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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.