A banking industry body has warned South Africans that possession of dye-stained bank notes looted from ATMs in this week’s political-inspired anarchy could land them in serious trouble.
The South African Banking Risk Information Centre (Sabric) said in a statement on Friday that hundreds of ATMs were destroyed in the violence and looting that took place in KwaZulu-Natal and Gauteng, hampering the ability of bank customers to access cash and other financial services.
South African Reserve Bank
ATMs are an essential part of our country’s economic infrastructure, providing vital services
to our communities.
During the recent civil unrest in KwaZulu-Natal and Gauteng, hundreds of ATMs were
destroyed, hampering the ability of bank customers to access cash and other financial
services.
ATMs hold cash in special containers that protect cash with dye-stain technology that is
activated when someone tries to break open the container. Once activated, the cash is
stained with a green dye, thus defacing the notes, rendering them unusable as currency.
The stained notes are recognised as having no monetary value once they are stained.
People who are in possession of these notes make themselves suspects of a criminal
investigation that will seek to determine if they were involved in the stealing and
unauthorised access of these ATM containers.
SABRIC has noticed an increase in the attempted circulation of dye-stained notes in
KwaZulu-Natal and Gauteng, following the destruction of multiple ATMs.
The people of South Africa are cautioned against accepting these dye-stained notes as legal
tender as the onward use and value of these notes will not be honored.
SABRIC CEO Nischal Mewalall said: “You may also find yourself out of pocket after releasing
goods or performing services because you will not be able to utilise the currency you were
paid with. In addition, you also run the risk of being investigated, arrested, and prosecuted
for the destruction of these ATMs.”
SABRIC therefore encourages people not to transact using dye-stained notes and report any person in possession of these notes to the South African Police Service on 0860 010 111.
