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The Resident Office for the Eastern Caribbean Central Bank has advised against public panic due to reports of counterfeit notes in circulation here.

The claims were reported to Radio Caribbean International this morning suggesting that fifty dollar counterfeit notes with the same serial number are being circulated.

An official from the regional financial body says while counterfeit notes are discovered from time to time, the banks have not been alerted about any new cases or unusual activity.

The ECCB official stressed that the organization has only been informed of one counterfeit fifty dollar bill from one local bank.

The official notes that banks and financial agencies take these reports seriously and continuously urge businesses and the public to remain alert when trading.

The public has been reminded of its responsibility to familiarize themselves with the security features of local and foreign bills in order to avoid financial losses.

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