Volumatic is urging retailers to take note of the latest Bank of England guidance on identifying forged banknotes - particularly as concerns rise over a fresh wave of counterfeit £20 notes entering circulation.
The Bank’s latest advice highlights the advanced security features on both Queen Elizabeth II and King Charles III polymer banknotes, including holograms, foil patches and transparent windows. It also offers practical steps to help businesses detect and respond to suspected forgeries.
While the number of counterfeit notes remains relatively low - thanks in part to the switch from paper to polymer - 89,000 fake counterfeit banknotes were nevertheless removed from circulation in 2024 it has been reported, and there are signs attempted forgeries are once again on the rise.
Volumatic says it has seen an increase in enquiries from businesses struggling with counterfeit notes since the start of this year. With counterfeiters becoming more sophisticated, retailers are being reminded that older detection tools like pens are no longer effective, and even UV lamps have their limitations.
James Harris, MD at Volumatic, said: “Counterfeit notes have sadly been around for many years, and lots of both big and small retailers are contacting us at the moment as forgeries are causing them a big headache.”
Volumatic offers a range of note-checking devices and cash management solutions.
Harris concluded: “Every Volumatic device is tested to the highest standards, and we offer updates for our detectors whenever new counterfeits emerge. It’s all about peace of mind, helping protect businesses, staff, and customers.”
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