Stop counterfeits

Sun, 17 Sep 2017 09:59:31 +0000

THE problem of counterfeit bank notes needs to be urgently nipped in the bud once and for all because it has the potential to destroy our economy if left unchecked.

Police and other security wings have undoubtedly been grappling with this problem for a long time now yet despite countless arrests and stiff penalties being meted on the culprits, this problem relentlessly continues to haunt the nation.

Clearly there is need for the Drug Enforcement Agency (DEC) and other law enforcement wings including the Bank of Zambia to put their heads together to come up with a permanent and tangible solution that will ensure production and circulation of fake kwacha notes is halted for good.

It seems merely prosecuting and throwing the culprits behind bars is not working considering that this problem has persisted beyond alarming levels – it is deep rooted.

While we appreciate the wonderful efforts by our security wings in the past to curb counterfeiting which is capable of distorting the economy, we are left to wonder why this evil is still a nagging challenge in our country.

Could it be that are our security agencies are missing out something, say crucial information which could lead them to trail the masterminds to their lairs?  It is unfortunate that our law enforcement agencies appear to have failed lamentably to solve this puzzle.

The nation needs an explanation because we believe by now our security wings know where the illegal money-making dens are judging by the numerous number of cases they have successfully investigated and prosecuted in the past.

Isn’t it baffling that despite, the stringent measures government has instituted through Bank of Zambia and other banking institutions to curb the problem, the notes continue circulating in our economy?

Right now there fears that our currency has extensively been counterfeited and if not solved the problem could seriously cause financial losses to the people. Even worse unsuspecting members of the public and business could end up victims of crimes they don’t know about.

We therefore totally agree with the Movement for National Transformation president Mr Daniel Shimunza that DEC should track the counterfeit money trail and curtail the problem once and for all.

We also agree with Mr Shimunza that there is need for preventive measures to be implemented as opposed to waiting for the problem to occur then react afterwards. After all prevention is better than cure.

Last week a Zambia army officer and five others were caught with a total with K500, 000, counterfeit notes. The officer was found with K400, 000 while the five found with K100, 000 banks notes.

 We therefore urge the business community and unsuspecting members of the public to scrutinise bank notes when involved in business transactions to avoid being arrested for a crime they did not commit.

Over and above we strongly believe our law enforcement officers are in dire need of advanced training in line with the latest trends of fighting counterfeiting if this problem is to nipped in the bud.