Retailers and businesses play an important role in the UK cash cycle; and they are on the front line in the fight against counterfeiting.
As part of an overall loss prevention strategy, it is important to check all banknotes being passed in transactions.
Our advice is to remain vigilant at all times, and don't rely on just one security feature but check a few such as the feel of the paper and the raised print, the watermark and the metallic thread. To help identify genuine banknotes, we provide a range of free educational materials.
The Bank recommends that retailers and businesses establish a company policy so employees are clear on the procedures to follow should they be presented with or discover a counterfeit banknote. See Hints & Tips below for more information.
Some retailers and businesses use machines to count, sort and validate banknotes. To assist both users and manufacturers the Bank has a framework for testing machine capabilities, see link below for more information.
The Bank is keen to work on anti-counterfeiting issues with retailers/businesses and trade associations directly. If you would like help or advice please contact us