If your company accepts hard currency as payment, you should be aware of the risks. Counterfeiting is a thriving and lucrative criminal enterprise and you should protect yourself, your business, and your employees from fraud.
Currency is equipped with security features to help you identify fraudulent notes, such as hidden numbers, transparent text, metallic details, and raised ink. However, counterfeiters are adept at printing fake bills, and some criminals can even duplicate the features to pass visual inspection with the naked eye.
The best way to ensure your company isn’t accepting fraudulent bills is to buy counterfeit detectors to use at every point of transaction. In order to ensure you are buying the right counterfeit detector, follow this easy guide.
Select which type of detector will benefit your business.
Do you need a large, high-tech machine that uses multiple sources of technology to fight counterfeit schemes, such as UV light, infrared technology, and magnetic detectors? Or are you looking for something portable and simple?
Higher-end devices are made to be the most accurate machines on the market and are used by companies that handle large volumes of cash. In the middle you have the portable devices that are best used in low light and in areas where there isn’t much space to place and plug in a larger counterfeit detector. Be sure to select a counterfeit detector that is able to handle the new Canadian polymer bills.
Research which type of detector your company will need before you go out shopping for your device and save yourself the trouble of buying the wrong machine.
Learn about counterfeiting and detection technology.
The more you know about counterfeiting, the better protected you will be. Once you understand which technologies detect which security features and which features are often duplicated by counterfeiters, you can make a more informed decision when buying a detector. Find out which technologies are the most accurate for the types of currency you accept at your business.
Figure out how many detectors you will need to protect against fraud.
The high-tech detectors are the most accurate, but they are also the most expensive. If you have many points of transactions at your company, buying a higher-end detector for each cash register might not be feasible. Although counterfeit detectors are investments into your business’s future growth and profitability, you do not want to spend money you don’t have to detect money you might not receive.
Determine which type of currency you need to detect.
Make sure the detector you are buying identifies the security features on all the types of currency you accept at your company. Do you run a small Canadian business that only accepts Canadian bills? Do you also accept U.S. currency? If your business is international, you might see euros, pesos, rupees, francs, and yuans come through your cash register too. When shopping for a counterfeit detector, make sure the machine you are buying will protect you from fraud with every type of currency you might accept. Not to mention, ensure that the machine is up to date to detect the security features on newly printed bills as well.
Once you have taken the steps outlined in this guide, you will be more confident when it comes to buying your detector. Don’t accidentally accept counterfeit money. Counterfeit detectors are fast, durable, easy to use and, most importantly, accurate. You’ll be confident that you are not giving your hard-earned money to thieves. Buying a counterfeit detector pays.