BQK shows how to verify 2$ fakes, comes out with instructions for banks and businesses

Looking at the alarming situation in the country with the huge amount of counterfeit money left in the pockets of citizens and in business crates, the CEC has come up with a communiqué, providing instructions for citizens and having announced that all original currency without exception are a valuable means of payment in Kosovo.

No other authority can decide whether to ban or allow any legitimate payment instrument”, said in communique.

The CEC in the released communiqué has said that it knows the importance of providing the economy of the Republic of Kosovo with cash, and the need to preserve the credibility and integrity of the euro in its use as a payment tool, is to co-ordinate inter-institute with the responsible bodies to rely on their actions for limiting and preventing this anti-legal activity, providing all necessary co-operation and professional and technical support.

The BEC in this communiqué has called for citizens and businesses to be careful during transactions conducted with the 2 euro currency.

The Central Bank has said that real coins are distinct from fake ones and that they are likely to be identified.

The forged “Monedhat generally have different magnetic properties from true, as well as in sight have a poor quality of detail, usually different color of the circle and surface within the circle and lack of letters on the margins. Therefore, the CEC instructs citizens and businesses to rely on the following published manual for easier verification: https://bqk-kos.org/edu/materials/monedhat-euro/”, said in notification.

BQ in the communiqué has also provided instructions for businesses to make currency supplies through banks and verify coins before putting them in circulation.

“The CBK directs businesses to make currency supplies only through banks, accepted currency to verify before the same things re-launch, work in the awareness and training of employees and their identification.

In this regard, banks and other financial institutions must continue to freeze their capacities in addressing this phenomenon, facilitate new currency supplies for citizens and businesses, and increase communication with respective clients and authorities as effectively as possible.

Also, non-bank banks and institutions, using their adequate and advanced equipment, to facilitate the storage or replacement of coins that are originally detected with punishments at smaller coins or bills considered by citizens and easier circulated businesses.

To the extent possible, the avoidance of cash use and the use of electronic payment tools is recommended, but without obstructing or restricting everyone's right to choose the legal payment instrument in case of payment”, the communiqué is said among others.

The CEC has re-computed that counterfeiting money is a criminal offense and is sanctioned according to Article 296 of the Penal Code No. 06/L-074 of the Republic of Kosovo and Article 19 and 20 of Law No. 03L-209 for the Central Bank of the Republic of Kosovo, anyone who produces, puts in circulation, transports, accepts, uses, or owns counterfeit money in order to put it in circulation as real, is sentenced to fines or imprisonment. Therefore, in case of doubt, citizens and businesses are instructed to contact the Kosovo Police so that the alleged coins as counterfeits can be withdrawn from circulation and sent for analysis to the Kosovo Agency for Forenzic, so that the source of their origin and distribution within the country can be fought. Fighting this phenomenon will continue and such co-operation is needed for effective results from law enforcement bodies.