Counterfeit money has never been easier to create. A high-quality laser printer, the right paper and a little knowhow is all that is needed. The proliferation of fake money is a real problem, and the cost to businesses can be high. Check out some of the latest trends.
Interesting Fake Money Facts
All it takes is $20
With 9.2 billion $20 bills and 12.5 billion $100 bills in circulation, twenty and hundred dollar bills are the most counterfeited currency.
It’s not easy to spot a fake
Paper, ink color, security threads, watermarks; there are 5,900 different types of fake notes, so as counterfeiters get more sophisticated, it is more difficult to detect a fake.
Banks can pass fake bills
If your bank passes you a fake bill, you are out of luck once you leave the institution. They are not obligated to reimburse you.
Fake money is big business
In 2017, $73 million in counterfeit money was taken out of circulation. In one case alone, $33.2 million worth of fake notes was seized.
The Dark Web makes buying and selling easy
Criminals can order counterfeit money from the Dark Web and have it delivered within a week, easily adding fake money to the economy.
Identify counterfeit bills with the right money counter
The answer to finding counterfeit money is to use money counter machines with counterfeit detection capabilities. This lets organizations know when they are handling false bills and helps better control money management.
Cummins Allison’s JetScan iFX cash counter catches even sophisticated fakes with some of the best counterfeit detection in the market. Tens of thousands of businesses across the country trust Cummins Allison to handle their money with speed, accuracy and reliability, backed by superior service.
Talk to a sales professional, who listens to your needs and matches you with the right money counter for your operation and budget. Start protecting yourself now from counterfeit money in your operations.