BI: Counterfeit Money Circulation Continues To Decrease

Illustration. (Photo: Doc. Antara)

JAKARTA - Deputy Governor of Bank Indonesia (BI) Doni Primanto Joewono said the circulation of counterfeit money continues to decline in Indonesia.

"In 2019, there were 9 PPM (Parts Per Million). In one million pieces there were 9 counterfeit bills in 2019. Then in 2020-2023 it fell to 5 pieces on one million pieces and actually in 2024 there were only 2 pieces on one million shares., "said Doni in Jakarta, quoted from Antara, Friday, June 21.

In the Announcement of the results of the BI Board of Governors Meeting in June 2024, he said the decline in the circulation of counterfeit money in the country was due to cooperation between all parties to prevent counterfeit money from circulating.

"Of course this is a good cooperation. Once again, we appreciate all parties and of course we will provide money with sufficient denominations and nominal value and what we do also reaches remote areas so that people are not deceived by counterfeit money," he said.

In addition, Doni said BI appreciated the disclosure of counterfeit money by the Indonesian Police (Polri).

Polda Metro Jaya stated that counterfeit money worth Rp22 billion printed at an accountant's office in the Srengseng area, Kembangan, West Jakarta, had not been circulated to the public.

"We at Bank Indonesia certainly appreciate every disclosure of counterfeit money which is of course carried out by the Police as a form of law enforcement for criminal acts against the rupiah, in particular we appreciate the Polda Metro Jaya," said Doni.

He said Indonesia has a Counterfeit Rupiah Eradication Coordinating Board (Botasupal), which is a non-structural institution based below and responsible to the President. Botasupal has a function as a coordinator for the eradication of counterfeit rupiah.

Botasupal elements consist of the State Intelligence Agency, the Indonesian National Police, the Attorney General's Office, the Ministry of Finance, and Bank Indonesia.

In BI, there is a Bank Indonesia Counterfeit Analysis Center (BI-CAC) which will analyze counterfeit rupiah.

"After finding counterfeit money, everything will be handed over to BI for inspection at BI-CAC," he said.