Maldives Monetary Authority (MMA) has revealed that there has been a surge of counterfeit notes in circulation and that the Authority had in the past week seized around 20 such notes.
MMA Assistant Governor, Banking Operations Mariyam Hussain Didi issued a fresh appeal for vigilance given the surge in such issues.
She said that the MVR 500 counterfeit notes were a copy and such copies will be easy to detect as frauds as the security features will not be present in the counterfeit ones. She added that counterfeit notes will have a strip mimicking the strips in actual notes, but that strip will be pasted on the note.
Mariyam Hussain Didi added that the counterfeit notes will be distinguishable even from touch and appealed all to be vigilant for such issues.
MMA reports surge in counterfeit notes
