Traders warned against conmen dealing in fake US dollars

Kampala, Uganda | THE INDEPENDENT | The police have warned traders including the general public to be extra vigilant to avoid falling victim to conmen dealing in fake US dollars.

Fred Enanga, the police spokesperson said they have noticed that traders are being hoodwinked by conmen who have since spread to upcountry towns after their criminal activities were minimized in Kampala.

Enanga said conmen own the traders’ trust by first giving them genuine US dollars in notes of $50 or $100. Police explain that once the trader exchanges the first and second dollar notes, they become very excited and believe they could make a fortune from foreign exchange.

The conmen convince the traders that they need to buy the dollars in bulk in order to make huge profits. It is at that moment some traders invest all their savings or business capital in buying dollars but later learn they were dealing with fraudsters.

Although such tricks seem to be old-fashioned, Enanga said many traders are still falling victim especially those in upcountry towns among others Mbale town. Traders according to police are convinced by conmen to travel to places distant from town and it is where they exchange their genuine money with dollar counterfeits.

“Traders are being duped with black dollars which were phased out longtime ago. These tricks are not new but our people have failed to learn. The fake dollar fraudsters were hunted in Kampala and they are now targeting upcountry traders,” Enanga said.

Police have so far arrested 36 suspects across the country who have been conning traders with counterfeited dollars. These were arrested from Mbale, Kamuli, and Jinja. Before they shifted to upcountry places, foreign counterfeits dealers were based in Najjanankumbi, Katwe, Kajjansi, and Namasuba along Entebbe road.

Some of the fake dollar dealers who were arrested by police last year include Lemon Ndegye and his wife Stella Namanya who were circulating notes valued at more than 30 million shillings. The couple had a home in Kisaasi, Kawempe division of Kampala.

The Criminal Investigation Directorate (CID) has slapped the 36 suspects so far arrested over fake money with charges of being in possession of counterfeited money, duplicating currencies, and fraud. It is reported in Busoga and Bugisu, police have recorded over 40 cases of traders who have fallen victim.

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