Report on the operations of B1B (Sir Edward Reid) in connection with financial and currency enquiries during the war 1939-1945

  • Catalogue ref: KV4/465
  • Date: 13/10/1942 - 14/08/1945

The two reports which constitute most of this file analyse in great detail the banknotes used to pay German agents including Snow, Rainbow, Cheese, Celery and Pogo. The file also contains analysis of the use of German forgeries of Bank of England notes and a history of the Security Service section which carried out the analysis. Evidence is cited that the Germans, through the Reichsbank, were deliberately importing British Bank notes as part of their preparations for war in August 1939. There are reports that the Germans were forging British bank notes in 1940 with the object of 'scattering them over the country from the air at the time of their planned invasion of the British Isles, in order to create a loss of confidence and general confusion'. The report concludes that the German objective of destroying confidence abroad in Bank of England notes 'has been achieved' as 'at present no one will accept a Bank of England note in any neutral country of Europe except at a very large discount'.

File KV4/465 is available to view online.