Cash counters are a great deterrent against counterfeit money. Because the ability to create fake bills is less resource-intensive now than it was just a few decades ago, any customer is also a potential criminal. Whenever a fake bill gets into the system, the person or store who finds out is the one who loses money as a consequence, and it can hurt customer relations. It's essential that businesses take the first step to prevent the inflow of counterfeit dollars from disrupting sales and operations. These machines provide a variety of security measures that can easily detect frauds through the paper and ink used by the perpetrators.
Counterfeit cash is a problem in the U.S. that's impossible to ignore. While in recent years, the technology and sophistication of creating fake bills is high enough for anyone to be a potential criminal, national operations will still appear from time to time. They tend to represent a slight step up from the usual small-time crooks by scaling up the technology, and not possessing such complex machinery as offset printers that can create bills. However, businesses should remain vigilant when these gangs appear and start passing money in various locales.
Recently, a bust in Seal Beach, California, south of Los Angeles, demonstrated how these practices grow nationwide and even leave the country. According to ABC 7 and the Los Angeles Times, the Seal Beach Police Department arrested eight individuals linked to two criminal gangs in the area as part of Operation Money Wash. It also worked in conjunction with other local law enforcement agencies and the U.S. Secret Service to raid 15 sites across Southern California and recover evidence such as weapons, bills, computers and printers. Subsequent tips meant police found $100,000 in fraudulent money all around the country and even places like Jamaica.
The likely method of producing counterfeit cash was to wash low-value bills and reprint them with images of higher denominations. The reason to create the bills, however, was to raise real money through a con. Criminals would pose as customers, purchase something at a major or high-end retailer with the fakes, then return a couple days later requesting a refund, which they received in real cash. Because of this tactic, businesses have every reason to possess a money counter for counterfeit detection. Through this machine, stores can avoid the loss and embarrassment that comes from this activity.
December 14, 2015