Bangladesh Bank urges public caution amid fake currency rumours

Bangladesh Bank logo. Wikimedia Commons

Dhaka, Oct 15 - Bangladesh Bank (BB) on Wednesday issued a public advisory following social media and media reports about a surge of counterfeit currency, reportedly entering the country from India.

The central bank urged citizens not to panic unnecessarily.

In a media release, Bangladesh Bank warned that such reports could create confusion and instability, and reminded the public that manufacturing, carrying, or transacting fake notes is a serious offence under existing law.

The central bank said it is working closely with law enforcement agencies to prevent the circulation of counterfeit money.

Both BB and security forces are “maintaining strict vigilance and taking regular, effective measures to prevent the circulation of counterfeit money” by monitoring the source, flow, and use of fake notes.

The advisory follows a viral Facebook post by a Qatar-based investigative journalist, which prompted Bangladesh Bank and national law enforcement agencies to intensify countermeasures against fake currency.

To safeguard the public, BB advised individuals to verify security features when receiving notes, including watermarks, intaglio print, security threads, colour-shifting ink, and micro-text.

The bank urged the public to conduct all large-scale transactions through formal banking channels and to prefer digital payments over cash wherever possible.

Citizens are also encouraged to report any suspicious notes immediately to the nearest police station or by calling the National Emergency Service 999.

The central bank also reminded the public that detailed information on the security features of genuine notes is available on its website, www.bb.org.bd, and that instructional X-banners and posters are displayed at every bank branch nationwide. - UNB