Home South African Warning against use of dye-stained bank notes

Warning against use of dye-stained bank notes

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Picture: sarbcurrency.co.za

There has been an increase in the circulation of dye-stained notes following the recent civil unrest.

IN THE wake of the recent civil unrest, in which hundreds of automatic teller machines (ATMs) were destroyed, the South African Banking and Risk Information Centre (SABRIC) has warned against the use of dye-stained notes.

“ATMs hold cash in special containers that protect cash with dye-stain technology that is activated when someone tries to break open the container,” explained SABRIC chief executive Nischal Mewalall, who said there was a noticeable increase in the presence of dye-stained notes.

“Once activated, the cash is stained with a dye, thus defacing the notes, rendering them unusable as currency. The stained notes are recognised as having no monetary value once they are stained,” he said.

Mewalall said people who were in possession of such notes made themselves suspects in a criminal probe, as police would seek to determine if they were involved in the stealing and unauthorised access of these ATM containers.

“During the recent civil unrest in KwaZulu-Natal and Gauteng, hundreds of ATMs were destroyed, hampering the ability of bank customers to access cash and other financial services. SABRIC has noticed an increase in the attempted circulation of dye-stained notes in KZN and Gauteng, following the destruction of ATMs,” said Mewalall.

“The people of South Africa are cautioned against accepting these dye-stained notes as legal tender, as the onward use and value of these notes will not be honoured. You may also find yourself out of pocket after releasing goods or performing services because you will not be able to utilise the currency you were paid with. In addition, you also run the risk of being investigated, arrested, and prosecuted, for the destruction of these ATMs,” he added.

SABRIC said people should report any person, in possession of these notes, to the SAPS on 08600 10111.

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