Overview
- The National Crime Agency's figures show that last year the number of counterfeit banknotes in circulation more than doubled compared with 2024.
- The Bank of England estimates about 5 billion genuine notes are in circulation and roughly 200,000 counterfeit notes have been detected, with £20 and £10 notes most commonly forged.
- Counterfeiting is a criminal offence that can carry up to 10 years in prison and asset seizure, and the Bank of England says counterfeit notes are worthless and cannot be reimbursed.
- Authorities are urging the public to check security features such as the silver foil patch, 3D coronation crown, raised print and large window, to hand suspected fakes to police, and to report online adverts offering fake notes.
- Practical impacts include deposit machines rejecting suspected fakes and small businesses losing cash, a problem officials warn could push costs onto consumers and strengthen organised crime funding.