Bank of England app helps spot fake banknotes

The Bank of England has launched a smartphone app to guide people wishing to check the authenticity of bank notes.

The app - Bank of England Banknotes - is free to download and enables users to view all current UK banknotes and some of their security features. It is aimed at people who frequently use banknotes, as well as retailers/businesses and the police, and offers detailed images of all current banknotes together with a backlight function and viewing under ultraviolet (UV) light.

The app also offers general advice, including what to do if you think you have a counterfeit banknote. It is available for both Apple iOS and Android devices.

In 2015 around 243,000 Bank of England counterfeit banknotes were taken out of circulation with a face value of around £5m, well down on from the £8.1m intercepted in 2014 and almost £12bn seized in 2013.

This is just a tiny proportion of the genuine banknotes in circulation - an average of over 3.3bn with a face value exceeding £65bn.