Although currency counterfeit is very low in Rwanda, a single fake note can affect your business.
The circulation of counterfeit currency poses a serious threat especially to small businesses, affects national economy, and consumers.
Rwanda National Police (RNP) continues to work with the public, local authorities and other law enforcement agencies to fight this financial crime.
Last Thursday, Police arrested a 47-year old man in Gasabo District with counterfeits amounting to Frw100,000.
In separate operations conducted over the weekend in Nyagatare and Kamonyi districts, Police arrested four other people, who were trying to circulate counterfeit money. They were at the time found in possession of counterfeit banknotes amounting to Frw21,000.
Three of the suspects were apprehended in Kibirizi village, Mbare cell of Karangazi sector in Nyagatare District, after they were found with bills amounting to Frw16,000, all counterfeit.
The fourth suspect was caught with fake currency amounting to Frw5000, in Kigembe, Gacurabwenge sector in Kamonyi district.
Superintendent of Police (SP) Hamdun Twizeyimana, the Police spokesperson for the Eastern region, said that the arrest of the trio in Karangazi, Nyagatare District, followed information provided by the people in Mbare trading centre.
"They had bought a pack of cigarette, paid a counterfeit note. When Police apprehended them, they recovered a fake note of Frw5000 from one of them, the other had a note of Frw2000 while their third accomplice had nine fake notes in the denominations of Frw1000," SP Twizeyimana said.
He added that the search is underway for the fourth member of the group and suspected head of the ring, who allegedly supplied the counterfeit banknotes.
In Kamonyi District, the suspect had paid a fake banknote at a petrol station but was reported by a pump attendant.
All the suspects were handed over to RIB for further investigations.
Article 269 of law No 68/2018 determining offenses and penalties in general, states that any person, who fraudulently counterfeits, falsifies or alters coins or bank notes which are legal tender in Rwanda or abroad, notes issued by the Treasury with its stamp or brand, either banknotes or alike that have legal tender in Rwanda or abroad, or one who introduces or issues in Rwanda such effects or notes with knowledge that they are forged or falsified, commits an offence.
Upon conviction, he/she is liable to imprisonment for a term of not less than five years and not more than seven years.