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.
In the run up to the busy festive period, we are encouraging retailers and businesses to take extra care when checking banknotes. Retailers and businesses are much busier than normal and often employ temporary staff, so there is an increased risk of counterfeit banknotes being passed.
See our short film highlighting the key points.
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 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