More Counterfeit Money Surfaces

Wednesday,  November 10, 2004

Following a warning issued last week regarding counterfeit cash, the Cayman Islands Monetary Authority (CIMA) and Royal Cayman Islands Police (RCIP) have reported that more $100 counterfeit notes are in circulation than was first suspected.

The most recently identified counterfeit notes feature the usual turtle and C-I-M-A watermarks, but they are characterised as counterfeit by the fact that the serial numbers begin with the C/1 prefix, followed by the numbers 106 231, or a variation of these numbers, noticeably altered by a pen or marker. 

The schooner hologram appears blue, not iridescent when tilted toward the light; the window thread is transparent, not its usual metallic colour, and the image of another thread is visible beside it; the words “Cayman Islands”, which appear on the window thread of genuine Cayman Islands banknotes, are not visible; and finally the notes are smaller in size than the standard genuine Cayman Islands banknotes.

The characteristics of the counterfeit currency announced last week include serial numbers beginning with the B/1 prefix, followed by the numbers 425 420, or a variation of this sequence of numbers, noticeably altered by a pen or marker.

The C-I-M-A watermark as well as the B/1 prefix of the serial number appears on the note, but genuine B notes do not have the C-I-M-A watermark. 

The front of the counterfeit notes read “Cayman Islands Currency Board” and the reverse reads “Cayman Islands Monetary Authority” as well as having a transparent window thread and not the usual metallic and the words “Cayman Islands”, which appear on the window thread of genuine Cayman Islands banknotes, are not visible. These notes are also smaller than the genuine article.

Although to date the only notes discovered have been one hundred dollar bills, the public is encouraged to look for any of these signs of counterfeiting when handling other denominations.

Anyone who may come into possession of these or similar notes or has any information is asked to contact the Financial Crime Unit of the RCIP on 949-8797 or Crime Stoppers on 800 TIPS (8477). 

Calls to Crime Stoppers are answered in Miami, USA, and callers can remain anonymous and may be eligible for a financial reward should information lead to an arrest.

Information relating to the security features of Cayman Islands banknotes can be found on the Authority’s website, www.cimoney.com.ky, under the title heading “Currency”.

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