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In some disturbing news this morning, police in the Elgon sub-region is investigating circumstances under which fake notes amounting to over Shs500m were found in the vault of the government owned post Bank at Mbale Branch.
The incident has since elicited mixed reactions among the residents and customers who bank with the Mbale Branch of post bank raising fears that the bank could be issuing fake notes to it’s clients and inside cartels dealing in counterfeit cash.
As the practice is, a vault is a secure room the bank’s cash and even important documents and police’s wide probe has since led to the arrest of some staff to aid in the investigations according to the bank’s head of marketing and communications Ms Akora Priscila.
Bank Staff who spoke to Monitor on condition of anonymity reveal that hell broke lose when one of the bank staff pulled out a bundle of cash from the vault and brought it to the counter and resultantly the authenticity of the cash was questioned. These say the counterfeit cash was in bundles of Shs50,000.
Speaking about the incident, Elgon Region’s Police Spokesperson confirmed the same and said the case is still under investigation and is before the courts of law to determine whether it’s customers to deposited the said cash or a cartel inside the bank is dealing in counterfeit.
“The bank officials, after discovering the counterfeit money, reported the case and investigations are ongoing. Each bundle had genuine notes covering the fake notes. There’s a loss of money worthy Shs500m or more”-Taitika Revealed
SOURCE: Monitor
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