One of our readers recently shared an experience with us that prompted us to take a closer look at our cash and the ways to spot and safeguard oneself from counterfeit bills.
“These crimes are unfortunately on the rise, as equipment for making counterfeit cash has improved in recent years. Never cash a check or break money for someone that you don’t know. You can check for things such as the bill’s texture, the watermark, or buy one of the counterfeit detector pens that changes colors if the bill is fake. Amazon carries those pens for under $10. Also, look at the serial numbers. Some counterfeiters will use the same exact serial number on multiple bills. Treasury notes always have different serial numbers. If you think you are the victim of a counterfeit bill, contact BCPD at (702) 293-9224 to let us know where and when you received the money. Do not try to spend it elsewhere.”
According to the United States Department of Treasury, approximately $70 million in counterfeit bills are currently circulating in this country. While that may not seem like much in the scope of the national economy, it can hit retailers and customers hard, especially during the holidays. Receiving $100 in counterfeit bills during a transaction is a significant concern when so much cash is being used and stores and people are busy and not necessarily looking for bad money.
One important thing we all can do is learn about the safety features built into United States currency. The government has set up a website (HERE) that teaches consumers what to look for in each denomination currently being circulated. One of the first things you may notice is that a bill “feels different”. Real US currency is actually printed on a special linen and cotton fabric, not paper. This fabric is embedded with blue and red fibers throughout. All US currency also has raised printing on the bill, meaning you can feel the print under your fingers. Counterfeit money is usually photocopied or printed onto different types of paper and doesn’t have raised printing.
For bills with denominations of $5 or greater, there are additional security features that have been built in to discourage counterfeiting. Two important security features include watermarking (a faint image visible when held to light) and security thread embedded in the fabric of the note. The security thread is imprinted with the letters USA and the denomination of the bill alternating pattern. The thread is embedded vertically and is visible from both sides of the note. It will also glow blue when illuminated by ultraviolet light. These bills also have microprinting along the edges that is visible with magnification. This security feature will often look solid or muddled on a counterfeit bill.
For bills with a denomination of $10 or greater, the Treasury Department includes color-shifting ink for the numeral in the lower right hand corner of the bill. The color will shift from copper to green, depending on the angle of the bill in your hand.
One hundred dollar bills also contain a 3-D security ribbon woven into the bill. The images on the ribbon change from bells to 100s and they move side to side if you tilt the bill back and forth. If you tilt the bill from side to side, the bells and numbers move up and down. Like the security thread, this ribbon is not printed on the currency but is woven into it.
Consumers can avoid passing counterfeit money by obtaining cash at trusted locations that employ additional security routines like bill scanning. Banks and ATMs would be unlikely to dispense counterfeit bills due to their internal processes for verifying the cash they have on hand. You can also purchase a counterfeit testing pen from an office supply store or online retailer like Amazon (HERE). Most people, like our reader, didn’t realize they had received counterfeit money until trying to use it at a location that performs additional testing on cash.
Retailers can protect themselves by teaching cash-handling employees how to check for authentic bills. The Department of Treasury offers a handy toolkit HERE that can be downloaded for use. Many businesses use testing pens or bill scanners to check the authenticity of the currency received from customers.
The Department of Treasury offers two mobile apps for both Apple (HERE) and Android (HERE) to help consumers authenticate the cash they have. Please note that the app WILL NOT identify counterfeit bills for you. It’s simply a tool to assist in looking for the built-in security features found in authentic currency.
If you find yourself in possession of counterfeit bills, please notify the nearest US Secret Service Field Office (HERE) to let them know where the bill(s) was received so that they can follow up. You may want to let you local law enforcement know as well. While the culprit who introduced the money into the cash system may not be located, it can be helpful for them to let merchants know that such bills have been found in the community,
We hope that everyone has a safe and happy holiday!
