3 Reasons Why Your Company Needs a Counterfeit Detector (Updated 2019)

    Feb 11 2015

    Topics: Counterfeit Detector

    If your business receives hard currency as payment, you should have a counterfeit bill detector. It’s just that simple. Counterfeit money is a real risk in the business world. Scam artists will swindle anyone for a few bucks.

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    They don’t care that you’ve built your business from nothing and that you work hard every day for every dollar that comes through your doors. Counterfeiters won’t stop scamming people and business, so it’s up to you to protect your company and your bottom line. Here are three reasons why your company needs a counterfeit detector.

    1. Protect Your Money

    Polymer bills have many security features including infrared while Canadian paper bills use infrared, UV, and magnetic. It is a good idea to purchase a counterfeit detector which can detect all three technologies to guarantee accuracy. When you accept counterfeit bills at your business, you’re losing out on money. The moment the bill exchanges hands and the customer walks away, that fraudulent bill becomes your responsibility.

    That’s why it’s so important to catch the counterfeit bill before it becomes your problem. When you don’t accept counterfeit, you are left with more of your hard-earned cash in your bank account, instead of giving it away to criminals. Your money is the most important thing in your business, so you need to ensure that it’s protected by having a counterfeit detector at each cash register.

    You can buy a counterfeit detector in a wide variety of sizes and styles, so you can find one that works for your unique needs.

    2. Protect Your Customers

    Your customer may have innocently accepted the counterfeit bill elsewhere. When you implement counterfeit detector technology at your cash registers, you’re also protecting your customers. Once a fraudulent bill is detected, you can work with the customer to resolve the issue. It’s an embarrassing situation to be in for any customer, so it’s important that you know how to help the customer get through the process of reporting the fake cash once it’s been identified.

    3. Protect Your Employees

    Your employees are busy. When business is booming, they’re multitasking to help customers, scan items, and take payments. With so much going on, it can be easy to miss small security features when checking each bill that comes through their cash.

    Plus, counterfeiters have become far more intricate in their scams, so it can be difficult to detect a counterfeit bill at first sight. Not all of the security features can be seen with the naked eye, so it’s best to leave the detection process to counterfeit bill detectors that are equipped to identify even the smallest variation.

    Naturally, if the customer with the fraudulent bill has come by it innocently, he can become quite distraught if an employee is the one telling him that his bill is fake. He may feel accused and harassed by the employee. But with a counterfeit detector, the machine is the one identifying the bill as fake, so the customer is less likely to get irate with the employee for refusing to take the money.

    Avoid the Risk of Fraud

    It’s important to keep your money, your employees, and your customers safe from fraud. With a counterfeit detector, you can protect all three with just a small investment. Don’t lose out on money because you haven’t implemented a counterfeit detection plan into your business. Avoid the risk with the right counterfeit technology.

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    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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    CashTech Currency Products Inc.
    1040 Cardiff Boulevard
    Mississauga ON, L5S 1P3

    905.696.0733