CBK to launch counterfeit currency campaign
The Central Bank of Kenya (CBK) is launching a new campaign aimed at educating people in the country about counterfeit currency.Kenyans will also be taught how to handle money so as to keep it in good condition and cut down on wear and tear, Business Daily reports. Although fake money is not said to be a major problem in the country - the CBK says counterfeit cash in circulation is within the global benchmark level of 0.002 per cent - the initiative will help to improve the detection rate in the nation.
Back Office Manager for Currency Operations Kibunyi Amdany was quoted by the news source as saying the bank - which was established in 1966 and is responsible for setting monetary policy in Kenya - is "yet to come across an imitation anywhere close to the genuine article".
He said there are a number of things members of the public can check to ascertain whether a note is real, with genuine currency featuring a security thread that can be visible through light. Counterfeiters also have difficulty accurately reproducing the lion head watermark found on the banknotes, he remarked.