Photo by: Bloomberg
Following recent looting and acts of lawlessness that caused unrest in the country, the South African Reserve Bank (SARB) has cautioned the public not to accept stained banknotes, stating that these notes are considered as proceeds of crime.
Last week, protests against former President Jacob Zuma’s incarceration turned violent, with mass looting in parts of Gauteng and KwaZulu-Natal, as well as the destruction of infrastructure, such as factories, warehouses and automated teller machines (ATMs).
SARB explained that ATMs are designed to stain banknotes with blue or green ink in the event of an attack on the infrastructure. Stained banknotes will carry no value and cannot be exchanged.
The SARB strongly encourages the public not to accept such banknotes, and to report any incidents to the nearest police station.
“The South African Reserve Bank was established on 30 June 1921 to issue, distribute and destroy banknotes and coin. After 100 years of honouring this mandate, the SARB remains committed to ensuring that South Africans have confidence in the integrity of our cash,” it said.