Banknote Checking Scheme

NPA have joined forces with the Bank of England to become strategic partners, along with the National Crime Agency (NCA) and others, in the fight against counterfeiting. The initiative is called the Banknote Checking Scheme.

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Our members can pledge their support for the scheme through our site by agreeing to follow six principles and completing our online form.

Benefits

  1. Counterfeit banknotes are a direct cost to your business- the Bank of England will provide you with materials to help staff spot fake notes and circulate information about counterfeits.
  2. Counterfeit banknotes are produced by organised criminal gangs and proceeds are used to fund other organised criminal activities. This initiative is yet another way your firm can defend against organised crime, and money laundering.
  3. Not checking banknotes can make you a target.

Other benefits include - reducing financial and reputational loss, supporting the Bank of England and Corporate Social Responsibility, building a strategic relationship with the Bank of England who will provide you with up to date news, and supporting your staff in preventing unknowingly passing on counterfeit notes.

The Six Guiding Principles

Your staff:

  1. Are trained and check banknotes at the counter.
  2. Know what to do with a counterfeit note - either to:
    1. Retain the note, give customer a receipt and notify the police
    2. Refuse the note
    3. If discovered after the customer has left, contact the police or present to your bank

Your business:

  1. Shares information on counterfeit notes with the Bank of England
  2. Promotes the scheme within your business
  3. Supports law enforcement activities by sharing information on counterfeit notes with the police.
  4. Nominates a primary contact for the Bank of England to communicate through.

Joining the Scheme

To read more detail and to join this scheme visit the Bank of England’s website where you can register your support by completing the survey form. The Bank of England will send you leaflets, window stickers and further information direct.

Then e mail us to confirm you are joining the scheme at sonia.sahota@thenpa.com and we will send you the NPA- Bank of England certificate by return and add you to the NPA members list of participating firms on our NPA website.