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.
To find out more about our free of charge staff training materials, including a banknote app, booklet, posters, film and deterrent stickers, showing you how to check that banknotes are genuine, see the link below.
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 'Framework for Cash Handling Machines' link below for more information. Businesses that use machines should also see the following link which provides information on how the change of Chief Cashier signature on the £10, £20 and £50 banknotes could require some machines to need an update.
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