Shops To Up Their Game To Spot Counterfeit Money

Progression is a wonderful thing, without which we may not have many of the things that we rely on and enjoy today. However, if you find yourself holding a counterfeit banknote, you may begin to suspect that progression isn’t actually that great after all. Although there are ridiculous stories of shops accepting fake notes which are simply photocopies stapled together, for the most part counterfeit money is becoming more realistic than ever, and those working directly with customers and receiving money need to know how to spot a potential fake.

You may not be able to spot a fake right away

Whilst some forgers will attempt to pass off notes which have been crudely photocopied, for the most part they will be using more sophisticated technology which make counterfeit notes more difficult to detect. Forgers can use computer software to put together the notes including as much detail as possible, and then print them out on high-tech colour printers. For overworked and rushed shop assistants, this can mean that they simply don’t have cause to suspect the note of being fake.

You cannot claim back your money if you accept a fake

The bad news for shop assistants and the general public is that if you do accept a counterfeit note there is no way for you to get money back when it is discovered. Shops are generally urged to inform the police when they come across a counterfeit note and the police will take it for testing, but should it be discovered to be a fake there is no way to get compensation. Even worse, if you are a member of the general public who has handed over a fake note, you may be detained and even charged as it is an offence to pass counterfeit currency whether you are aware of it or not.

There are more sophisticated ways to check your money

Luckily, should you want to protect yourself, there are easier ways to check each note that you are handed so that you can query it right away if you are given a fake. Zzaponline.com is a website selling sophisticated counterfeit note detectors which can be used in shops or by members of the public. These range from portable detector pens to larger machines which can be used in moments at a point of sale. It is also worthwhile taking a quick look at any note you are given to look for standard details of real notes, such as the image of the queen which appears under the light and the ‘motion thread’ which runs across the width of the note. In a recent survey carried out by Zzaponline.com 35.4% thought that if you found yourself in the possession of a fake $20 you could take it into a bank and exchange it for a real $20. But of course this is not true!

What can you do if you are handed a fake?

To avoid losing money, you should avoid accepting any money which may be counterfeit, but if you work in a shop or with money in any capacity, there is always the chance that you will one day come across a fake. The Bank of England has a standard list of rules which govern what you should do next so that you can avoid getting into any trouble for handling the note. You can check this out here. These include retaining the note and explaining to the customer that it will be handed to the police, and speaking to the police as soon as possible. There are further tips available through the Bank of England site which will explain how to do this safely and without putting staff at risk. 

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