The Bank of Sierra Leone last Friday 21st August, 2020 raised alarm and alerted the public of the circulation fake United States Dollars. The notification emerged following robust joint reactionary measures that were recently undertaken by the security and the Financial Intelligent Unit.
In a press release issued from the central bank’s Public Relations Department, cautioned members of the public, investment entities and the business community trading in foreign currencies with grave concern, to beware of the circulations of counterfeits within Sierra Leone.
The release clearly outlined the bank’s mandates with the statutory authority in ensuring and maintaining finance stability in the country, whiles working closely with the Sierra Leone Police and other law enforcement agencies to investigate the circulations of fake United States Dollars in the country.
The bank as stated in its release, assured all of ensuring that foreign currency purchased at exchange entities it authorizes and licenses are genuine, thus sternly warned the public to conduct their foreign exchange transactions in only such institutions.
It further informed appropriately about the prohibition of “prohibition of foreign currency transactions by unlicensed operators” issued in March 2020 and additional measures issued in April 2020, and to warn the public that buying and selling of foreign exchange through individuals and/or Illegal institutions not licensed by the central bank shall be punished upon conviction by three years imprisonment or fined One Hundred Million Leones both.
