When dealing with counterfeit cash, money counters are a great way to mitigate the negative impacts on business operations. Many establishments will only find out they've received fake bills well after the fact when the bank calls them and lets them know the bad news. With these machines in the office, the counterfeits are much quicker and easier to identify, thanks to multiple technologies that verify paper quality, use and density of magnetic inks, and other security features found on U.S. currency.
More importantly, if a criminal is caught slipping the fraudulent cash, law enforcement may have a lead to find more fake bills, which can prevent financial damage to other businesses.
What makes counterfeiting operations, both large and small, so much a hindrance to business is that there is often more than one bill being circulated locally once they start making use of them in a specific business area. Sometimes the fake bills may even be handed back to customers, who hand them off to other businesses thinking what they have is legitimate. So it's essential for retailers to work closely with law enforcement to quickly identify and catch criminals passing off this cash as real.
Recently, in Newtown, Connecticut, law enforcement officials were able to successfully capture and arrest three individuals based in New Jersey and New York City after they passed counterfeit money to clerks at a Walgreens in town. The pharmacy was able to successfully alert police about the suspicious individuals, getting enough information for them to be tracked. Officers were able to successfully flag the car as it was going down Interstate 84 and detain the individuals. Inside their cars were more than $8,000 in counterfeit bills, along with other contraband.
When dealing with petty criminals, some will go out of their way to make fraudulent purchases with counterfeit bills, even for basic items such as food and drink. Sometimes, the basic tools or visual reference may not be enough to identify features that clearly show the bills to be fake. That's where money counters can play a major role. They can use both ultraviolent and infrared light to instantly determine both paper type and print quality. The latter is particularly useful against counterfeits that are based on washed bills.
May 29, 2015