The Charity Retail Association has joined The Bank of England’s Banknote Checking Scheme as a strategic partner. The scheme is aimed at cash-handling businesses and promotes banknote checking of Bank of England banknotes at point of sale through targeted training.
Its goal is to reduce the number of counterfeit notes being accepted in cash transactions. Counterfeit banknotes are a direct cost to charity shops and manufactured by organised criminal gangs with the proceeds used to support other crime.
The scheme has six guiding principles to support. In return, the Bank of England will recognise this by providing enhanced access to counterfeit information and advice on training staff.
The Bank of England’s other strategic partners are: Association of Convenience Stores (ACS), British Retail Consortium (BRC), Crimestoppers, National Crime Agency (NCA), National Pubwatch, Petrol Retailers Association (PRA), and Retailers Against Crime.
Our Chief Executive, Robin Osterley, said: “We are delighted to join The Bank of England’s Banknote Checking Scheme as a strategic partner. If they are not spotted, counterfeit banknotes are a direct cost to charity shops.
“We represent more than 8,900 charity shops across the UK and are committed to ensuring our members are given access to information that protect them from fraudulent behaviour.”