Ways to Get Rid of Fake Money

Counterfeit money is a serious problem for the economy and society of Bangladesh. It not only causes personal financial losses, but also has a negative impact on the overall economic stability of the country and the banking system. Awareness, vigilance and integrated use of modern technology are required to protect yourself and businesses from counterfeit money. This article discusses in detail various effective ways to get rid of counterfeit money.

Identifying the Features of Fake Taka

The first step to getting rid of fake note is to understand the difference between real and fake notes. Bangladesh Bank has added several security features to the real notes that make it difficult for counterfeiters to duplicate.

Watermark test: When the note is held against the light, the portrait of Bangabandhu Sheikh Mujibur Rahman or other specific designs will be clearly visible. This watermark is made inside the paper, not printed on top. The watermark on fake notes is either blurred or not present at all.

Security thread: A fine security thread is inserted inside the paper in the middle of the real note, which can be seen when held against the light. This thread is made of a special material that glows under ultraviolet light. In fake notes, this thread is either printed on the paper or is completely absent.

Paper quality and feel: The paper of real notes is made of a special cotton-based material that gives a completely different feel from ordinary paper. It is strong, durable and produces a special sound. This feel can be easily identified with regular practice.

Color stability: The color of real notes is permanent and bright. If you observe it closely, you can see subtle color changes and the perfect quality of printing. The color of fake notes is often blurry or unclear.

Intaglio printing: A special intaglio printing method is used in real notes, which feels raised and lowered when touched, especially in the portrait of Bangabandhu and the number part. Fake notes do not have this tactile feature.

Use of modern technology

Counterfeit note detection devices: There are various types of counterfeit note detectors available in the market. From simple ultraviolet (UV) light detectors to advanced multi-sensor detectors that use UV, infrared (IR), magnetic and image analysis technology. The right device should be selected according to the size of the business.

Mobile applications: Several smartphone applications are currently available that can verify the authenticity of notes by taking a picture. Although they are not always 100% accurate, they are still effective as an initial precaution.

Be Careful when Accepting Transactions

Be careful when accepting large notes: 1000 taka and 500 taka notes are more prone to counterfeiting because they are more profitable for counterfeiters. Be especially careful when accepting notes of this value and verify them thoroughly if possible.

Accepting cash from strangers: Extra caution is required in large transactions, especially when accepting cash from a stranger. If possible, take enough time to verify the notes and do not rush.

Special attention during busy times: During rush hours or on holidays, when transactions are fast, counterfeiters have more opportunities to counterfeit notes. Be extra careful during these times.

Training of Employees

Regular training is essential for those who handle cash transactions in any business establishment. Training programs are organized in Bangladesh Bank and various bank branches on detecting counterfeit notes. Making employees skilled in this subject is a long-term investment for the organization.

Regular refresher courses: The techniques of making counterfeit notes change over time. Therefore, regular updated training should be arranged for employees.

Practical practice: Not only theoretical knowledge, but practical practice with real and counterfeit notes in hand increases the skills of employees.

Encouraging Digital Transactions

The most effective way to get rid of fake note money is to reduce cash transactions and use digital payment systems. Customers need to be encouraged to use mobile banking (bKash, Nagad, Rocket), debit-credit cards, online banking and QR code payment systems.

Point of Sale (POS) Machine: By installing POS machines in businesses, customers can easily make payments through cards, which is completely safe and free from the risk of counterfeit money.

Digital incentives: Customers can be encouraged to make cashless transactions by offering special discounts or cashback on digital payments.

Legal Awareness and Responsibility

It is a punishable offense to knowingly or unknowingly use counterfeit money. It is a civic duty to deposit it with the nearest bank or police without using it if you find counterfeit money. Although no money can be returned in exchange for counterfeit money, it protects others from harm and helps in identifying fraud rings.

Withdrawing Money from a Bank

There is no guarantee that new and shiny banknotes will always be genuine. However, the chances of money being counterfeited when withdrawn directly from a bank are very low because banks use advanced money counting with fake note detector to verify banknotes. If you need large amounts of cash, it is safe to withdraw from a bank.

Avoiding Suspicious Situations

Be especially careful in suspicious situations such as selling products at unusually low prices, insisting on cash transactions by bargaining excessively, or trying to complete transactions in a hurry. It is better not to make transactions if necessary.

Conclusion

To get rid of fake money, a combination of personal awareness, proper use of technology, and social responsibility is required. The awareness and vigilance of every citizen can reduce this problem. Remember, the fight against fake money is not only the responsibility of the government or law enforcement agencies, but also the responsibility of every conscious citizen. Let’s all work together to build a fake money-free Bangladesh.