Passing Counterfeit Money Through Retailers & Hospitality is a Multimillion Dollar Industry
The Effects of Counterfeit Currency
According to the United States Department of Treasury, an estimated $70 million in counterfeit bills are in circulation today and that number is quickly on the rise. As stated by the law enforcement, the bulk of those victimized by counterfeiters are large big-box stores, convenience stores and fast-food restaurants with high customer volume and lots of cash exchanged.
How to Identify Counterfeit Money
Most often, retail associates don’t know how to identify legitimate money, or they rely on the simplest of all anti-counterfeiting tools; the counterfeit pen. Unfortunately, the pen can only detect fakes printed with a basic laser printer while, today’s counterfeit market is getting bigger and much more complex. One of the most common techniques counterfeiters use involves bleaching legitimate money and altering the bills to look like $100 notes, a technique that a pen will not detect.
This makes it imperative for business owners to implement strategies to help minimize losses from receiving counterfeit money. There are two simple steps you can take today to protect your business against counterfeit cash:
1. Train your employees to get into the habit of checking $20, $50 and $100 bills
2. Employ currency detectors at every cash register
To learn more about products designed to eliminate the flow of counterfeit bills through your cash register, go to: https://www.cassidausa.com/counterfeit-detectors