Counterfeit Money is on the Increase

May 5, 2018 by Fogh Abildgaard

If someone asked you to accept a U.S $1 million dollar bill you would no doubt understand the bill has to be a fake, because these large-denomination currency doesn’t exist in the united states. However, surprisingly, there has been instances of people actually trying to use these invoices when making purchases. One example is of a man who, one Saturday in 2006, tried passing the bill at a grocery store in Pittsburgh. Another case is where a girl in Georgia attempted to purchase more than $1,500 worth of product at Wal-Mart. Obviously the police were called and in both cases the people were arrested. Most times, however, forgeries, or fakes, are not so evident.

Take the instance in the UK using their #1 coins. Up until a year or so ago it had been thought by the Royal Mint that something like one in twenty five1 coins were fake. That figure has now been revised to one. And now assessing coins for whether they are fake or real is big business on your own. 1 company which produces machines to check coins asserts that 5% of coins tested are fakes. Anyone who accepts coins onto a large scale, such as car parking businesses, vending machine operators, much banks, are getting very concerned over the number of forgeries in existence.

Fake cash has been moving nearly as long as the real article. It is regarded as easy money, and almost anyone with a computer and printer can create fake notes. The quality is reduced naturally, but chances are some will probably be in circulation at any given time, if just for a short period. Professional gangs take much more care on getting the caliber up to a high standard and they flood the marketplace with all the forgeries. Throughout the second world war, the Nazis tried to forge US Dollars and British Pound notes, and managed to produce huge amounts of them. Considering that undetectable counterfeit money for sale of Euro currency in 2002 that the forgers have been hard at work copying it. It is even reckoned that North Korea produce US bucks, though some feel such high quality notes are somewhat more inclined to be produced elsewhere. The struggle against fake cash is ongoing, and although governments come up with more sophisticated ways to make their money more difficult to copy, somebody will always come together with equally sophisticated procedures to cancel the changes out. Remember that legally, if you see a fake note or coin, you should not pass it on, but hand it in to the government. This makes that particular cash useless as far as you are concerned. The majority of us therefore just tend to take that the money we have in our pocket is alright on the foundation that what we do not know (or look too closely at), can’t hurt us.