National Bank of Cambodia takes action to combat counterfeit US Dollar bills

The National Bank of Cambodia (NBC) today issued an official announcement addressing the circulation of counterfeit US dollar bills in the country. As the use of both legitimate and fake US dollars increases, the NBC has called on financial institutions and the public to take immediate action to prevent the spread of counterfeit currency.

In collaboration with the US Secret Service, the NBC has outlined several key measures. First, banks and financial institutions are required to withdraw any counterfeit US dollar bills from circulation. These bills must be confiscated without compensation and reported to the US Secret Service for further investigation, along with a detailed report as instructed by the NBC.

Additionally, the NBC has mandated that banks and financial institutions retain records of customers involved in transactions with counterfeit bills. These records should be submitted to the National Bank of Cambodia for tracking and further action.

The NBC also urges the public to remain vigilant when accepting US dollar bills. Individuals are encouraged to carefully examine currency before accepting it and to report any suspected counterfeit bills to the National Bank of Cambodia.

Furthermore, the NBC recommends that financial institutions educate their customers on how to identify genuine US dollar bills as part of a broader effort to combat the use of fake currency.

The National Bank of Cambodia emphasises the importance of cooperation from all sectors—banks, financial institutions, and the public—in ensuring the effectiveness of these measures and preserving the integrity of the country’s financial system.