Author Topic: Dominican Republic: Deffective 2000 Peso Banknotes Stolen from Printer  (Read 1244 times)

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Offline Bimat

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Dominican Republic seeks damages after printer loses 8,500 banknotes

Defective banknotes worth an estimated 17 million Dominican pesos disappeared from French contractor in July; detected in the Caribbean country earlier this month, central bank says.

Author: Central Banking Newsdesk
Source: Central Banking | 11 Nov 2013

The Central Bank of the Dominican Republic has said that French banknote printer Oberthur Fiduciaire "must answer for damages that may result" from the loss of defective banknotes worth 17 million Dominican pesos ($400,000) that have begun to appear in circulation.

The banknotes have surfaced in the Dominican Republic and France, after they were stolen from Oberthur Fiduciaire, a French printer under contract with the Central Bank of the Dominican Republic.

The banknotes, denominated at 2,000 pesos ($46.41), disappeared from an Oberthur Fiduciaire factory in July, but did not surface in the Dominican Republic until November 1, a manager at the central bank said on Friday, adding the institution was working with law enforcement to address the issue and identify "potential accomplices" in the country.

According to the central bank, 287 notes had been recovered in the Dominican Republic as of late last week. French police, meanwhile, have recovered 2,336 notes. More than 6,000 notes remain missing.

The illegal banknotes were deemed "oversized", but vanished before Oberthur Fiduciaire had a chance to destroy them, the central bank said. It added the company had been notified it "must answer for damages that may result from this process".

Individuals and entities that have received the fraudulent notes will be able to switch them for authentic bills at select branches in Santo Domingo and Santiago, said the central bank, adding "the replacement cost will also be borne by the manufacturer".

The easiest way to determine a 2,000 peso note's authenticity is to look at what year it was issued. Fake notes are from 2013, whereas real ones are not. "All other [bills] are valid... as well as those of other denominations that have already been issued or will be issued this year," the central bank said.

Source: Central Banking
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Offline Ukrainii Pyat

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Re: Dominican Republic: Deffective 2000 Peso Banknotes Stolen from Printer
« Reply #1 on: November 12, 2013, 12:34:27 PM »
Has to be inside job, in printer.
Донецк Украина Donets'k Ukraine