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Cash counters defend businesses against counterfeiting efforts

Cash counters defend businesses against counterfeiting efforts

Without solutions such as cash counters in place, retail stores and many other types of businesses expose themselves to the potential for fraud, lost revenue and many other unfortunate consequences. Despite the continuing efforts made by U.S. Treasury officials and federal law enforcement organizations, counterfeiting remains a potential problem for businesses that handle currency on a regular basis. This problem is felt more acutely among companies that are open to the public and interact with a wide variety of patrons on a regular basis. With the barriers to entry for counterfeiting falling as the tools to produce fake currency become less costly and more easily attainable, it's increasingly important that businesses address this issue.

Florida counterfeiting ring highlights spread of problem

In Tavares, Florida, a recent spate of counterfeiting efforts brought local attention to a widespread issue for businesses across the country. According to local news station WFTV, area police are searching for participants in a suspected counterfeiting ring, following an initial arrest. There may be as many as seven participants in the recent attempt to defraud local residents and organizations.

WFTV highlighted two incidents caught on tape at businesses in Tavares, which showed one suspect attempting to use an illegally produced $100 bill to make a purchase at a grocery store. Once that initial transaction was successful, the suspect then tried to break a second counterfeit $100 bill by asking for change while the teller's register was open. A second incident caught on a security camera involved smaller denominations but indicated how ubiquitous the criminal efforts to pass fake cash were in the area. A second and third suspect were seen spending counterfeit money at a fast food restaurant in the area. Police caught one suspect trying to make change at a cellphone store when the clerk noticed the money used wasn't legitimate and subsequently alerted law enforcement officials.

Counterfeiting is a crime that can hit any business in any area. Using cash counters allows organizations to quickly and accurately determine the legitimacy of any currency that flows into a company. Magnetic and fluorescence sensors, along with propriety detection techniques, make sure the currency scanned is legitimate. With cash counters in place, businesses can more confidently open their doors to customers and greatly reduce concerns about the intake of fraudulent cash.

February 2, 2016