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Police bust Gabane fake currency gang

Wednesday, July 26, 2023 | 1980 Views |

Bank of Botswana chief financial officer, Daniel Loeto, says a group of 12 young Batswana were recently arrested in Gabane with counterfeiting equipment.

The gang is believed to be responsible for a surge in fake notes this year, where the Bank picked a staggering 3,214 counterfeits between January and June, compared to 917 for whole of last year. The most affected currency is the P200 notes. "In April, there was a report in the Francistown and Tonota policing area of 3,196 counterfeit P200 notes. "The investigations revealed that the production house is around Gabane at a genuine business, a stationary business, and the police raided the business and confiscated the equipment from there," Loeto said.

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Police bust Gabane fake currency gang

Bank of Botswana chief financial officer, Daniel Loeto, says a group of 12 young Batswana were recently arrested in Gabane with counterfeiting equipment.

Human rights are sacred

Bakgatla Ba Kgafela celebrate as Kgosi Kgafela’s charges are dropped

First Lady's office hosts second annual thanks giving ceremony

PSLE performance on upward trend

Bona Life tee-off Maruapula Loxion Golf journey

Cops arrest young man, seize dagga in Metsimotlhabe

Second Mogoditshane rape attack in two weeks

Suspected suicide behind Sir Seretse Khama Barracks

Human rights are sacred