Rwanda National Police

Counterfeit money may not be a security threat in Rwanda but it remains a problem that may affect the economy of the country and those that fall victim as forgers prey.

To protect the economy and the society from falling victim of forgers’ malpractices, Security organs in partnership with the public have a responsibility of ensuring that the vice is uprooted.

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.

It increases prices (inflation) due to more money getting circulated in the economy – an unauthorized artificial increase in the money supply; leads to decrease in the acceptability of paper money and cause losses to the business community.

The presence of counterfeit currency is not a new phenomenon. Many countries have faced this problem, and this is why Rwanda National Police has taken the matter with all seriousness and arrest the flow of such counterfeit currencies circulations in the country.

Particularly, on Tuesday, Police in Burera district arrested Innocent Ndayambaje, with 38 counterfeit notes of 5000 denomination.

According to Chief Inspector of Police (CIP) Andre Hakizimana, the Northern

Province Police Spokesperson, the suspect was arrested as he attempted to buy tea from a restaurant using fake money.

Police was tipped off by residents who suspected Ndayambaje of having fake money.

“This is the spirit that is required of the general public, especially the business community, to always be vigilant and check the given currency notes thoroughly, and report people that are involved in these criminal acts that have ill-impact on the economy. The effects of counterfeit to a trader are grave as they could easily lead them out of business. This is why we continuously request the public to be cautious about fake money,” CIP Hakizimana said.

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, 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.

It should, therefore, be a collective responsibility by everyone to report those individuals involved in falsifying and circulating currencies.