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> If ATM or teller handed out cash, you can't simply cancel that. I wonder if it's possible to specifically cancel the serial numbers of the cash that was frau

by hx87 10y ago

> If ATM or teller handed out cash, you can't simply cancel that. I wonder if it's possible to specifically cancel the serial numbers of the cash that was fraudulently withdrawn. In other words, make it no longer legal tender. Of course, the problem is how the acceptor of the cash knows that it is fraudulent, but perhaps a public list of serial numbers known to be fraudulent would be a start?

PeterisP 10y ago
The cash is still legal tender, but it can be used to catch the culprits. IIRC currently around half of cash travels just for a single transaction (i.e. ATM->person->shop->bank); and ATMs would know which particular serial numbers were handed out; so for a large case you can find out where the particular banknotes were spent and that can be combined with camera recordings to find the involved people. But in an automatic way, no, a public list of known fraudulent serial numbers would not be sufficient in the current legal environment; it would be impractical to mandate everyone to check such a list at every transaction for every single banknote.