How to Spot Counterfeit Money

Be extremely careful this holiday season when you make purchases with cash or receive cash from your bank. The Secret Service is reporting that counterfeit bills will be in high circulation. You should be aware of this so that you don’t become a victim.

The counterfeiters are bleaching $5 bills and using advanced color copiers to print up $100 bills. These new bills are passing the counterfeit pen test because they are being printed on official U.S. Treasury paper once the original ink is removed.

The crime of counterfeiting is big business. As a matter of fact, it’s a 600 billion dollar a year business. Counterfeiting has definitely increased in recent years due to the increase in job layoffs and the economic downturn. The counterfeiting of US bills doesn’t just happen in the US, it happens outside of our borders.

If you think when you walk in the bank that you are making a safe withdrawal, think again. It’s already been reported that counterfeit $20 bills have been dispensed from an ATM in the US.

If you want to be proactive and eliminate the possibility of become a victim take a look at the tips below.

There are several ways you can avoid being a victim of counterfeiters:

1. If it looks like a fake and feel like a fake, it’s probably a fake. I was standing behind a woman in line at a Subway restaurant. She attempted to pay for meal with what looked like a counterfeit $5. It looked very different from other bills. The bill was really very rundown, very light in color and to the naked eye it just didn’t look right. This brings me to my next point.

2. Look for the portrait in the background on the new bills. If you don’t see the background portrait then the bill is a fake. The women in the subway, her $5 bill did not have the portrait in the background. How did I know? The cashier held the $5 bill up to the light and there was no portrait. Needless to say, she did not accept the bill.

3. The seals on the bills should look nice and crisp. They shouldn’t look dull or faded.

4. There are red and blue fibers embedded in the bills. If you don’t see them, then it’s a fake.

As you do your Christmas shopping be aware of the bills you are receiving back from the cashiers. The economy is down and the last thing you need is the headache of being out $20, $50 or even $100. Take the time to look at the bills you are given don't become a victim.