always be vigilant and check the given currency notes thoroughly, and report people that are involved in these criminal acts that have ill-impact on the economy.
The effects of counterfeit to a trader are grave as they could easily lead them out of business.”
 IP Niyonagira explained to be them that fake currencies leads to reduction in the value of real money, increases inflation, unauthorised artificial increase in the money supply; a decrease in the acceptability of paper money; and losses, especially when traders are not reimbursed for counterfeit money detected.

They were also called upon to partner and collaborate with the police by sharing information on any suspected criminals.

 

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