Do you know how to spot counterfeit money?

Do you know how to spot counterfeit money?

The U.S. Secret Service is responsible for investigating counterfeiting operations but as a matter of policy, they do not comment on the number of phony bills believed to be in circulation in specific cases. Businesses must be pro-active in protecting themselves from being victims of this type of fraud.

Many businesses use special pens to detect counterfeit currency, however the pens cannot give a definitive confirmation about suspected altered currency, and are not sanctioned by the US Treasury. Merchants who suspect they have given counterfeit money can turn to banks for help. Banks work closely with government investigators, use technology that with a good deal of certainty can identify if paper currency has been altered and reports cases of counterfeit money to the Secret Service.

The Secret Service says there are a number of ways to detect counterfeit money:

    • Hold a bill up to light and look for a holograph of the face image on the bill. Both images should match. If the $100 bill has been bleached, the hologram will display an image of Abraham Lincoln who appears on $5 bills, instead of Benjamin Franklin.

    • Looking at the bill through a light also will reveal a thin vertical strip containing text that spells out the bill’s denomination.

The Secret Service has a Web site, www.secretservice.gov that explains security features used in U.S. currency to help merchants and the public identify counterfeit money. This information can be accessed through a link under “Investigations,” in a section called “Know Your Money.”

Additional information is posted on the Bureau of Engraving and Printing Web site: www.moneyfactory.gov.

Unfortunately, if someone slipped you a counterfeit bill, you cannot recoup your money. Businesses however, may claim losses due to counterfeit money as an income tax deduction.

Bonkers
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100 dollar bills

One can hardly spend a hundred dollar bill anymore in most any store.

Banks will take good ones after they check them their way, but your picture will be taken and you may be fingerprinted.

A much bigger problem is fake products as far as cheating people out of their money. There must be several scores of channels on TV conning people who can't resist a private sale.

One of the worst though are the former TV and movie stars who con people into spending the equity in their homes (they only get about half of it), trying to loan a thousand dollars to people who can't get by until payday! They must make 8000 dollars a year is the only requirement. The interest is....well you know.
Title loan people are probably the worst. They usually screw poorly paid servicemen and their wives. Never understood how these people could have a car title if they haven't had any money. Yet they say, I got my title back!!!!
Stocksellers who only want $9.99 per stock trade which you do yourself by Internet. Can't you just picture ignorant buyers trading 1-200 times a month until they run out of $9.99 X 200 = $2000 per month, and losing thousands on poor stock choices.

Cars that sell for $199 per month for five years and then a balloon comes due for half the original value! Oh well , add it to the next car for the same deal. I never do see what the principal is! Wouldn't a large car cost one about a million before you got out of it?

Counties like Fayette continually want to raise one's taxes and "fees," (taxes also!) This, when 11% are unemployed and another 11% are underemployed! Vacant property also is worth what it was five years ago as far as taxes are concerned. None have sold there for years.

Yet, the banks are selling whole sub-divisions to wealthy investors at maybe as little as 10% of their original worth. They will make them livable and rent them to those who lost their homes.

I could go on but believe me, bad $100 bills are the least of our problems.