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Saturday, January 28, 2023
HomeNewsArchivesCounterfeit Bills Are Circulating in the Territory

Counterfeit Bills Are Circulating in the Territory

Lt. Gov. Gregory R. Francis alerts Virgin Islanders that counterfeit bills are once again circulating in the territory after receiving reports from local bank officials of an unusually high volume of counterfeit bills being identified in the St. Thomas district. According to bank officials, all of the counterfeit bills that have been identified are ten dollar ($10) bills, bearing the serial numbers JB 20021640 B and JD25565089 A, according to a press release issued Thursday by the Division of Banking and Insurance.
“At the most basic level, counterfeit bills are an effort to defraud someone in a legitimate transaction,” said Lt. Gov. Francis. “In order to safeguard our financial well-being, we must take extra measures in our financial transactions.” Bank officials have indicated that the counterfeit bills have been received primarily in commercial deposits from fast food chains, supermarkets and gas stations.
Francis urges consumers to pay attention to the money they exchange in a financial transaction. Counterfeit bills may look or feel different from a real bill. Genuine bills contain a security thread that will have the denomination printed on it from top to bottom which can be viewed by holding the bill up to a light.
Francis reminds residents who find themselves to be in possession of counterfeit bills to turn them over to police.

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