Polymer banknotes caused sharp fall in UK counterfeits – BoE

Money new five 5 pound note
Since polymer £5 notes were launched in September 2016, only 46 fakes have been detected

Fewer than five counterfeit polymer notes are being reported to the Bank of England every month – a sharp reduction since the denominations were in circulation as paper notes.

Figures released by the BoE under the Freedom of Information Act state that since polymer £5 notes were launched in September 2016, only 46 fakes have been detected. Furthermore, since the introduction of the polymer £10 in September 2017, only 63 counterfeits have been found.

The central bank said “there were 284

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