Rwanda National Police

Police in Kicukiro District arrested two suspected conmen following a tip-off that the duo was circulating fake currencies.

The suspects arrested in Gikondo Sector were identified by the Police as Valence Sinayobye and Hakorimana Jean Bosco.

Central region police spokesperson, Senior Superintendent of Police (SSP) Emmanuel Hitayezu said that the duo was arrested after they defrauded someone of Rwf500, 000.

“Police received a tip-off from someone that they had conned. They sold him €1050 at Rwf500,000 but later realized the euros were fake, and the suspects were traced and arrested,” said SSP Hitayezu.

He added on that investigations are still underway to identify the exact source of the counterfeits since the suspects also argue that they were given the counterfeits by another person.

“We discourage anyone from buying or selling foreign currencies from black-markets. Such markets facilitate the circulation of fake currencies and increases the risks of losing your money,” said the spokesperson.

He outlined effects of counterfeits to the economy saying that; “besides being illegal and a crime under the Rwandan laws, fake money has an ill-effect on society as it leads to a reduction in the value of real money and victims lose their money.”

Though financial institutions have installed hi-tech equipment to easily detect fake monies, the likely majority victims could be the local people dealing in small businesses in communities; those selling vegetables, owning small shops in villages, telecom banking agents, to mention but a few.

“These traders will lose their goods to these crooks and will not be reimbursed for the detected and confiscated fake monies.”

Some individuals involved in forging and circulating monies have been arrested, majority prosecuted.

Articles 601 to 604 of the Rwandan penal code criminalize and punish those who falsify or alter coins and bills which are legal tender. The articles also punish those, who knowingly circulates fake monies and those who acquires fake currencies unknowingly, but circulates them after discovering they are counterfeit.