Currency Office Publishes Procedure for Reporting Counterfeit Currency

The Currency Office of the Velocity Interoperability Network today published its procedure for the reporting of suspected counterfeit currency. A person who receives a note or coin they believe to be counterfeit should not pass it on, should record when and where it was received, and should report it to the Office at contact@currency.gov.vin, quoting the serial number of any note. The Office confirms each report by email with a reference number and instructions for surrendering the item for examination.

Every item surrendered is examined by the Office and a determination is issued within ten working days. Genuine items are returned to the person who surrendered them. Counterfeit items are retained; no reimbursement is made for them, and the Office refers the circumstances of each detection to the appropriate authorities of the Network.

During the transition period from 10 August to 5 September 2026, fourteen counterfeit notes were detected among the 4.19 million notes of the Interim Issue in circulation, a rate of 3.3 per million. Eleven were imitations of the 50 credit note and three of the 20 credit note; no counterfeit coins were detected. The Office will publish counterfeit detection figures quarterly alongside its statistics on currency in circulation.