Experts Criticize the Lack of Strict Laws Against Currency Counterfeiting

Sudan Events – Rehab Abdullah

Experts have warned of the dangers of currency counterfeiting and expressed concern over the quick attempt to counterfeit the new 1,000-pound note, after the police in the River Nile State foiled the first attempt in a neighborhood in Atbara city.

Banking expert Walid Daleel attributed the increasing attempts to counterfeit currency to the advancement of printing technology, which has helped international criminal gangs improve their counterfeiting methods. He added that some printers have capabilities to deceive through optical illusions in currency printing, stressing the need for strict monitoring of printer imports.

Economist Haytham Fathi pointed out that the rise in currency counterfeiting in Sudan is due to the lack of deterrent laws, which allows criminals to engage in currency fraud. He emphasized that counterfeiting is as serious as treason, as it is a national security issue, just like espionage and treason.

Economist Abdulwahab Jumaa suggested that the solution lies in strengthening digital banking services, linking banking applications, and innovating and expanding digital payment products. He confirmed that over time, this would reduce the reliance on cash, thus breaking the cycle of “cash-counterfeiting issues,” after which legal and security solutions would bring the issue to an end.