Mogadishu, (InsideSomalia.org) Money counterfeiting is widely increasing in many parts of Punt land autonomous regional state in Somalia, say reports.

Last week tension was very high at Al Hamdulilaahi, a small district 35km away from Bosaaso, the capital of Puntland where at least three people were killed after a row over money counterfeiting machine.

The money counterfeiting machines are reported being scattered in Puntland where currently at least four of the counterfeiting machines are circulating once taken and retaken in between the business people and government, said government official speaking to InsideSomalia.org in anonymity.

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"The price of the essential food commodities goes up day by day and the number of fake money printing machines goes up" said Mohamed Ali , a businessman in Bosaso.

"Puntland authorities involve in the dirt business affair in which many innocent people are suffering from the inflation that reach its highest peak since long time in Puntland where people now can not buy a cup of tea" said Abdirahim Hangeh, a scholar and a lecturer at East African university in Bosaaso.

These machines counterfeited both Somali Shilling notes and US dollar and amount of money of Somali Shilling and Dollar were printed and distributed among Puntland districts

Puntland state and some of the business people were among those imported money laundering machines in Puntland secretly but now things are out of hands and became uncontrolled.

"The government tried confiscating the machines by the business people rejected it and now things are stalled "said Awale Muse, a resident in Boosaaso.

170, 000 parcels of money laundering papers and ink are in the port of Boosaaso, said a police officer in Bosaso speaking in anonymity.

The livelihood in Punt land is worsening and economy goes down as money laundering is steadily growing in Puntland and even scattering in other parts of Somalia like Mudugh and Hiraan regions.

In Galkacyo and Bosaso, residences of the government officials and prominent business people are restrict guarded by armed men and people believe that such positions are where money laundering machines are kept and even fake money being printed and distributed .

The rate of foreign exchange especially the United States Dollar is 100 US$ to 2,800,000 Somali Shilling, the highest ever seen all over Somalia compared to 100 US$ to 2,500,000 Somali Shilling in Mogadishu.

Money laundering is a new phenomenon and it is one of the highest economical adventures to the developing countries including Somalia where poverty led many to turn into money laundering.

In Puntland many business people may turn into this criminal activity rather then developing a constructive income generating activities.

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