Fake Rs 5000 notes circulating in Karachi An alert has been issued to traders and consumers in various commercial centers of the city.

Local market sources have confirmed that several vendors in the busiest areas of the city have found high-quality fake notes during their daily transactions. The circulation of these fake notes has caused serious concern among small businessmen, as accepting a fake note means direct financial loss.

How are fake notes targeting the markets?

Counterfeiters are targeting places of commerce where cash transactions take place very quickly. These people are using high-quality duplicate notes that look and feel completely authentic, which makes these notes easily blend in at grocery stores, clothing stalls and mobile shops.

Traders say these notes are often issued during rush hours when staff are busy and it becomes difficult to scrutinize each note. Small shopkeepers are suffering huge losses in this way as a single fake 5000 note can wipe out their profits for several days.

How to recognize original 5000 note?

To protect yourself from this scam, you must learn to differentiate between genuine and fake notes. The State Bank of Pakistan (SBP) has added several advanced security features to the Rs 5000 note which are difficult to copy.

When you check the 5000 note, consider these things:

  • Watermark: Hold the note in front of the light. You should see a clear watermark of Quaid-e-Azam Muhammad Ali Jinnah in the white part of the note.
  • Security Thread: There is a vertical thread inside the note. In a real note, when you twist the note, its color will change.
  • Embossed print (Intaglio): Look at the image of Quaid-i-Azam and the numerals of the zodiac. On a real note these parts will feel raised and rough.
  • Colour Changing Ink: Some parts of the note, especially the digits of the money, should appear to change color when the note is shaken at different angles.

What to do if you find fake notes?

If you are a buyer and you suspect that you have been given a counterfeit note, or if you are a merchant and you recognize a counterfeit note, do not attempt to pass it to another person. Using fake currency is a serious offense under Pakistani law and can land you in legal trouble.

The correct procedure is:
1. Don't return the customer (for the merchant): If you feel that the customer has given a fake note, tell him calmly, but avoid a fight.
2. Record the incident: If possible, note the time, place and the person's attire.
3. Report to authorities: Immediately inform the nearest police station or bank branch.
4. Warn others: Warn other vendors through WhatsApp groups or associations of merchants in your area.

What's next?

In view of this situation, keep an eye on the official statements of State Bank of Pakistan (SBP). The central bank may issue new guidelines regarding new methods of counterfeiting. Besides, Sindh Police and related agencies can take action in major commercial areas like Saddar, Tariq Road and Nazimabad.

For now, the best defense is caution. Whenever making a large transaction, especially in the case of a 5000 note, always check the note thoroughly.