Police have warned the public to be careful with their transactions, particularly if using foreign currency.
This follows Monday’s discovery of 93,790 Russian rubles (worth about 1, 200 euro) that were found to be forged.
A woman has been remanded in custody as police investigate forgery and attempt to secure money under false pretences.
In a written announcement police said that although it is believed that the recent discovery of forged notes was a one-off incident, the public is urged to be particularly careful with transactions in foreign currency.
“Special caution is also recommended when transactions or purchases are made with notes of a large denomination, whether in euro or in a foreign currency, whereas any currency exchange should be done at a licensed institution,” police said.
Should anything suspicious come to the attention of the public they should contact the citizen’s help line on 1460.
Police said that the correct steps taken by bank employees at a Paphos bank branch had helped in the discovery of the forged notes.
The suspect had gone there asking to exchange 30,000 rubles — 20 notes of 1000 rubles and 20 notes of 500 rubles.
Bank employees became suspicious while counting and checking the authenticity of the notes and contacted police.
Police went to the bank and also searched the woman’s house where they found another 35 notes of 1000 rubles and 57 of 500 rubles and six smaller denomination notes.
All have been found to be forged.
The woman is currently under a three day remand.