Circulation of fake banknotes on the Malawian market has scared the Asian business community in Mzuzu where police have arrested a 44 year old man for allegedly being found with fake currency amounting to MK126, 000.
Speaking to Malawi24 on Tuesday, Asian business people in the city stressed the need for urgent action saying fake currency is risky to their businesses.
“Although it is difficult to identify fake money, we can be arrested for being found with it even though we may have gotten it from our customers,” said one shop owner Muhammad Patel
Another shop owner Hannah Patel called on authorities to put an end to the fraud saying she fear business owners may fall victims.
“We mays sell things and get paid with fake banknotes as a result we will be unable to order goods again thereby failing our businesses,” said Hanna Patel.
The shop owners say fake currency is mostly being used at night since there is no sun light for people to use to verify the originality of the money.
Meanwhile, Malawi24 has learnt that the fake currency is being printed by fraudsters in Karonga who have a printing machine.
“Police must investigate those people who have that machine. I hear it’s with them in Karonga and they are planning to procure another one soon,’’ said our source who is a Tanzanian.
Malawi24 also understands that the most common fake banknotes that are on the market are K1, 000s.
Police have since arrested a yet to be identified man who was found in possession of fake money at a shop at Chiputula in Mzuzu city.
Mzuzu Police publicist Patrick Saulosi told our reporter that they are working around the clock sensitizing people.
“A sensitization campaign is in progress because we want people to be aware on how to differentiate fake money from the real one,” said Saulosi.