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Although the incidence of counterfeiting is relatively low there are some counterfeit banknotes in circulation. The best ways to avoid being caught out are to:
If you have any doubt, compare the suspect note with another note that you know to be genuine. Additionally, the Banknotes pages on this web site provide links to information on the key security and design features of banknotes issued by CCBI members.
Always examine a variety of features rather than relying on just one characteristic when deciding whether or not a note is genuine.
What happens if I come into possession of a counterfeit banknote?
It is important to remember that counterfeit notes are valueless. If you have a note that you believe to be counterfeit, and you are sure who gave you the note, you should take it to the police at once for investigation purposes.
If you have no knowledge of who gave you the note you are required to take it to any local branch of the bank of issue, at which time a "Retention of Counterfeit Currency Form" will be completed, a copy of which will be given to you for your records. 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.
Statistics
Only a small fraction of Scottish banknotes are counterfeit. In 2024, there were approximately 376 counterfeits for every 1 million genuine banknotes in a total circulation of 339 million notes worth £5.2 billion. Counterfeit notes are created illegally and are worthless. You can identify them by familiarising yourself with the features of genuine banknotes under the 'Banknote' section
Number and Value of counterfeit notes discovered
This chart shows the total notional face value of notes the banks have removed and their denomination. Data includes counterfeits of both current and old series notes.
This chart shows the total number of notes the Banks have removed and their denomination. Data includes counterfeits of both current and old series notes.
The table below shows the value of counterfeit notes that banks have received by denomination. The figures include both current and old banknotes series.
Only a small fraction of Northern Ireland banknotes are counterfeit. In 2024 there were approximately 19 counterfeits for every 1 million genuine banknotes in a total circulation of 151 million notes worth £2.4 billion. Counterfeit notes are created illegally and are worthless. You can identify them by familiarising yourself with the features of genuine banknotes under the 'Banknote' section
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