The Central Bank is advising people to be aware of counterfeit bills when they conduct cash transactions during the busy Carnival season.

The Bank held its "Know Your Money Seminar" yesterday at the Central Bank Tower, Port of Spain, led by Matt West, regional manager of De La Rue, the UK-based printers of Trinidad and Tobago’s currency.

West focused on sensitising the audience to the key security features of local currency to alert users to counterfeits.

Central Bank senior manager for operations Alastair Noel said while Trinidad and Tobago did not really have a big issue with counterfeit bills, the higher volume of cash transactions during this time prompted the Bank to hold this annual seminar.

"Why we do this is because, while we promote electronic payments, at times like this you have increased night-time entertainment, market purchases, more people on the street-- less capacity for electronic transactions...We have a substantial amount of currency in circulation- over $4 billion," he said.

He added, "It’s not higher counterfeiting incidents, but just for higher vigilance...the few incidents we see, they are kind of obvious."

The key security features on Trinidad and Tobago’s currency include a watermark and electrotype marking specific to each bill (seen held up to the light); gold iridescent band; thread with text, and blue vertical serial numbering.

Twenty and hundred dollar denominations include a foil print on the front right of each bill: A gold hibiscus and a silver-based hologram in the shape of a shield respectively.

West said that when testing a bill as counterfeit it was important to use a genuine bill as a guideline and "feel, look, tilt and check".

"Feel for smooth crinkly paper and a bumpy relief in the area of the governor’s signature. Look at the colour, denomination, images specific to each bill, the security thread, watermark and electrotype and other distinguishing features. Tilt $10, $20, and $100 bills to see the metallic inks and features. Check for print accuracy (to make sure images are perfectly aligned) and use an ultraviolet light and magnifying glass to define images," he said.

Trinidad and Tobago’s currency was last updated in 2006. The maximum sentence for being found guilty of counterfeiting is 14 years imprisonment.