URA seizes fake Ugandan shillings worth 41 Million

The Uganda Revenue Authority (URA) has impounded various denominations of fake Ugandan shillings at the Busia border town.

According to customs officials at the border, the hard cash in denominations of 5000 and 10000 shillings was confiscated on Sunday, wrapped in a suspicious looking package aboard a Modern Coast Bus Registration number KDA 155X.

The package was reportedly declared but not passed through the customs unit for verification.

“It had been declared but later manually crossed out, we first thought it was only an offense of failure to declare cash, but while counting, the notes looked a little odd. This is when we sought assistance from a bank whose hi-tech machine confirmed that the money was fake,” said an official

URA seizes fake Ugandan shillings worth 41 Million

Three suspects have since been arrested and the bus impounded.

The law on prohibited goods provides for a fine of 50 percent of the value of items and in the case of counterfeit notes, the penalty is imprisonment for the suspect.

Similarly, Section 199 of the East African Community Customs Management Act sets a fine of not more than 5,000 dollars (about 18.5 million shillings) for such means of transportation, in this case, the Modern Coast bus.

URA seizes fake Ugandan shillings worth 41 Million