Friday March 31, 2023
The men were discovered carrying bundles of darkened counterfeit bills. PHOTO/ SONNA
Bosaso (HOL) - The Puntland Police Force arrested several men on Thursday after finding a substantial amount of counterfeit money in their possession. The individuals are suspected of having ties to a criminal network and were apprehended while attempting to enter Bosaso, the bustling commercial center of the Puntland regional state.
Puntland regional police said that the men travelled from Hafun, a coastal town in the Bari region known for its thriving fishing industry. During a search, officers discovered bundles of "blackened Euro notes" that had been ingeniously concealed to evade detection. The fake currency was meant for circulation in the local market, potentially jeopardizing the region's fragile economy.
This incident is not the first instance of counterfeit money scandals in Somalia. In August 2016, a bank teller at Somalia's central bank
reportedly stole USD$530,000, substituting legitimate US dollar notes with counterfeit bills. In February 2021, Somaliland's Central Bank identified counterfeit currency notes in circulation, primarily $50 bills. Most recently, in September 2021, authorities in Somaliland
arrested a criminal network of six men, including five Nigerians, involved in producing counterfeit money.