Police Warn Of Counterfeit Bills In Circulation

Capital area police have issued a statement saying they have received numerous reports of counterfeit 5,000 ISK and 10,000 ISK notes and some euros being circulated. Investigations are reportedly underway.

Counterfeiters will typically attempt to launder this money by making small-time purchases with larger notes, thereby obfuscating the paper trail and making a tidy profit. The police consider regular cashiers to be the first line of defense against counterfeiting, and link to the Central Bank page on what Icelandic monetary notes are supposed to look like.

Counterfeiting is not an unknown phenomenon in this country. Regular reports come up about such notes being used, in particular in taxis, although then euros most often come into play.

The most recent report of counterfeit bills being circulated in Iceland turned out to be pretend euros labelled “СУВЕНИР”, which both means and is pronounced “souvenir”, as well as “НЕ ЯBЛЯETCЯ ППATEЖHЬIM CPEДCTBOM”, which roughly translates as “not legal tender”.

Note: Due to the effect the Coronavirus is having on tourism in Iceland, it’s become increasingly difficult for the Grapevine to survive. If you enjoy our content and want to help the Grapevine’s journalists do things like eat and pay rent, please consider joining our High Five Club.

You can also check out our shop, loaded with books, apparel and other cool merch, that you can buy and have delivered right to your door.