(Source: MySinchew)

Concerns are rising in Malaysia as counterfeit RM100 banknotes, marketed as “uncirculated,” are being sold online for approximately RM2. These counterfeit notes closely resemble authentic legal tender, leading to fears that they could be mistakenly passed off as real currency. 

Several popular online shopping platforms are reportedly selling these notes, which feature similar characteristics to genuine ringgit banknotes. The counterfeit notes include sequential serial numbers, fluorescent elements, and raised print, key security features of the official RM100 bill. However, the notes are not marked with the word “sample,” a standard designation on commemorative or non-circulating currency. 

While some listings claim these notes are “newly printed” and intended as commemorative art pieces for collection or display purposes, the lack of clarity surrounding their origin raises concerns. A customer service representative for one of the online platforms confirmed that the notes are not for circulation but declined to provide information on where the items are being manufactured. 

The ability to easily purchase these counterfeit notes at a low price raises questions about their potential to enter the market undetected, leading to potential risks for consumers and businesses alike. The absence of clear labelling or disclaimers increases the possibility that some buyers may unknowingly use these notes in everyday transactions. 

The Risks Of Counterfeit Currency 

Counterfeit currency has always been a concern for any economy, and Malaysia is no exception. With technology improving, counterfeiting methods have become increasingly sophisticated, making it harder for individuals to differentiate between real and fake notes. The sale of such counterfeit RM100 notes could result in financial losses for consumers and create confusion in the marketplace. 

As financial security is important, it’s essential to be vigilant when handling money and only deal with legitimate sources of currency. If you suspect you’ve received counterfeit money, it’s crucial to report it immediately to Bank Negara Malaysia (BNM). BNM provides clear guidelines on how to handle counterfeit notes, and you can also visit your local police station or bring the notes directly to BNM for verification. 

To help you identify fake currency, check out our comprehensive guide on spotting counterfeit money.

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• TAGS:
• BNM
• Counterfeit Money