Recently, counterfeit money has been spotted around London, according to local police, and business owners are urging everyone to stay alert.
In a statement shared on Wednesday, the London Police Service outlined what people should watch out for.
These are tips that Jenn Jack, owner of Magpie Collected Creations, wished she had known when a fake $50 bill was used at her shop in Covent Garden Market.
“We’re all small businesses and it hurts your bottom line,” Jack said. “And you don’t want to pass on a fake bill to a customer either, right?”
She mentions that identifying fakes can be tricky, but she’s learned that color and texture are key indicators. For instance, the counterfeit $50 she accepted might have yellow shades around the edges instead of the usual red.
The London police pointed out that real bills come with security features like transparent windows, holograms, and raised ink which are hard to duplicate perfectly.
The Bank of Canada also advises people to check serial numbers since counterfeit notes often share the same serial number while genuine ones have unique numbers.
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Security features like holograms can help identify fake bills, police said. In these ones, the values on the hologram do not match up with the values of the bills. (Charlottetown Police)
“At the end of the day, if you encounter suspicious banknote, refuse it and request another,” Const. Matt Dawson said.
“Should you receive it again, report it to the London Police Service online and provide as much information as possible about the person who attempted to use it.”
Storeowners mention that once a counterfeit bill is accepted, there’s really no way to recover losses.
“Generally, you’re out the money,” she said; however, some businesses do have insurance for larger amounts. In her six years running her business, Jack has only seen two fake bills.
She along with other small business owners encourages everyone to report any fake bills they encounter to law enforcement.
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