The problem of counterfeit cash

23 September 2008

Paul Snell By Paul Snell

This report on the BBC yesterday revealed the growing number of fake £1 coins in circulation – as many as one in 50 is counterfeit.

Experts said criminal gangs were responsible for manufacturing the fakes using specialist equipment. Around 2 per cent of coins are said to be dodgy, a level at which in other countries has damaged confidence in coins, with people refusing to accept them.

Does counterfeit cash present a problem for buyers? Or does the world of e-commerce and paperless transactions mean false notes and coins are no longer a worry?

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