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
- The holograms
- The metaillic thread
- The motion thread on the new-style £50 note
To help identify genuine banknotes, we provide a range of free educational materials (booklet/posters/film/deterrent stickers etc) which can be ordered via our online order form or by telephoning 0207 601 4878.
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. More information about company policies can be found on our Hints & Tips page.
Some retailers and businesses use machines to count, sort and validate banknotes. To assist both users and manufacturers the Bank has introduced a framework for testing machine capabilities.
Cash in transit robberies continue to be a major problem in the UK. To make this a less attractive crime the Bank works with the cash industry to promote the use of dye staining devices in cash boxes so that stolen notes are easily recognisable. For further information visit www.banknotewatch.org.
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.