MMA cautions about counterfeit currency

Authority (MMA) has advised caution with the increase in the number of counterfeit currency in the past two days.

MMA issued a press release today saying that although the press conference on 5 October highlighted that the number of counterfeit money that was brought to MMA was reduced, the number has risen again in the past two days.

“It is noted that the number of photocopy notes presented to this Authority by the banks have increased in the past two days. And so on average seven photocopy notes were presented to this authority in these two days.” The MMA statement said.

The Central bank said that the counterfeit notes are photocopies of the MVR 500 notes. MMA also noted that there is cello tape on the security thread.

MMA said that the watermark of the national emblem is absent in the counterfeit notes.