RBM Engages Banks, Police on Currency Counterfeiting

The sentiments come when a few days ago RBM governor announced the introduction of the K5, 000 banknote The sentiments come when a few days ago RBM governor announced the introduction of the K5, 000 banknote - file photo

The Reserve Bank of Malawi (RBM) says is in constant discussion with the Malawi Police Service and the Judiciary to establish permanent measures to pin down perpetrators of currency counterfeiting in the country.

RBM Currency Management Director, Joseph Milnera, told journalists after engaging law enforcers in Blantyre on Thursday that police officers and commercial banks have to be vigilant in enhancing availability of money processing machines to detect fake banknotes.

“We believe that commercial banks, the judiciary and Malawi police have the crucial role in combating the counterfeiting of Malawi currency. We want all perpetrators to be apprehended,” said Milnera.

On reports that some investigators and prosecutors connive with producers of fake bank notes, the RBM Currency Management Director said they have intensified public awareness and engaging various stakeholders to deal with such mal-practices.

Several police officers who attended the meeting promised to be professional in handling suspects of forging the country’ Currency.

The sentiments come when a few days ago RBM governor announced the introduction of the K5, 000 banknote expected to be in circulation on February 24 next year.

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Last modified on Friday, 03/12/2021

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