Members of the public are being warned to watch out for counterfeit bank notes and scams encouraging people to divulge their financial details.

The latest scam involves cold callers from overseas who claim people have won a free or discounted vacation in return for a ‘credit card booking fee’.

The Bermuda Police Service is also warning residents to be on their guard against fraudsters ‘phishing’ for bank details on the Internet. Meanwhile, detectives say counterfeit currency is on the rise, with people using household inkjet printers to replicate hundreds of fake bank notes.

This year Police have seized more than $12,000 in bogus Bermudian bills, and detectives say the influx will only get worse as Christmas approaches. According to Police, passing off counterfeit notes is “an easy crime to commit”, as many go into circulation via nightclubs and other dark-lit places.

Those caught can expect a maximum jail term of ten years and a $10,000 fine, but it is the man in the street who ultimately suffers through rising prices.

Inspector Charlene Thompson of the Fraud Unit said Police seized “in excess of $5,000” in counterfeit notes during the last quarter alone.

* See tomorrow's Royal Gazette for the full story.