On Wednesday, Police in Blantyre arrested three tricksters who wanted to purchase agricultural products from farmers using fake Malawi Currency.
Police identified the three suspects as Chancy Phiri who comes from Mchinji, Sam Sulumba of Zomba and Daniel Mussa whose home district is Mangochi.
Blantyre Police Public Relations Officer Beatrice Mwachande said the three tricksters were allegedly found in possession of K2 million in fake 500 kwachas, which is the country’s biggest bill.
She said the three will appear at Blantyre Magistrate Court on Friday to answer charges of possessing fake currencies.
The development comes a few weeks after the Reserve Bank of Malawi (RBM) issued a warning to Malawians of the proliferation of the counterfeit bank notes.
RBM Governor Dr Perks Ligoya warned the public that in accordance with the law, people found in possession of counterfeit notes may be imprisoned for seven years as its production undermines the integrity of the national currency.
“Production of counterfeit currency is considered as a serious crime because it brings distortions in the volume of currency in circulation and undermines the integrity of the Malawi currency,” said Ligoya in a statement placed in the country’s daily papers.
The central bank governor said they were making every effort in conjunction with the police law enforcement agencies to curb the malpractice and requested people to be vigilant and patriotic by reporting suspected counterfeit activity to RBM or police.
RBM has also put a K50 000 reward to anyone with information leading to the arrest and successful prosecution of suspects.
Recently, there has been wide circulation of K500 fake currencies and investigations have revealed that most of them are issued at entertainment events such as weddings, engagement parties, bridal showers, football matches, musical shows, among others where it is difficult to immediately validate its authenticity.