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Tuesday, June 18, 2024

Lao Central Bank Warns Over Fake Kip Banknotes

This Week

The Bank of the Lao PDR has issued a warning about fake kip banknotes after a significant number of such notes were found in Khammouane Province.

The central bank informed the public on February 17 about the circulation of fake 50,000 kip notes, advising everyone to be aware of the situation and pay close attention to the notes, Vientiane Times reported.

Counterfeit Bank Notes

Vientiane Times quoted an official at the BOL as saying that the bank had found that a business operator had made photocopies of banknotes and used them to pay his employees after the Hinboun District authorities seized 27 counterfeit 50,000 kip notes.

It is unclear yet how many fake notes were created by the business owner.

Suspected cases can be reported to the BOL by calling phone number 021-213119.

Under criminal law, anyone found forging or using counterfeit banknotes is subject to a jail term of 5 to 15 years and a fine of LAK 10 million to 150 million.

See this Laotian Times guide for more information on how to tell the difference between real and fake banknotes.

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