Counterfeit money haunts West Coast businesses
When business picks up, owners and employees have a multitude of responsibilities and day-to-day tasks to keep on top of, the least of which is being on the lookout for counterfeit bills. However, criminal technologies make identification of such phony bills difficult, and it's usually not until after the fact that businesses realize they've been hoodwinked. This challenge makes cash counters an indispensable piece of business equipment, as many along the West Coast have recently learned.
Secret Service hunts source of millions in fake bills, three arrested in Nevada investigation
The scourge of counterfeit money is most pronounced in Northern California currently, where the U.S. Secret Service has been tracking millions of dollars in fraudulent monies, the San Jose Mercury News reported. The source said the service has confiscated $6 million in counterfeit bills during fiscal year 2016, a slight decrease from the $6.3 million collected in fiscal year 2015, but a large jump compared to $4.6 million in 2012. Special Agent David Thomas told Mercury News that the $6 million represents 10 percent of the nationwide total and that the agency conducts up to 75 investigations a year in Northern California, specifically focusing on the Bay Area.
Across the state border in Nevada officials recently concluded a counterfeit money investigation in Carson City that resulted in the arrests of three individuals, KRNV, the Reno NBC affiliate, reported. Officials said they had seized an entire manufacturing lab for counterfeit currencies, as well as fake bills at different stages along the counterfeiting process.
Cash counters help keep businesses on their guard
These latest incidents in California and Nevada are hardly isolated, as counterfeiting operations are underway all across the country. This fact makes is essential that businesses invest in cash counters that help protect them from criminals looking to prey on unsuspecting employees. As millions in counterfeit bills circulate around the nation, it's hard to maintain total awareness without having the right tools for doing so.
October 7, 2016