DHAKA: Bangladesh Bank and other commercial banks lack necessary equipment to detect counterfeit foreign currencies, particularly the dollar, which leaves a chance for swindlers to cheat the commoners with fake notes.

Organised gangs of forgers take the chance, resulting in an increase of transactions of counterfeit dollar bamboozling the unsuspecting common man.

At this moment, all nationalized and private commercial banks, including the central bank, handle foreign currencies without counterfeit currency detectors.

Only a few multinational and foreign banks do have the facility.

A central bank source said transactions in fake dollars are on the rise in the country. Taking the opportunity, some rackets have spread their tentacles to deceive people.

Talking to banglanews24.com.bd, Executive Director of Bangladesh Bank Asim Das Gupta said, “The central bank does not have any function with dollar exchange or transaction. So, we did not need such equipment so far. If we install software, we can detect the counterfeit dollar.”

He said the commercial banks should examine dollars as they buy and sell the greenback. The clients should check the foreign currencies before purchasing.
    
Recently, a high official of Power, Energy and Mineral Resources Ministry got into trouble with “fake dollars”.

The official bought US dollars from Janata Bank Baitul Mukarram branch for an overseas official trip. “As I went for exchange, the bank officials said the dollars were counterfeit,” the official said.  

The bank kept the photocopy of the dollars and suggested the official to take necessary steps in this regard after returning home.

Back home, the Janata Bank officials disagreed with the bank abroad and said the currencies were not fake.

BDST: 11:47 HRS, AUG 6, 2010.