T&T Chamber of Industry and Commerce CEO Gabriel Faria remains “confident” that scammers will not be easily able to counterfeit the new 100 polymer bill.
Faria made the comment yesterday in response to a Guardian Media report which referred to a case in which a vendor at the Central Market in Port-of-Spain received a fake note while transacting business over the weekend and is now warning the public that scammers have produced a close replica to the bill.
Last December, the Central Bank of T&T announced the introduction of a new $100 polymer bill with enhanced security features to replace the old paper-based notes.
While admitting yesterday that he had not received any reports from members about cases of counterfeiting, Faria said,“I have not got any feedback for the members but I am fairly confident that whatever bill is out somebody would try to do a counterfeit. However, when I heard the Minister of National Security, the impression that I get is that is it is very blatant that the counterfeit is of a different texture. And I am saying that without having held a counterfeit bill. The counterfeit is very discernible from the correct product.”
However, he warned the business community and public in general that there would be people trying to create counterfeits and that they should be aware. He advised business people who are involved in everyday commerce to be vigilant.
“Whenever you are paying with large bills in many places, people go through a process of checking the bills, be it some sort of light or whatever to verify the bill.
“The only advice would be to take some sort of pre-emptive action to protect your own situation. Do not let someone give you ten 100 dollar bills and not go through them. Check each bill, make sure they are original bills.”