Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Money Talks: Sometimes it Lies
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Money Talks: Sometimes it Lies

Bank Indonesia and Bali Police Combine Forces to Curb the Circulation of Counterfeit Money.


Bali News: Bali, Indonesia, counterfeit money
Click Image to Enlarge

(4/23/2011)

Bank Indonesia is expressing concern at the growing amount of counterfeit Indonesian currency  in Bali. According to Bank officials cited by Kompas.com, the amount of bogus rupiah bills in circulation has increased from 1,800 bills in 2005 to 2,800 bills in 2010, an increase of 55%.

Fears have been expressed that Bali may be experiencing a surge in high quality illegal tender following a recent raid by Bali police that uncovered a syndicate that had in their possession Rp. 50 million (US$5,500) in counterfeit money – all in Rp. 100,000 bills.

Adding to law enforcement sources they are concerned that the quality of counterfeit money circulating in traditional markets is "near perfect" and almost indistinguishable from genuine legal tender. The illegal tender manages to closely duplicate paper quality, watermarks and security threads that distinguishes  genuine rupiah notes. The only indication noticeable to most users is that the fake Indonesian bills all bear identical serial numbers.

The chief of Bank Indonesia in Bali, Jeffrey Kahuripan, told the press: "The counterfeiting of money in Bali is trending upwards. If this is not controlled, this will result internationally in negative press and a loss of public confidence in the rupiah as a currency."

A joint team of police and Bank officials has been established to help enlist public support in limiting the use of counterfeit currency in Bali.

Bank Indonesia is also coordinating the Indonesian police and prosecutors to deter counterfeiting by seeking maximum penalties for those caught involved in the passage of bogus money.

Nationwide Indonesian police estimate the amount of counterfeit currency in circulation has a face value of Rp. 14.2 billion (US$1.6 million). Of the 177 cases of counterfeiting handled nationally by the police in the past year, 13 cases (7.4%) took place in Bali.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
A Declaration of War?
Indonesian Tourism Minister Leads Charge to Achieve More Foreign Tourism Visitors than Thailand, Malaysia and Singapore
(9/30/2016)
Can You Hear my Fingers?
Bali to Host Pageant to Pick Male and Female Deaf Ambassador On Saturday, October 29, 2016
(9/30/2016)
A Lasting Gift for Yourself or a Friend!
One-Day Massage Training Course Now Available from Jari Menari
(9/30/2016)
Hip-Hip Hooray For Prego’s Birthday!
Prego at The Westin Resort Nusa Dua, Bali Celebrates Its Third Anniversary on October 9, 2016
(9/30/2016)
Keeping Business Afloat!
Denpasar Inaugurates Floating Market on Badung River at Pemogan
(9/30/2016)
An Eruption with Limited Impact
Single Eruption of Volcanic Mount Barujari on Tuesday, September 27, 2016, Causes Spate of Flight Cancellations to Bali
(9/30/2016)
Larger than Lady Liberty
Garuda Wisnu Kencana Monument Park to Open in 2018
(9/30/2016)
Prisons as Narcotics Hubs in Bali?
Police Arrest Airport Security Worker with Methamphetamines. Drug Arrests Linked to Network Headquartered at Bali Prisons
(9/30/2016)
And They’re Off!
Join the Melbourne Cup Celebrations in Bali on Tuesday, November 1, 2016
(9/30/2016)
Women of Bali Helping Their Island Neighbors
Bali International Women’s Association Annual Charity Bazaar Saturday, October 30, 2016
(9/30/2016)
What’s New in Ubud?
Renewed Alaya Resort Ubud and Manisan Restaurant Now Open for Business
(9/25/2016)
Return to Sender
Singaporean Arrested Trying to Smuggle Drugs Through Bali’s Postal System
(9/25/2016)
All [News]!