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Is your cash counterfeit-free?

Nova Scotia RCMP are encouraging citizens to learn how to identify counterfeit currency as part of Fraud Prevention Awareness Month initiatives. At first glance, a good counterfeit note looks like the real deal. But if you know what to look for – and feel for – it only takes a few seconds to detect a fake.

RCMP Sgt. Tom Murdock of the Commercial Crime Section advises that, “Checking your bank notes during every transaction protects your money and prevents the circulation of counterfeit currency.”

Here are some tips to keep in mind if you suspect counterfeit currency:

-Be especially careful during busy periods as this is when counterfeit notes are more likely to be passed
-Business owners should pay particular attention to customers who pay with banknotes of much higher denomination than is needed for the transaction
-If possible, keep the suspicious banknote and record all relevant information (denomination, serial number etc.). Contact police immediately
-Remember, someone passing a counterfeit banknote may not be aware of it. He or she could be the innocent victim of a crime

When trying to determine if currency is counterfeit, Sgt. Tom Murdock suggests picking two or three security features that you are comfortable with: Remember the TILL method of authenticity:

-Tilt the note – see if the colour shifts on the metallic slip
-Touch the note and feel if the ink is raised
-Look through the note – check for the ghost image at the center of the note
-Look at the overall appearance of the note
-If you suspect that you’ve received a counterfeit note, ask the retailer for another. Advise them that you believe the note in question is counterfeit, and that it’s their responsibility to contact police

You are responsible for the bank notes you hold, checking your notes is your best defense against counterfeiting. Counterfeit currency is the work of organized crime groups, who profit from them directly.

Throughout the month of March, Nova Scotia RCMP will be highlighting tips and information to help reduce your chances of being victimized by fraud and keep you safe from scammers. Topics covered will include identity theft, phishing, on-line shopping, social networking and credit and debit card fraud. Recognize it, Report it, Stop it!

Source: http://www.bedfordbeacon.com/is-your-cash-counterfeit-free

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