Receiving counterfeit money, whether in a transaction or as change from another purchase, can be an incredibly upsetting experience. Though we must do it in a cool, calm way, there are specific actions that can be taken to alleviate potential issues, such as understanding how to avoid situations where others might try to sell fake money. Being informed and proactive can help you navigate and resolve counterfeit money issues effectively.
Recognize the counterfeit
- Identify counterfeit bills: Assess whether you receive counterfeit money before taking any action. Learn how to check for genuine currency features and cross-check the notes under suspicion. Check for differences in watermarks, security threads or color-shifting ink.
- Do not use fake money: Never try to spend fake money, push it off on someone who doesn’t know otherwise or pass it through a detector. It is a crime to use counterfeit money, regardless of whether you knew it was fake. You should be able to safely dispose of the fake cash without transferring it to someone else.
Report the counterfeit
- Contact local authorities: Notify authorities, such as the local police, of counterfeit money. Inform them about who passed you that counterfeit money and where you got it. Additionally, the police can help walk you through what to do next and potentially even investigate who it was that gave you the surprise money.
- Notify the banking establishment: If you get counterfeit money from a bank or shop, then inform that bank immediately and give the details in it. Most financial institutions have policies for dealing with counterfeits and can help you move forward.
Handle the situation properly
- Protect the fake money: Separate the fake money from actual currency. You should store it in a secure place and not touch it too much. It is advisable to preferably keep it in a sealed envelope or pack so as not to be mixed accidentally by real money.
- Follow legal advice: Call Legal if needed. If not, you may want to seek advice from a lawyer who can help explain your rights and obligations related to counterfeit money. They will advise you on how to act in such a scenario and secure yourself as per law.
Learning about what kind of features your currency may or may not have and taking steps to secure transactions can eliminate most future issues, including those related to attempts to sell fake money. Being well-informed and cautious helps ensure you avoid counterfeit situations and conduct secure transactions.
