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Israel Seeks Compensation from Counterfeiters

Categories : Cash is a public good, Cash is trust
May 29, 2018
Published in : Counterfeiting, Criminality, Israel
First of a kind, Israel sues two criminals convicted of counterfeiting tens of thousands 200 shekel notes.
Communication Team

In a first lawsuit of its kind, The Bank of Israel – Israel’s central bank – sued two criminals convicted of counterfeiting tens of thousands of 200 shekel notes. The Bank is seeking a 400,000 shekel-worth compensation (equal to USD $111,000) arguing that their criminal activity violated the Bank’s copyrights and attempted to undermine the public’s trust in the currency.

The criminals have already been charged with a jail sentence and a significant fine, but the bank considers that it’s entitled to a compensation as in any other civil suit.

Israel’s new shekel series is equipped with some of the latest and most advanced security technologies in the world and the Bank confirms that the criminals were unable to reproduce them.

Through this civil lawsuit, The Bank of Israel hopes to deter any future counterfeiters from producing and distributing fake notes.