Fake Money Reports Only Surfacing From Grenada, Says ECCB

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The Eastern Caribbean Central Bank (ECCB) has giving assurances that the Eastern Caribbean dollar remains stable

They also stressed that Eastern Caribbean banknotes are protected by the various security features of the notes.

“At this time the situation that has been circulating via social is only unique to Grenada. We have no reports from the other Eastern Caribbean territories, so it’s just Grenada,” said Rosbert Humphrey, Deputy Director of the Currency Management Department.

The Royal Grenada Police Force recently retrieved three counterfeit $50 notes and one $100 note.

Humphrey assured people that there is no need for the public to be alarmed.

“There is no real reason for persons to be worried at this time, there were three $50 dollar counterfeit notes that were received in Grenada and one $100 dollar counterfeit note received,” he said.

“So there’s no real reason just a total of four notes that were actually received by the police in Grenada. I just want to assure the general public that the Eastern Caribbean Central Bank notes have a lot of security features so we are basically secure, we are safe.

“However you will find from time to time especially around Christmas time, carnival time that person would attempt to actually counterfeit or duplicate them. I must remind the public though that we have a quite a lot of trained persons in the police force in the Eastern Caribbean and our trained persons here at the Eastern Caribbean Central Bank.

“Notwithstanding that, the commercial banks also have personnel who are trained to actually differentiate genuine notes from counterfeit bank notes.”

The ECCB is urging the public to be vigilant, particularly during Christmas and carnival festivities, periods when the bank says perpetrators tend to engage in the production and circulation of counterfeit notes.

The Central Bank is also reminding the public that it is an offence to be in possession of counterfeit Eastern Caribbean notes.

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