Tom Luxsox Coins

Old Money

The Scam of Using Counterfeit Money

 

Henry Wade is a respected criminal defense lawyer of The Wade Law Firm in Texas, and according to him, people are counterfeiting an array of documents today in order to gain money they have not rightfully earned. Not only are bills being counterfeited, but so are checks, money orders, savings bonds and stock certificates.

 

The term counterfeiting broadly refers to making a false duplicate of something in the hopes of passing it off as genuine. In criminal terms, it mainly applies to monetary copies.

 

Inexpensive Endeavor

In the past, counterfeiting money was an expensive endeavor that required access to large printing presses and a detailed eye that could replicate the designs illustrated on money to be mass produced at a high quality. Now, however, if you have access to a computer, scanner and ink jet printer, you have the means to pull off a fake treasury branch right in your own home. Scan a $5 bill into your computer, increase the definition and hit print. Out will come your replica bill.

 

New Security Features

The United States Treasury started to print new $50 and $100 bills in 1996. This was followed by the $20 bill in 2003, the $10 bill in 2005, and the $5 bill in 2008. All bills in circulation after these dates come equipped with these new security features that have equated to the use of fewer counterfeit bills:

 

1. A magnetic serial number is implanted in each bill.

 

1. Color-shifting ink gives some aspects of the print a shimmering effect.

 

1. Details on the features of the bill, including the portraits, are precise and specific, and fail to be easily replicated.

 

1. The bill is imprinted with a pattern of light, fine lines in hexagonal patterns.

 

1. Tiny numeric numbers are scattered on the back of the bill in specific patterns.

 

1. Watermarks containing the same portraits that appear on the front of the bills are visible when held up to a light source. For a $5 bill, this would be miniscule "5s", and for the $10 bill, a billion "10s", and so forth.

 

Special pens have also been designed to help distinguish between a real bill and a fake one. In addition, when a bill is printed, it is placed on very thin paper and then that paper is run through machines that exert extreme force, thinning the paper out even more. This is what gives money its distinct feel.

 

Fake Checks and Money Orders

More and more bills are being minted with intricate details, fine lines and much thinner paper than the average printer has available, so individuals who still seek to create monetary replicas have moved beyond scanning their old money.

 

Now people often issue fake checks and money orders in the hopes that they can get an unsuspecting victims to cash these checks for them at their own banks. It usually takes a bank a few days to determine that a check is fraudulent, so the innocent party is left with the penalties of a bounced check, while the other person makes off with the money, never to be heard from again. This particular scam is mostly used in purchasing cars, boats and other high-priced items.

 

Related Penalties

It seems more elaborate than the old standard of exchanging fake money for goods, but the practice is on the rise, especially as more store owners and everyday citizens have become more aware of false bills.

 

If you are tried and convicted of knowingly trying to use counterfeit money or checks, then you can face imprisonment and astronomical fines, most of which will double, if not triple, the amount of money you were able to originally scam. On the other hand, if you have counterfeit money but you honestly had no idea that it was a fake, and you never consciously intended to use the money to cheat the government, you will probably be forced to forfeit the fake bills without compensation.

About the Author

Henry Wade is a writer for Yodle, a business directory and online advertising company. Find a<a href="<a href="http://local.yodle.com/articles">http://local.yodle.com/articles">lawyer</a> or more <a href=" http://local.yodle.com/articles/topics/legal-services/">lawyers</a> articles at Yodle Consumer Guide.

 

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