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Jakarta Post

Islands in focus: Counterfeit money flow on the rise in Jambi

  • The Jakarta Post

    The Jakarta Post

Jambi   /   Sat, July 11, 2015   /  10:43 am

JAMBI: The circulation of counterfeit money in Jambi province has risen sharply, as local authorities found 663 fake banknotes with a total value of Rp 56 million (US$4,200) during the first six months of the year.

'€œSuch findings were made from January until the end of June and we believe that the circulation of counterfeit money has been rising further. Discoveries of fake banknotes have risen sharply from 2014, when we managed to discover 662 banknotes with a nominal value of almost Rp 62 million,'€ said Bank Indonesia'€™s Jambi office head Vielloeshant Carlusa on Friday.

The confiscated bills, according to Carlusa, were in denominations of Rp 100,000 (453 notes), Rp 50,000 (202 notes) and Rp 20,000 (eight notes).

Carlusa added that Jambi had become a center for counterfeit money circulation, with transmigration settlements, such as in Bungo, Tebo and Bangko regencies, and rural areas being the main targets of such illegal operations.

Those who hold the fake banknotes, according to Carlusa, usually spend them at small kiosks at night, or at gas stations.

'€œThe counterfeit money is usually reported by a person to us. Some of the fake banknotes have also been found at money exchange counters and banks,'€ he said.

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