Counterfeiting Money One of Oldest Crimes

By David Moore
Local Press Writer
MOORE CITY (LP) - “Counterfeiting of money is one of the oldest crimes in history” according to a source from the Secret Service.

In the 19th century counterfeiting was a grave problem. Banks issued their own currency near the time of the War for Southern Independence. It was estimated that one-third of all currency in circulation was counterfeit.

They also said “At that time, there were approximately 1,600 state banks designing and printing their own notes. Each note carried a different design, making it difficult to distinguish the 4,000 varieties of counterfeits from the 7,000 varieties of genuine notes. It was anticipated that the adoption of a national currency in 1863 would solve the counterfeiting problem. However, the national currency was soon counterfeited so extensively it became necessary for the Government to take enforcement measures. On July 5, 1865, the United States Secret Service was established to suppress counterfeiting.”

The Bureau of Engraving and Printing began putting security features on paper money in 1996. It was the first major design change since 1928. However, the problem has continued to this day.

Bureau of Engraving and Printing remarked, “Advanced copying technologies have helped raise the incidence of counterfeiting. Ink jet printers, color copiers, and scanners are just a few tools criminals use to create bogus bills. In keeping with the strategy of maintaining the security of our currency by enhancing the designs every 7 – 10 years, a new series of U.S. currency is being issued.”

Taken from the official Secret Service website, hear are a few practical tips If You Receive a Counterfeit.

"1. Do not return it to the passer.

2. Delay the passer if possible.

3. Observe the passer's description, as well as that of any companions, and the license numbers of any vehicles used.

4. Contact your local police department or United States Secret Service field office. These numbers can be found on the inside front page of your local telephone directory.

5. Write your initials and the date in the white border areas of the suspect note.

6. Limit the handling of the note. Carefully place it in a protective covering, such as an envelope.

7. Surrender the note or coin only to a properly identified police officer or a U.S. Secret Service special agent."

That is all for now from the Moore City News.