Our tips for avoiding counterfeit money scams between individuals

Far from the idea of them in the movies, there aren't several billion counterfeit euros in circulation, but the Banque de France still took nearly a million out of circulation in 2015, compared with nearly 700,000 in 2011. This figure has been rising over the years. The easiest way to use this counterfeit money? Between individuals, of course! And as the saying goes, "it doesn't just happen to other people...".

Don't you carry a felt-tip counterfeit detector in your pocket? Don't you scan every €2 coin to make sure it's a European coin? Rest assured, this is normal, and the opposite would have been rather surprising. Even if this is the most discreet of scams (some people who fall victim to it simply never realise it and use this counterfeit money without even knowing it), it's still a scam that shouldn't be ignored, especially when it comes to relatively large transactions that you choose to pay for in cash.

Don't try to distinguish between real and counterfeit money, you won't succeed.

No offence is intended, but it's a fact. Even if some crude imitations remain in circulation, counterfeit money is generally extremely well produced and even some experts could be fooled. You might as well say that a private individual has no chance of distinguishing between a real and a fake banknote, and the same goes for coins. And even if the money being handed to you were an obvious imitation, very few people would have the reflex to look at it.

The worst thing about all this is that the buyer, who pays you with counterfeit money, may not know it either. So it's not an intentional scam, which makes it all the more peculiar. The buyer's behaviour can therefore be perfectly normal, insofar as he has absolutely no idea what he is doing.

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Retailers' equipment detects counterfeit money and can seize it

Counterfeit notes in particular. The vast majority of businesses are now equipped with solutions capable of recognising counterfeit notes and thus highlighting the scam. So once you've sold your property, when you want to use it to buy something else, it's highly likely that the cash used will be identified as counterfeit. Once it has been identified, more and more businesses are seizing this money and sending it to the Banque de France for inspection. The holder of the counterfeit money is therefore stripped of his money, with no recourse.

As well as being embarrassing, this situation can be costly.

Finally, if you realise that you are in possession of counterfeit currency, you should go to the Banque de France to have it checked and leave it there if it is indeed counterfeit.

Refuse to accept large cash payments

Most buyers will prefer an alternative to cash rather than carrying around several hundred, if not thousands of euros in cash. It's good to know that the least counterfeit denominations are usually €100 and €500. However, it's important to know that when a cash payment between two private individuals is €1,500 or more, a written record of the transaction and its amount can be used as an invoice, and must be signed by both buyer and seller. But the risks remain, and this requires an additional step that is not the most practical, in addition to its validity, which could potentially be disputed.

There is still the option of asking the buyer to make the withdrawal in front of the seller, but this is often refused and gives rise to certain fears on the part of honest buyers, who see it as an attempt to steal the card or code. What's more, withdrawal of large sums is sometimes impossible because of withdrawal limits.

Opt for reliable paperless payment

An excellent alternative to cash payment is dematerialised payment. We offer you a secure method of payment between private individuals. Why use Obvy? Quite simply to avoid any problems by protecting you from all the scams that can occur when you buy on Leboncoin, Facebook, Paru Vendu, Ebay or anywhere else. The buyer sends you a promise to purchase, and the money is held in a secure account until the item has been delivered to them in person or by courier. Everything is perfectly secure, simple and fast.

Say goodbye to notes, ATM withdrawals and the little doubts that can hurt your wallet. Obvy is the only universal payment method that can save you from all the possible scams.