Upswing in counterfeit currency, drugs in Yemen [Archives:2006/953/Business & Economy]

Security forces are investigating the current explosion in the number of forgery cases which have created a sense of suspicion in the local Yemeni market. The number of uncovered forgeries have dramatically increased in the last two months, reflecting a high level of professional skill in the printing of counterfeit currency.

Alarmingly, officials have connected various forgery cases as the style and tactics employed are almost identical, resulting in the conclusion that forgers have developed small networks of organized criminals to manufacture and leak counterfeit currency into the marketplace. The most recent incident uncovered was a few of days ago in the city of Hajja, where counterfeit money was used to purchase gold from an elderly jewelry retailer worth over YR 200,000.

In a related development, a stock of bogus pharmaceuticals was captured in a storage facility in the Sana'a. The imitation drugs were on their way to be sold under fake brand names. Security forces have since arrested the owner of the goods, who indicated that he was “one of many” who undertake such illegal activity in the manufacture and sale of imitation drugs, claiming that the stagnating market conditions forced him to do so in order to stay solvent.

Additionally, 17 food retailers are under investigation in Sana'a for the overweighing of foods being sold including sugar, flour, and rice. The illegal practice was detected through a random sampling routine of food retailers as a part of a nation-wide inspection program instituted by the Consumer Protection Agency. The agency has also reported that stocks of expired consumer goods have been relabeled and repacked to indicate a false expiration date.

The recent surge in forging indicates that the local market needs a stricter monitoring mechanism and increased enforcement of existing legislation in order to eliminate organized forgery and the retailers who buy their illegal products.
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