(MENAFN) The Bank of the Lao PDR (BOL), Laos' central bank, has issued a public warning regarding the circulation of counterfeit banknotes, urging citizens to exercise caution. This cautionary notice comes in response to reports of counterfeit 50,000-kip notes from the 2004 edition being discovered in the northern region of the country, as reported by Lao national TV on Tuesday. In light of this concerning development, the BOL is urging vigilance among the populace and emphasizing the importance of identifying and reporting any suspicious instances of counterfeit currency.
In its notice, the BOL has encouraged individuals to remain vigilant and report any encounters with counterfeit banknotes to the appropriate authorities promptly. Citizens are urged to utilize the reporting mechanisms available at various commercial banks across the country to notify authorities of any instances of forged currency they come across. By fostering a collaborative approach between the public and financial institutions, the central bank aims to mitigate the circulation of counterfeit currency and safeguard the integrity of the nation's financial system.
Moreover, the BOL is actively collaborating with relevant authorities to swiftly implement measures outlined in Laos' laws to address the issue of counterfeit currency circulation. The central bank is committed to taking decisive action against individuals involved in the illicit production and dissemination of counterfeit banknotes, in accordance with legal provisions. By mobilizing efforts to combat counterfeit currency, the BOL aims to uphold financial security and stability while ensuring the protection of citizens' interests in Laos.
MENAFN30042024000045015839ID1108155256
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.