Seizures of fake banknotes rise

Seizures of fake banknotes rise

JAKARTA (JP): The authorities seized counterfeit rupiah
banknotes totaling Rp 5.96 billion (US$795,000), about 0.012
percent of the Rp 46.82 trillion currency in circulation and a
huge increase from previous years, in the first nine months of
the year.

H.Y. Sumanto, a senior official at Bank Indonesia, said on
Thursday it was the highest amount of counterfeit money recorded
by the central bank.

"But whether the figure is large or small, Bank Indonesia
fully realizes that the amount of counterfeit money seized has
increased sharply during the current economic crisis period.
That's why we need to step up the preventive measures," he said
at a seminar on counterfeit money.

He said complaints about counterfeit money were rare before
the crisis.

The amount of counterfeit rupiah notes seized in 1996 totaled
Rp 225.7 million of the Rp 23.93 trillion in circulation, he
said.

Sumanto said Bank Indonesia was using various security
techniques, including the use of a particular paper which is
difficult to counterfeit, and also sophisticated printing
technology.

"Through these preventive measures, we expect to minimize the
opportunities for counterfeiters."

He said that country's highest authority in fighting money
counterfeiters was in the hands of the Counterfeit Money Fighting
Coordinating Body (Botasupal), which is a unit of the National
Intelligence Coordinating Agency.

He explained that Bank Indonesia would also help promote
Botasupal throughout the country to increase the public's
awareness of the function of the agency.

"We will exert efforts in boosting the public's awareness of
the characteristics of authentic money.

"With better awareness, the public can easily make a response
when encountering counterfeit money."

He added that the agency needed to be restructured, including
the possibility of introducing bankers into its organizational
structure. (rei)