Expert Insight
PROTECT YOUR VENUE FROM COUNTERFEIT CASH
On the 30th September, all paper £20 and £50 notes will be withdrawn and should not be accepted by businesses. They have been replaced with polymer notes that entered circulation in early 2020.
Nightlife venues are particularly at risk, as counterfeiters target businesses where it might be more difficult for staff to check the notes used. They might also be used to buy lower value items (such as a single drink), meaning they get away with a free drink – and cash from your till!
WHAT TO DO IF YOU FIND A COUNTERFEIT BANKNOTE? Make sure your staff know what to do if they suspect a note is counterfeit by having a clear company policy and protocol. Staff need to ask themselves these questions, and then follow these steps:
• Do you suspect counterfeit cash? • Is the customer still present? • Does the staff member feel at risk?
STEPS TO TAKE IF YOU THINK BANKNOTES ARE COUNTERFEIT Make a record of the payment and ask the customer to pay with something other than the counterfeit cash.
If the customer does pay with something else, keep the counterfeit cash. Take the counterfeit cash to a police station for investigation. The police will give you a receipt for the counterfeit cash, if you have not been reimbursed already. The fraudulent customer may or may not be charged by the police.
If the customer becomes aggressive call the police and have them deal with the situation. Try to not let the customer leave the premises.
If you have no knowledge of who gave you banknote, take the fake cash to a bank of England/Scotland and they will give
42 September 2022
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you a receipt. Tell them about the time and place you think it could have happened and they will record the incident and provide further guidance on how to avoid this in future.
WHAT CAN BE USED TO IDENTIFY COUNTERFEIT CASH?
Ultraviolet (UV) lamps A UV lamp which emits light at around 365 nanometres is ideal for checking the fluorescent features on all our notes. It is not advised to use LED (Light Emitting Diode) devices, such as key-fob style detectors. Some counterfeiters do attempt to copy UV features, so make sure your staff know exactly what to look for, such as the colours used in the UV numbers.
Detector pens Detector pens don’t spot counterfeits printed on polymer. They work by reacting with the starch present in ‘normal’ paper. They can detect some counterfeits printed on paper, but not all. If you do use one, remember old or dirty pens can be unreliable.
Using banknote authentication machines If you use a machine to check banknotes, make sure it can spot the latest counterfeit notes – being the new £20 and £50 notes. It enables manufacturers to test their machines with counterfeit banknotes to ensure they only accept genuine banknotes.
Train your staff Staff with a trained eye is the best way to catch out counterfeit cash. Teach staff to check the hologram image, the see through window, the raised print of the polymer and the green foil patch, as this are the most difficult motifs to replicate.
To learn more about how NDML can protect your venue against whatever it might face, visit
NDML.co.uk or call 0344 488 9205.
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