National Police Warn of Rising Counterfeit Money, Offer Tips to Spot Fakes
The National Police are warning the public about an increase in counterfeit money circulating, offering tips to identify fake notes and coins and advising how to report suspected counterfeits to the Bank of Spain.
The National Police has issued a warning on social media about more fake money circulating. They've shared tips to help people spot counterfeit notes and avoid being tricked.
Businesses and restaurants are particularly at risk from this type of fraud.
If you receive what you believe to be fake money, you can hand it in to the Bank of Spain or a bank. They will give you a receipt, which can be used to track your case.
You'll be notified by email or post about the outcome of their assessment. If the Bank of Spain confirms the money is real, you'll get it exchanged or have the amount credited to your account.
The Bank of Spain advises everyone to always check the cash they receive. If you have counterfeit money that can't be exchanged, you'll lose its value.
The National Police has also shared a simple way to check if a banknote is fake.
If banknotes don't pass these checks, they are likely counterfeit. It's important for everyone, especially business owners, to be vigilant to prevent scams.
There's also a straightforward five-step method for checking if coins are genuine.