Look out for scams – Central Bank

As the Crop Over festivities intensify, the Central Bank of Barbados (CCB) is warning the public to be vigilant avoid falling victim to counterfeiters when carrying out cash transactions.

Deputy Director of Currency Octavia Gibson said it was during times of high commercial activity that criminals attempt to pass fake money.

“Counterfeiters are counting on you to be too busy, too distracted to check your money,” Gibson said.

“Check the back and front of your notes. Learn three or four security features and check for them every time. Learn the feel of paper and the feel of genuine banknotes, know the security threads on each denomination [and] know the two watermarks on each banknote. Become very familiar with your notes,” she advised.

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The banking official pointed out that all banknotes, and especially the new series, contained special security features that were difficult to duplicate but easy to identify.

Some security features include short reflective bars, which run from top to bottom of the note, which changes colour from red to green as the note is moved around.

“Counterfeiters are not targeting the security features but are simply photocopying notes. The public needs to distinguish paper copies from the real cotton banknotes,” Gibson emphasized.

The Central Bank explained that when the notes are held up to the light, the face of the person featured on the note and the denomination of the note, in numbers, appears on the left of the note.

It said there is a holographic patch on the right side of the two highest denominations, with the pelican as the dominant image on the $50 bill and a dolphin on the $100 bill.

When the note is tilted, that image, as well as the background images – broken tridents, Pride of Barbados flowers and the note’s denomination – appear and disappear and change colour, the CCB said.

“Under UV light, the waves and broken trident in the centre of the note fluoresce. On the $2, $5, and $10, these glow in a shade of green, while on higher denominations, they glow in two colours: pink and green for the $20, green and yellow for the $50 and yellow and green for the $100. The serial numbers of all denominations also fluoresce,” said the Bank, which is advising the public to visit its website www.centralbank.org.bb for more information on the security measures. 

One Response to Look out for scams – Central Bank

  1. J. Payne June 10, 2016 at 7:21 pm

    Don’t let anybody hand you a folded up dollar because you may not notice until too late.


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