BASSETERRE, St. Kitts – THE Eastern Central Bank has informed that despite the find of a counterfeit EC$20 note in Grenada, there is presently no counterfeiting issue within the Eastern Caribbean territories.
The reminder was given by Deputy Director of the Currency Management Department at the Eastern Caribbean Central Bank Rosbert Humphrey after a website – www.news794.com – published information on Tuesday (Jan. 17) suggesting that the ECCB had advised that counterfeiting of the EC$20 note might have taken place.
The article which was first headlined “ECCB says lookout for fake $20 bill” indicated that the Royal Grenada Police Force, in a press release, was advising residents of that territory to keep their eyes peeled for an EC$20 note with the serial number LU259878.
SKNVibes noted that the headline of that article was subsequently changed to “Fake 20 Dollar Bill’s Circulating in Grenada”.
The article also explained that “Vincentians are being asked to be on guard against fake 20 dollars bills that could make its way here shortly from the neighbouring island of Grenada”.
SKNVibes questioned Humphrey about whether or not the ECCB had issued an advisory concerning this, as the headline of the article suggested, and whether or not there is cause for concern within the Eastern Caribbean States relative to counterfeiting. He said the ECCB had issued no such advisory.
“We do not have a situation in St. Vincent and the Grenadines, we do not have a situation in Grenada either. As a matter of fact, confirmation with the police in Grenada revealed that there was only one $20 counterfeit note reported and we do not know on what basis the publication was issued but we are still trying to follow-up to see what information we can gather from them and who actually…issued that press release.
“Because press releases in regards to…currency should be disseminated by the ECCB so we are still trying to ascertain where the information actually came from. It is just one counterfeit as far as we know, as far as we understand.”
Humphrey repeatedly assured that as far as the ECCB is aware, there is no counterfeiting issue within the two territories mentioned above nor in the other Eastern Caribbean states.
“So there is no counterfeiting issue in St. Vincent and the Grenadines, as a matter of fact based on the info we have, there is no need for concern, there is not a counterfeiting issue that you just indicated…
He said when the article was brought to their attention, moves were made to speak with a representative from Grenada to see if information to that effect had been had. He said the representative responded in the negative and advised that information would be sought of the police.
“This is a problem that we actually have throughout the OECS; publications with regard to our currency have been…disseminated and the ECCB and its affiliates don’t have any information or know anything about it and no confirmation from us.
“But we still doing our investigations, we are trying to get more information in this regard to see where the information would have actually emanated from. But that’s the information we have so far. There is no need for alarm…there is no need for concern… For right now, we have no other reported cases apart from that one $20 note in Grenada.”
The Deputy Director reminded that the Eastern Caribbean Central Bank is the sole authority which initiates dissemination of information on issues with or changes to the EC dollar.
