IstockAnalyst
ANTANANARIVO, Oct. 16, 2010 (Xinhua NewsAgency
) -- Fake euro notes of larger denomination are circulating on the black market in Antananarivo, the capital of Madagascar, the Indian Ocean island country's daily newspaper Midi reported on Saturday.
The fake involves the notes of 500, 200 and 100 euros and its very difficult for ordinary people to distinguish them. According to the Bureau de Change, the notes look exactly like the genuine ones.
It was reported that currency fraudsters were trying to sell off their fake products on the informal and black market to avoid being arrested.
In this regard, Madagascar's currency operators have asked the people to be more vigilant when doing any transaction using the euro. They have asked the people to either go to the Bureau de Change or to commercial banks since these institutions have specific materials for detecting fake currency notes.
The newspaper reported that euro notes of denomination 20, 10 and 5 have not been affected.
http://www.istockanalyst.com/article/viewiStockNews/articleid/4587632
ANTANANARIVO, Oct. 16, 2010 (Xinhua News
The fake involves the notes of 500, 200 and 100 euros and its very difficult for ordinary people to distinguish them. According to the Bureau de Change, the notes look exactly like the genuine ones.
It was reported that currency fraudsters were trying to sell off their fake products on the informal and black market to avoid being arrested.
In this regard, Madagascar's currency operators have asked the people to be more vigilant when doing any transaction using the euro. They have asked the people to either go to the Bureau de Change or to commercial banks since these institutions have specific materials for detecting fake currency notes.
The newspaper reported that euro notes of denomination 20, 10 and 5 have not been affected.
http://www.istockanalyst.com/article/viewiStockNews/articleid/4587632