Tuesday's discovery of Sh2 billion suspected fake money is one of many unending cases of fraudulent businesses that could have hurt the economy of the country.
According to DCI George Kinoti, the money had been safely stored at Barclays Bank Queens branch in Nairobi, poking holes to safety in the banking industry across the country.
In February this year, police also impounded Sh32 billion also in fake currency at Ruiru and the suspects are said to have been living flashy lifestyle in renowned suburbs of Nairobi.
Before moving to the bank to question the authenticity of suspected fake money, reports the Nation, here are seven tips that van help you handle the situation.
1. Check for the water mark on the Kenya shilling notes. On the top side of the note that has the photo of the first Kenyan President Jomo Kenyatta, a water mark of a lion should be visible when the note is held against a source of light. The denomination of the note should be imprinted below the water mark.
2. Security band: Every currency note should have a shiny band that runs through its face on the right side. On the band, the currency value and CBK is written.
3. Pay attention to detail: Note the writing on the bills. The words Banki Kuu ya Kenya should appear at the top right front side of the note, with Central Bank of Kenya appearing beneath it. The coat of arms with the two lions holding spears and a shield should be beneath that. Also check for the amount in words and the signatures of the CBK governor and member.
4. Serial number: Every note has a unique serial number on the bottom right.
5. Date: Check the date on the top left corner of the bill, the day, month and year the bill was made.
6. Texture: Keep in mind that genuine currency is not made of paper but a fine linen, a type of cloth. Bank notes should feel different from paper.
7. The use of a special black light can reveal if a note is genuine or not. This light is mostly used in banks, foreign exchange bureaus and of late by M-Pesa agents.