Five ways to spot if your banknote is fake | UK News [Video]

How easy to do you think it is to tell fake banknotes from the real ones?

Counterfeit money accounted for 0.0025% of the 4.6 billion banknotes circulating in 2023, according to the Bank of England.

That means £2.5 million worth of fake money was hiding among the £82billion of real ones doing the rounds.

But fraudsters are touting their wares on social media platforms like Instagram and Facebook, where £10,000 worth of fake notes are sold for as little as £1,000.

Mario Van Poppel, CEO of currency exchange firm Manor FX, said: ‘The audacity of these criminals is staggering.

‘They are brazenly promoting counterfeit currency, capitalising on the reach and anonymity that social media and the internet provides.

‘This poses a significant risk, not only to individuals who are duped into buying these fake notes but also to businesses and the broader economy.’

Counterfeit cash has been enough of a concern in the past for the …