The Bank of the Lao PDR (BOL) has issued a warning to citizens about counterfeit banknotes of LAK 100,000 and LAK 50,000 denominations.
The bank said that it has been informed that counterfeit banknotes that have been photocopied onto plain paper and have fake security threads attached to them are now in circulation.
The bank has provided some tips for identifying counterfeit banknotes.
One way to tell if a banknote is counterfeit, according to BOL, is to shine a black light on it. The national symbol, the That Luang logo, the value numbers, and the Lao mark should glow under black light. If these features do not glow, the banknote is likely counterfeit.
Another way to identify a counterfeit banknote is to hold it up to the light and look for the watermark of former Lao president Kaysone Phomvihane. If the watermark is not present, the banknote is likely counterfeit.
Counterfeiting and using fake money is a crime according to Article 129 of the Criminal Code No. 26/SPC, dated 17 May 2017, and related laws.
The bank has urged citizens to report any counterfeit money or anyone using counterfeit money to the police or the Bank of Lao PDR and all commercial banks nationwide.