Suspect sought for money laundering found with R3,5-million in fake cash

A suspect sought for money laundering was arrested by the Tshwane Metro Police (TMPD) Tactical unit with R3,5-million in fake bank notes in Arcadia, Pretoria, on Friday.

It all started when the officers tracing a syndicate dealing in money laundering and counterfeit money were following a convoy of suspicious vehicles comprising of a red Range Rover, two Mercedes Benz had a Toyota Corolla.

Spokesperson Senior Superintendent Isaac Mahamba said the unit stopped and searched the red Range Rover on Arcadia Street and found a counterfeit R100 note.

He said upon further questioning, the driver led the officers to a property on Stanza Bopape Street where more fake money was kept.

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“At the premises, a steel box full of counterfeit money was discovered along with chemicals used to clean the money. The counterfeit money found amount to more than R3, 5-million. The officers also discovered that the name of the suspect matches the suspect who was sought for money laundering,” Mahamba said.

The suspect was then arrested for possession of counterfeit bank notes and will appear in court soon.

In terms of section 14 of the SARB Act, only the SA Reserve Bank (SARB) has the right to issue banknotes and coin in South Africa. Any reproduction of banknote images – even for artistic or advertising uses – is strictly forbidden.

Counterfeit currency are imitation notes or coin produced without the legal sanction of the SARB. Counterfeiting currency and the possession thereof are crimes.

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By law, counterfeit notes found in circulation cannot be exchanged for cash, as they have no value. To confirm the validity of a banknote, the approach of Look, Feel and Tilt can be used.

The SARB, the police and the commercial banks work together to combat the counterfeiting of banknotes and coin.

Last August Gauteng police arrested two women aged 57 and 58 and two men aged 36 and 48 found in possession of counterfeit money with an estimated value of R2-million in Auckland Park, Johannesburg.

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Police on intelligence driven operation were responding to information about individuals in possession of counterfeit money and planning to commit crime.