EDITORIAL: Intensify crackdown on counterfeit money dealers

Police arrested a 36-year-old man in the City of Kigali over possession of counterfeit money. The man was arrested in Nyabugogo bus terminal at about 4am on Saturday as he attempted to board a vehicle to travel upcountry.

Police arrested a 36-year-old man in the City of Kigali over possession of counterfeit money. The man was arrested in Nyabugogo bus terminal at about 4am on Saturday as he attempted to board a vehicle to travel upcountry.

This is one of the many cases about counterfeit money in the recent past. Police have apprehended several dealers in fake money and the problem might get worse as we get close to the end of year festivities. This, therefore calls for serious measures to nip the problem in the bud.

 

As Police tries to stump out the crime, other key stake holders need to join hands with Police and sensitise the public especially in the rural areas on how to differentiate legal tender from counterfeit. Dealers in counterfeit target gullible people who cannot easily distinguish between a genuine note and a fake one.

 

The central bank should also regularly release illustrations of how legal money looks through the media and in all public places across the country.

 

The counterfeit dealers also target areas where money circulation is concentrated like banks and markets. In some cases, the criminals connive with bank workers who give fake notes to unsuspecting customers especially those who withdraw large sums of money.

They also work as a syndicate and probably the source of the fake money is one. Police should work round the clock to establish the source of the counterfeit money as the best way to decisively deal with the problem. Establishing the origin of the counterfeit money will help stump out the vice once and for all.

Counterfeit money is a cancer to the health of the economy and ultimately affects national development. Concerned authorities should come up with a strategy to address this problem before it gets worse.

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