Close
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: Money Talks: Sometimes it Lies
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.


 
UBUD WRITERS & READERS FESTIVAL
 
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
Harambee, Buana! Harambee!
Hat-trick Win for Kenyan Kennedy Kiproo Lilan on His 3rd Win of BII Maybank Bali Marathon
(9/14/2014)
Holiday of No Return
Suicide Suspected in Death of 31-Year-Old Australian at a Kuta Hotel
(9/13/2014)
Roller Coaster Effect
Bali Hindu Support a Mass Transit Rail System that Honors Local Sensitivities
(9/13/2014)
Climb Every Other Mountain
Bali's Mount Agung Closed to Hikers Until November 21, 2014
(9/13/2014)
We Have a Search Warrant!
Prosecutors Raid Bali Airport Offices Seeking Evidence in Ongoing Corruption Investigation
(9/12/2014)
Bali & Beyond Travel Fair 2015
2nd Bali and Beyond Travel Fair Returns to Bali June 10-14, 2015
(9/12/2014)
Have Lunch with Bali's Best Chefs
Bali Culinary Professionals September Lunch - a Bavarian Affair at Discovery Kartika Plaza Hotel on Saturday, September 27, 2014
(9/12/2014)
Thai-Style Hospitality Comes to Bali
Centara Hotel and Resorts Opens 14-Villa Property at Nusa Dua, Bali
(9/12/2014)
Service Included
Airport Service Charge to be Included in Cost of Domestic Tickets Traveling form Bali's Airport
(9/12/2014)
Waldorf . . . .Make it a Double
Bali to Be Home to Two Waldorf Astorias
(9/12/2014)
Monumental Exports
29.09% drop in Exported Wooden Statues from Bali in January-July 2014
(9/12/2014)
TV Dinners
CNNgo Names Six 'Must Eat' Dishes for a Balinese Holiday
(9/13/2014)
All [News]!
 
Tourism and Transport Tourism Agents