By NAKUBIANA MUMBUNA –
THE Bank of Zambia (BOZ) has unearthed a scam where K50 jubilee commemorative counterfeit notes have been flooded into circulation.
The jubilee commemorative bank notes which bear the portraits of former heads of State were launched by Finance Minister Alexander Chikwanda in October as Zambia’s tribute to the former Presidents that have governed the country in the last 50 years of independence.
BOZ acting head of communications, Besnat Mwanza said the K50 counterfeit notes in circulation had certain security features missing and were smaller in size.
The commemorative bank notes bear the same features as the current K50 notes except for the portraits of the heads of State which have replaced the leopards.
The commemorative K50 notes also include the wording 50th Independence Anniversary on the back side of the notes.
“The size of the fake bank notes can also act as the first check on the genuineness of the currency. All notes issued by BoZ are of standard sizes and bear security threads which are embedded in the subtract with readable text,” Ms Mwanza said.
Ms Mwanza has since called on the members of the public to be vigilant and cautious when dealing with commemorative bank notes.
“Members of the public should ensure that notes contain the security features as the security thread and the water mark, “she said.
She also urged members of the public to report any one trying to use the fake notes to the nearest police station or to BoZ.
On coins, Ms Mwanza said all coins issued by BoZ were legal tender and should therefore be accepted in all transactions.
“However, we wish to urge the public to exercise caution when using coins in large quantities because high value purchases may inconvenience traders,” she said.