Currency

IRISH RETAILERS GETTING CAUGHT AT CHRISTMAS

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Update time : 2019-12-20 14:53:29
03 January 2009 - Sky News
        
The number of fake Euro banknotes in circulation has risen by almost a fifth in the last year, denting claims that it is the most counterfeit-proof currency.

Sky News was able to buy counterfeit money which was accepted in Dublin shops
As part of a special investigation, Sky News was able to purchase forged €50 banknotes from a man calling himself "Tony" in London.
He charged £100 for €300.
A Sky News team was then able to spend the fake notes in five different shops and pubs in Dublin.
Not one of the small businesses targeted had a machine or special marker to detect counterfeit currency.
Dublin cafe manager Chris Tecklenberg was disappointed his staff did not spot the fake note.
He said: "I was quite surprised really because we are normally quite vigilant with that sort of thing.
"The actual note on first glance looks quite genuine."
Barry Robinson works in his family's art shop and also accepted a fake banknote without question.
I feel a bit foolish, but it is quite a good fake.
Art shop worker Barry Robinson
He said: "This time of year it's easier to pass because it's busy and people are just concerned with getting money in to the till."
The counterfeit dealer in London denied selling fake notes when he was confronted by Sky News.
But figures from the European Central Bank show there are potentially many organised criminals operating in the UK and Europe, taking advantage of the latest printing technology.
In the first half of 2008, 312,000 counterfeit Euro notes were withdrawn from circulation.
That is an increase of 18% on the first six months of 2007 when 265,000 notes were seized.
The bank also says the €50 note has been the most counterfeited.
Banknote expert Yasher Beresine said: "The quality doesn't have to be particularly excellent and this is why you will very rarely see completely new bank notes when they are forged.
"They are always a little bit torn, a little bit used, because it is of course much more difficult then to detect."
The European Central Bank has warned retailers to be on the look-out for forged notes during this busy retail period, but it insists the number of counterfeits remain low.
While those who think they can get away with spending fake money are being warned that they could end up spending time in prison in