Don't buy into counterfeit cash

Checks can be made quickly and easily using the security features on the £5, £10, £20 and £50 notes. Here's what to look for.

Paper banknotes:

• Check the image flip. On the £20, the hologram flips between a £ symbol and the number 20. On the £50, the motion thread flips between a £ symbol and the number 50.

• Check the watermark. Hold the note up to the light and you will see an image of the Queen’s portrait. On the £20 and £50 notes, a bright £20 or £50 is also visible.

• Check the feel of the paper and raised print. Banknotes are printed on special paper that gives them their unique feel. By running your finger across the front of the note you can feel raised print in areas such as the words ‘Bank of England’. On the £20 and £50 notes, there is also raised print in the bottom right corner around the number 20 or 50.

On the new polymer £5 and £10 notes:

• Check the see-through window and the portrait of the Queen. The metallic image of the Elizabeth Tower on the £5 note and Winchester Cathedral on the £10 note are gold on the front and silver on the back of the notes.

• Check the foil patches. The image flips between the words “Five” and “Pounds” on the £5 note and “Ten” and ”Pounds” on the £10 note.

• Check the polymer and raised print. Polymer is a thin and flexible plastic material.

Counterfeiters target vulnerable people, such as the elderly, and businesses and even charity shops. Scams include: attempting to purchase low value items and pocketing the change; passing a fake note within a number of genuine notes; and asking to swap fake notes for a different denomination.

It is a criminal offence to knowingly use, or be in possession of fake notes. The maximum sentence under the Forgery and Counterfeiting Act 1981 is 10 years’ imprisonment.

Here's what to do if you think you have been given a fake note by a customer.

• Retain the suspect note without putting staff at risk.
• Give the customer a receipt, explaining that the note will be handed to the police. Explain that suspect notes subsequently discovered to be genuine will be returned.
• Call the police and hand them the counterfeit note; or take it to a police station later if requested by them. They will send the suspect note to the National Crime Agency (NCA). Fake notes are subsequently sent to the Bank of England for analysis.

If you find a counterfeit note when cashing up, or if there is evidence linking the customer to the transaction, please contact the police for advice first. Otherwise, follow your company policy and either take it to your bank or send it directly to the Bank of England using their form.

Banknotes that are to be given to the police should be bagged and handled by as few people as possible, as they could provide a source of forensic evidence. The Bank of England will issue you with a receipt for any counterfeit banknotes you send them, and you will be reimbursed for any that turn out to be genuine.
 

The Bank of England has launched a new Banknote Checking Scheme for retailers and businesses. The scheme is voluntary, free of charge and promotes banknote checking at point of sale through targeted advice and training. For more information visit the Bank of England banknote checking scheme site.

Call the police, then take it to a police station later if requested by them. They will send the suspect note to the National Crime Agency (NCA). Counterfeit notes are subsequently sent to the Bank of England for analysis. As counterfeit notes have no value you will not be reimbursed if the note you have sent turns out to be fake.

Please note: We are unable to take calls from victims, i.e. members of the public who may have been passed counterfeit notes. We take information from people who have knowledge about those involved in making, buying or selling counterfeit notes.

If you have any information on anyone making, selling or buying counterfeit notes, you can tell us anonymously by filling in our anonymous online form or calling free on 0800 555 111.

We know that counterfeiting is not a victimless crime. Counterfeit notes are manufactured by organised criminal gangs and the proceeds are used to fund other serious activities.

One gang has been sentenced to over three years’ imprisonment for making over £320,000 in fake notes, and in another instance £40,000 in fake notes were found in a property that was also used to produce and supply cannabis.

Here are some of the real life cases that show that counterfeiting is not a victimless crime and highlight why you should care.

87-year-old duped in £50 note scam

A recent example saw an 87-year-old man conned by an individual into handing over genuine money in exchange for a fake £50 note.

The victim was asked to break the note for change so the fraudster could get a taxi, only to find out later when he tried to spend it that the note was fake.

Source: Evening Gazette, August 2018

 

Summer fete suffers spate of fake £20 notes

A fundraising summer fete for a church in Kent found at the end of the day that it had received £280 in fake £20 notes – badly needed funds that the church could not now depend on.

The church warden said:

"Unfortunately, when I was doing the counting of the totals we had raised at the end of the fair I started to come across several of these fake notes.

"Our annual summer fairs really help us and the community out. People think churches have plenty of money but they don't, and it's not just the church services and the Sunday events - it's maintaining the church hall that we hire out to the wider community and the coffee mornings we hold once a week."

He has since learned that other businesses in the area have recently faced the same issue and said: "I'd like to raise awareness of this so that the community can take precautions.”

Source: Kentish Weeklies, June 2018