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Samuel WhyteThe Berbice Chamber of Commerce and Development Association (BCCDA) in collaboration with the Bank of Guyana on Wednesday hosted a seminar on Money Laundering and Counterfeit Detection at the Chamber’s Office in Chapel Street,Mathias Corujo Uruguay Jersey, New Amsterdam.The seminar was conducted by Mr. Terry Stuart,Manny Ramirez Indians Jersey, Head of the Bank of Guyana Security Department. The presentation on money laundering was done by Mrs. Irene Williams of the Bank’s Supervision Department. The session was well attended by representatives from various banks,Jose Bautista Blue Jays Jersey, insurance companies,Josh Donaldson Blue Jays Jersey, beverage companies,Noah Syndergaard Mets Jersey, public and private sector entities and individuals,Cheap Houston Texans Jerseys, among others.According to a release from the chamber “it has been noted with much concern the high circulation of counterfeit notes around the communities and this has a negative impact on businesses since it can cause unnecessary losses especially to businesses that operate night activities like clubs and restaurants.”The Chamber in its release stated that “while it may be digestible to say a $1,Texas Rangers Rougned Odor Jersey,000 is here and there and we can deal with the losses it is worrying to think when the new $5,Roger Staubach Cowboys Jersey,000 note comes on stream. It is mind boggling to note whether businesses will be able to impact or cushion such losses.”The Chamber is urging that the authorities take urgent steps to improve the security features and is advising that the currency be printed on anti-fraud plastic bank notes to avoid forgery and counterfeiting.Another concern expressed by the chamber is the impact the  introduction of the new note would cause on the economy in terms of inflation and driving up the cost of services and prices. According to the release,William Perry Bears Jersey, the higher the value of the currency in a country the much more expensive the cost of living would be.“The Chamber at this time believes that energies should be directed towards forcing the economy to adopt a more plastic and electronic culture towards doing business as this will eliminate the walking around with cash and presents better tracking and record keeping of consumer spending and vendor transactions.”The Chamber considered the seminar on money laundering and counterfeit was timely. It expressed the hope that more such interventions should be done on a more regular basis.