Counterfeit RM100 Banknotes are of low quality
This is with reference to the article entitled "Beware these slick phonies" published in The Star on 4 September 2017.
The Bank would like to reiterate that incidences of counterfeit banknotes remain low and were isolated cases. Any insinuation that the incidences of counterfeit notes are prevalent will cause undue public consternation. The Bank views seriously any reports on counterfeit banknotes.
The Bank has been working closely with the Royal Malaysia Police to promptly act on reports lodged related to counterfeit banknotes, including for the cases reported in the media article.
Contrary to certain report, the Bank and the police have not detected any high quality counterfeit banknotes printed using paper resembling actual banknote paper and state-of-the-art banknote printing techniques. The counterfeit banknotes detected are of low quality, mostly printed on normal paper using ordinary colour printers/copiers and can be easily distinguished from genuine banknotes by using a simple sense of touch and sight. Members of the public should be able to identify these counterfeit banknotes.
Members of the public are also required to lodge a police report immediately if they have received any banknotes suspected to be counterfeit. This will facilitate prompt investigation into the matter.
The Bank together with the banking industry has in place adequate safeguard measures to ensure that counterfeit banknotes are not passed through the financial system including the ATM network. A Guideline on Handling of Suspected Counterfeit Banknotes was issued to the banking industry that outlined the steps to be adhered by commercial banks, cash handlers, tellers and outsourced Cash-in-Transit security companies in handling suspected counterfeit banknotes deposited by members of the public over the counter or those discovered during cash processing.
Malaysian banknotes incorporate the latest security features that are difficult to counterfeit. Members of the public, including retailers, are advised to be vigilant when handling banknotes by applying the “Feel, Look, Tilt & Check” guide as follows:
To know more about the features of Malaysian banknotes, the public are encouraged to download the Bank’s My Ringgit Mobile App from the Apple iOS App Store or the Google Play Store. The App provides an interactive guide to the security features of the Malaysian currency.
Additional information:
My Ringgit App User Guide: https://www.youtube.com/watch?v=_pdM2YzqmAA
The MyRinggit app is available now to download, for free, from the:
Google Play Store at https://play.google.com/store/apps/details?id=myringgit.myringgit
or
Apple iOS App Store at https://itunes.apple.com/my/app/my-ringgit/id975426926?mt=8
For more information on identifying counterfeit banknote, please visit :
For Guidelines on Handling Counterfeit Banknotes: http://bnm.my/howtodealwithfakemoney
Bank Negara Malaysia
04 Sep 2017
© Bank Negara Malaysia, 2017. All rights reserved.