Counterfeits are typically removed from circulation quickly, often after a single use. In 2024 less than 0.0019% of banknotes were counterfeit, that is less than 1 in 52,600 banknotes. Approximately 91,000 counterfeit Bank of England banknotes with a nominal face value of £1.9 million were taken out of circulation.
If you are a customer and have been passed a forged bank note in your change, hand the forged bank note into the local police station and give the details, if at all possible, of where you were given it.
The threat of counterfeit U.S. currency to the financial system of the United States continues to evolve. Advances in technology, the availability of scanning and printing devices and the adoption of the U.S. dollar by nations as their legal tender have exacerbated the global threat.
Instead check for as many as possible of the following:
Serial Numbers. Genuine notes have unique serial numbers therefore if you have two notes displaying the same serial number at least one of them is a counterfeit.
Remember, the paper used to make genuine bills is not available commercially, so it feels "off," that is a big giveaway. The paper texture should feel like cotton and fiber and have slightly raised ink. Look at bills in the light. The color-shift ink is very hard to fake.
If you are convicted of using, creating, or dealing in counterfeit currency, the penalties can be severe. The federal judge could sentence you to up to 20 years in a federal prison, along with a huge fine up to $250,000.
What happens if you get caught with fake money in the UK?
It is a criminal offence to possess, pass (including sale), make or import these notes. (Section(s) 16, 15, 14 & 20 of the Forgery & Counterfeiting Act 1981). The maximum sentence for offences under the Act is 10 years imprisonment.
The best way to determine whether a note is genuine is to rely on the security features, such as the watermark and security thread. Counterfeit detection pens are not always accurate and may give you false results.
The paper has two main conclusions: first, the stock of counterfeits in the United States as a whole is at most about $30 million, or about 1 in 40,000 notes and is likely about $15 million, or on the order of 1 every 80,000 genuine notes in both piece and value terms.
Follow these simple steps to check whether your banknotes are genuine. There is a hologram on the foil patch on the front of the £5 note. If you tilt the note, the image will change between a brightly coloured picture of Britannia and the number 5.
When you tilt the note, a coloured border around the edge of the see-through window will change from purple to green. The '£' symbol in the window changes from purple to green. A silver foil patch contains a 3D image of the coronation crown. You will find this above the see‑through window on the front of the note.
The Bank will retain the counterfeit note for recording and destruction purposes. You will only be re-imbursed for the value of the note if it is subsequently found to be genuine. Please remember, it is a criminal offence to hold or to pass a note that you know to be a counterfeit.
Money counting machines use ultraviolet light sensors to detect these features in fake bills, as counterfeit notes typically lack these UV light markings or use incorrect ones.
Both federal and state laws have penalties for the crime of counterfeiting money. Under federal counterfeiting law, an individual convicted of creating, possessing, or using fake money may face a 20-year sentence in federal prison and a $250,000 fine.
If there is no security thread, the money order is COUNTERFEIT. If there is a dark strip where the security thread should be, but there is no "USPS" lettering in the strip, the money order is COUNTERFEIT. BACK: "HOLD TO LIGHT AND CHECK FOR BENJAMIN FRANKLIN WATERMARK AND SECURITY THREAD".
The banks use their counterfeit currency detection measures and technologies to determine whether or not the note is genuine. Any fake money encountered is confiscated, and the Secret Service is called in. This keeps the counterfeit money out of circulation.
If you deposit a counterfeit check or money order, you will not receive any funds or, if the funds are deposited, you will have to pay the funds back even if you have already withdrawn them from your account. Alert your bank or credit union if you believe you received a counterfeit check or money order.
So, do ATMs have cameras? Absolutely. Most modern ATMs are equipped with at least one ATM machine camera, though some advanced systems may have multiple cameras covering different angles.
