Fake money doing the rounds

2016-01-14 06:00

BUSINESS owners beware - there have been reports of counterfeit R100 and R200 notes in circulation.

Bob Pettersen of Schoolware Centre­ in Port Shepstone said his store had received many of the fake notes.

“It was only when I was banking the money that the teller informed me that some notes were fraudulent,” he said.

Bank staff told Pettersen that the magnetic strip on the note did not change colour in the light and the watermark­ was different to an authentic note.

“It’s good to know this information, but very hard to apply when receiving money as cashiers receive thousands of rands in cash at a time,” he said.

Nedbank and Ithala Bank had received counterfeit notes.

According to the South African Reserve­ Bank each note contains well established security features such as a watermark, which is integrated in the paper.

When held up to the light, the image is visible and will not produce on colour­ copiers.

A special thread is woven into the paper. On the front it appears as a silvery­ stripe. When held up to direct light, it appears as a continuous line on which the letters “SARB” can be seen.

High quality paper and print quality is superior.

Hold our banknote up to direct light and you will see its safety features.

What you should do when receiving a banknote:

• study the various security features built into our banknotes;

• make a habit of checking the banknotes you receive for these features; and

• don’t hesitate or feel embarrassed about holding a banknote up to the light, feeling for intaglio printing or flicking the banknote and listening for the characteristic sound.

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