Retaining fake money

ajuk

Is it a legal requirement for retailers to retain any fake money they come across, if yes does anybody here know what act that would come under?

pcombo

If it's "fake money" then the retailer will give it to bank or police to investigate, There hardly going to hand it back and keep it in circulation.

Why you trying to complain that you lost fake money.

ajuk

I'm not complaining, I literally just want to know if it's they're legally obliged to retain them or not.

zppp

You may find this post and thread useful;

Thanks for your enquiry. I note that you have already spoken with a colleague of mine about this earlier today. The correct procedure in your case is that once the suspect note had been identified, a receipt should have been offered detailing the serial number and denomination with contact details of the respective parties, and the note handed to the police as soon as possible. The Bank does not have legal or statutory powers to enforce retailers to give receipts but by law all suspect notes should be handed to the police. It would seem good sensible practice for retailers to issue you a receipt and many retailers do, as you have said some suspect notes are in fact genuine and they would have no way to contact you. There are two courses of action. First, you could check that the note has been handed to the police, and if not ask that it does. I am sure that the police will want to annotate your contact details to their paperwork, and if found to be genuine, you will be refunded. Second I could offer to write to the Co-Op to ask them to review their procedures in light of this situation.

(http://forums.moneysavingexpert.com/showpost.php?p=30681593&postcount=54)

https://forums.moneysavingexpert.com/discussion/2325405

According to these posts, yes, the retailer is not allowed to give the fake note back.

visidigi

pcombo wrote: »

Why you trying to complain that you lost fake money.

Thats a bit presumptive - he could be a retailler asking what his rights are if someone tries to buy something from him with fake money.

Bit harsh to accuse him straight up when you don't actually know the facts of the matter....

shaun_from_Africa

It would be covered by the "Counterfeiting act 1981"

15 Offences of passing etc. counterfeit notes and coins.

(1)It is an offence for a person—

(a)to pass or tender as genuine any thing which is, and which he knows or believes to be, a counterfeit of a currency note or of a protected coin; or

(b)to deliver to another any thing which is, and which he knows or believes to be, such a counterfeit, intending that the person to whom it is delivered or another shall pass or tender it as genuine.

(2)It is an offence for a person to deliver to another, without lawful authority or excuse, any thing which is, and which he knows or believes to be, a counterfeit of a currency note or of a protected coin.

You are not committing an offence if you pay with "dodgy" notes (providing that you weren't aware of the fact), but once a shop keeper has realised that the note isn't genuine, they can't legally pass it back to you.

pinkshoes

Legally, they can't pass it back to you, but you're quite entitled to ask for (insist on!) a receipt to say that this is what they've done.

Personally I would go as far as marking the note with your signature, just in case it isn't fake (so you get it back), and they try passing another fake note off as yours! (not that I'm suspicious or anything, but I've been handed fake notes in a shop before, and wasn't overly amused!)

Oliver14

visidigi wrote: »

Thats a bit presumptive - he could be a retailler asking what his rights are if someone tries to buy something from him with fake money..

Very unlikely though.

visidigi

Oliver14 wrote: »

Very unlikely though.

WHY?

Why is everyone always guilty till proven innocent...

ajuk

Oliver14 wrote: »

Very unlikely though.

No he was right. Basically I know my employer gets annoyed at my ability to spot fake pound coins, but if I start retaining them I wanted to know that they couldn't touch me for it, so then I won't get put on a checkout.

neilmcl

ajuk wrote: »

No he was right. Basically I know my employer gets annoyed at my ability to spot fake pound coins, but if I start retaining them I wanted to know that they couldn't touch me for it, so then I won't get put on a checkout.

If you can't spot them then how do you know to retain them ???