A scam has been un earthed in which criminals involved in printing of couterfeit money are conniving with commercial banks to launder money.
Two Commercial banks have so far been involved. Once the criminals print the fake money, they contact accomplinces incharge of Automated Teller Machines (ATM).
They give them the fake money and exchange with genuine money. The fake money is mixed with genuine money and put in ATM’s.
To prove this, it happened to Mr. Malcom Harrington. Sometime in July 2017, he withdrew money fron Barclays Manda Hill ATM to deposit in somebody’s account at Stanbic. Mr. Harrington was shocked when the teller told him one of his K100 notes was fake.
He lodged a complaint at Barclays Manda Hill. Later after internal investigations, Barclays Bank Zambia confirmed that indeed its ATM dispensed a fake note.
Just two weeks ago, the Zambia Police in Northwestern Province announced the arrest of a Kansanshi Mining employee in Solwezi who was found with K2.5million fake money which he was about to exchange with real money at Zanaco bank in Solwezi. See attached copies of correspondence between Barclays Bank and Mr. Harrington.