A quick perusal of recent news stories using the keyword “counterfeit money” reveals the most simple and clear evidence that counterfeiting of US dollars is still a thriving industry. Many people assume that – with the pandemic causing lower volumes of in-store transactions - counterfeiting activity would similarly be much lower. But the data does not support this.
Two Packages, $136K of Counterfeit Currency CBP Officers in Chicago Seize Shipments Containing Funny Money
Fraudulent transactions have grown step-for-step with legitimate economic activity – and is booming as a result of the pandemic.
The Internet Crime Complaint Centre at America’s Federal Bureau of Investigation (FBI) reports that by June of this year, daily digital crime had risen by 75% since the start of stay-at-home restrictions, and that the number of complaints received in 2020 had already surpassed the total for 2019. In a new report, Interpol corroborated these findings, tracking the same trend across EU member countries.
Cashiers and Tellers Report Unable to “Feel” whether Money is Real or Not
During our twenty years of selling counterfeit currency detection equipment, one of the most common “objections” to our presentations that we have heard from companies both large and small is that they didn’t need our counterfeit detection products because they can train their frontline people to recognize fake money by hand – be testing how the paper feels.
When it comes to assessing your risk of identity theft and fraud, being digitally compromised in a major, headline-news-style data breach is not your only threat.
Media stories focus on huge data breaches such as the Equifax data loss in 2017 which compromised more than 140 million Americans’ personal data. In fact, data theft reached record levels in 2017, with over 1,500 reported incidents of hacking that exposed around 180 million records.
Several weeks ago, we began getting calls from a few clients asking us whether specific versions of MasterCard payment cards had omitted the use of the UV security feature on their card-stock. After receiving maybe half a dozen of these calls, we began trying to learn more about this.
I found the below article so compelling, and so important as it relates to the current environment of personal data hacking, and how to secure oneself from identity theft, that I have decided to reprint the article in its entirety here.
Topics: identity theft protection