Two years ago, there was a video on the social media showing the difference between the real 20 Kuwait dinar and the fake note. The woman in the video placed the two notes under a UV light and it was clear for all to see the difference. The effect of this was to raise concerns about the safety of the Kuwaiti dinar and some people were even arrested for being involved in counterfeiting schemes. Kuwait's Central Bank, around the same period, addressed the issue of counterfeit currency by launching a new currency design with improved safety features.

Two years on and people have mostly forgotten this issue. A few weeks ago, a taxi driver made another video - which quickly circulated over the social media about being cheated by someone who paid him with a fake KD 20. The man was incensed and eventually he tore up the counterfeit note.

Counterfeiting is a major issue. Many countries, especially those with strong currencies, face this problem and it can have impacts on the stability and confidence in the currency. The problem is even worse for small business owners and those who deal mostly in cash. They rarely have the equipment accessible to check notes for authenticity and typically have no records of their customers. At the end of the day, taxi drivers, baqalas, small restaurants and other cash-only businesses often become key targets for counterfeiters seeking to break fakes into the market because they are more likely to go unchecked.

The most important question is how to distinguish between the real and fake currency? The current currency is not easy to be faked. Here are a few tips to check the authenticity: When you 'scrub' the paper with your finger, counterfeit colors may bleed, but in a real dinar the colors will not bleed. Also, be familiar with security features on the real currency and check for these features on the fake one. The more security features you know, the more likely you are to spot a counterfeit. Pay careful attention to the higher denominations, especially KD 20 as counterfeiters will often try to pass these off in order to get real money back as change. Visit the Central Bank website to learn more about the notes security features' and how to report counterfeits.

http://www.cbk.gov.kw/en/banknotes-and-coins/banknotes/sixth-issue.jsp

By Muna Al-Fuzai

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