Central Banking

Counterfeits found in Namibia days after new currency launch

namibia-50

The Bank of Namibia has warned that counterfeit banknotes have been discovered just days after the May 15 launch of its new banknote series.

A statement posted on the central bank's website said fake 20 and 50 Namibian dollar notes had been "detected", with some already confiscated. "While the matter is currently under investigation, some suspects were already apprehended by the police," the central bank said.

Despite the disappointingly short timeframe before the fraudsters sprang into action

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