Tue, 2009-03-17

The Bermuda Police Service, Financial Crime Unit along with the Community Policing Division (Uniform) is investigating a large quantity of US counterfeit $50 notes that are currently circulating around the island. So far early indications are that these notes are being passed at various businesses, mainly night clubs.

We are asking merchants to please be on the lookout for the following US $50 note serial number GF50643268A and to contact Police immediately. We also ask that they take note of the individual or individuals passing the notes.

Monday the 9th of March was the official launch date of the new Bermuda Banknote Series and I would like to take a few minutes to point out some of the security features that will provide Bermuda Currency with the highest level of protection.

• See-Through – New Bermuda Notes have a unique feature called OPTKS in the form of an oval on the front and strip on the back which look metallic in reflected (day) light but which form a transparent oval with a map of Bermuda repeated inside when held up to the light.

Additional security features one should be aware of:

• Watermark and Electrotype (When the note is held up to the light a hibiscus flower and a bright sail boat are visible)
• See-through feature (completed images of creatures individual to each denomination will appear when the note is held up to the light)
• Serial numbers increasing in size
• Iridescent band on the $20, $50 and $100 denominations
• Hidden image (tilt the note and an image of the denomination numeral will appear)

With the launch of the new Banknotes this means we now have two sets of Bermuda notes in circulation which increases the opportunity for individuals who produce counterfeit notes, therefore merchants need to make their staff aware of the importance of taking a few seconds to examine notes they are taking in, especially the larger denominations.

For the first quarter of this year we have seen an increase in the amount of counterfeit currency being passed and phishing scams. One could suggest or guess that these increases are a result of the current economic situation, and individuals are becoming more desperate financially.

Therefore we would also like to take this opportunity to speak about the phishing scams and remind members of the public that if they are receiving emails, text messages, faxes or letters requesting their financial information or personal details even if it looks like it is coming from a financial institution not to give out the information.

Also if they have received anything via those mediums informing them they have won, inherited, been willed or been given a large quantity of money and they know they have not entered anything to win or they don’t have a wealthy relative living in Timbuktu or some other known or unknown parts of the world, ignore them.

Persons should also be aware of when they are giving out information over the internet as we have seen some of the letters, faxes and emails be directly addressed with individuals names on them.

If you are going to use the internet you should make sure that you have adequate anti-virus software, refrain from using internet café’s especially when travelling overseas and passwords made up using your children’s, spouses, house or pets names.

It only takes a few seconds to verify if these emails, letters, faxes, text messages and counterfeit notes are legitimate. If it sounds too good to be true then it is and an ounce of prevention is better than a pound of cure. Remember - you don’t get something especially a million dollars or more for nothing and what you stand to lose is far greater had you just taken those few seconds to verify or been more careful in giving out your personal information.

As always we ask that before you give out any personal information or respond to any of the letters, emails, faxes and texts that you contact us at the Financial Crime Unit on 299-4330, 295-0011 or you can email us at fraud@bps.bm.

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