Scammers target sellers with counterfeit King Charles III £20 notes in Chipping Norton
They had purchased high value items using the fake notes
People in Chipping Norton are being urged to watch out for fakes after two separate incidents involving counterfeit King Charles III £20 notes have been reported in less than a week.
Those affected were attempting to sell high-value items and discovered they were paid with counterfeit notes only after the transactions were completed.
There have also been further reports of similar incidents in the Witney area.
The fraudulent notes appear genuine at first glance but display several signs of being fake.
The edges of the holographic security strip are raised, unlike the smooth strip found on genuine polymer notes.
A major indicator of counterfeit currency is having identical serial numbers.
Genuine Bank of England banknotes each have a unique serial number.
To prevent becoming a victim of counterfeit currency scams, sellers are advised to employ safe payment practices:
Use bank transfer whenever possible, ensuring funds are received in your account before handing over items.
If accepting cash, consider meeting buyers inside your bank where notes can be checked by bank staff.
Be wary if a buyer changes meeting arrangements or sends someone else to complete the purchase.
Carefully inspect each banknote, looking out for security features like a transparent window, hologram, and raised print.
Avoid being rushed; take the time to thoroughly check payments.
Meet buyers in safe, busy public places covered by CCTV and bring someone along if possible.
Trust your instincts, and if something feels off, walk away from the transaction.
If you suspect you have received counterfeit banknotes, do not attempt to spend them.
Contact Report Fraud on 0300 123 2040 to report the incident, providing as much detail as possible about the buyer, any vehicles involved, and the timing and location of the sale.