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)