Cash counters help small businesses prevent counterfeit losses
Businesses can protect themselves and measure accurate revenues with the help of cash counters. Thanks to new printing technology, counterfeit dollars are becoming easier for criminals to produce in large quantities. According to Wise Bread, the United States Secret Service seized nearly $89 million in counterfeit currency in 2013 alone. That number is expected to be larger by the end of 2016. Businesses can protect themselves and their revenues by investing in money counters with added counterfeit detection services. Advanced machines can process up to 1,600 bills per minute and store data in four levels of memory, giving employees and business owners time to focus their efforts on other day-to-day operations.
The price of counterfeit currency and cash counters
Counterfeit money is used more commonly today than businesses think. According to the News-Sentinel, a Fort Wayne, Texas, man was seen entering and exiting a store having purchased items with four $100 counterfeit bills in March 2016. This comes in a string of counterfeit crimes across the United States. According to the Herald Online, the Rock Hill Police Department of South Carolina found a man who participated in an illicit counterfeiting operation in March 2016. The man was charged with two counts of forgery for carrying nearly $2,000 worth of counterfeit money. The individual was eventually apprehended for his crimes.
Innocent business owners can become victims of counterfeit purchases if proper measures are not taken. For example, retail, restaurant, bar and cafe staff should all be trained in the process of checking dollars to see if they are counterfeit. For any money that cannot be determined, a cash counter should be used to determine its status.
Why invest in a cash counter?
Cash counters are useful for businesses, as they quicken processes and give both store managers and associates more time to focus on customer service instead of repeatedly checking dollar bills using a black light. Proper cash counters should be able to handle 1,600 bills per minute and scan serial numbers to detect counterfeits. According to Federal Reserve Bank Services, you must report all findings to a local United States Secret Service office should your business encounter counterfeit currency. By investing in a cash counter, businesses can accurately help the government track down counterfeit bills and report earnings for the month at a simple convenience.