Fraud Prevention Blog

Preparing Your Business for the Fraud Liability Shift

Posted by Stephanie Cho on Mon, Sep 14, 2015 @ 08:56 AM

In the previous post, we discussed what EMV and the fraud liability shift are as well as how it will affect businesses, especially small businesses. In this post, we will focus on helping you build a successful strategy that will protect your business from the upcoming fraud liability shift as well as discuss why this strategy will help protect your business from fraud.

Topics: counterfeit detection, fraud prevention, fraud liability shift, fraud liability, emv, counterfeit detector, UV counterfeit detector

Comparing UV Detectors and Automatic Detectors

Posted by Sean Trundy on Wed, Jul 29, 2015 @ 12:02 PM

Modern counterfeit detection relies on a wide range of specialized detectors, but there is a surprising range of options out there. Most counterfeit detectors fall into one of two major categories, UV detection and automatic detection—but which is right for your organization?

Topics: counterfeit detection, counterfeit money detectors

Could This New Technology Prevent Counterfeiting?

Posted by Sean Trundy on Mon, Jul 27, 2015 @ 12:03 PM

Scientists out of the National University of Singapore have found a method of utilizing nanohole technology to potentially prevent the counterfeiting of documents, credit cards, currency, and ID cards. The new technology was designed to incorporate over 34,000 nanoholes on an "ultra-capacity nano-photon sieve" surface. This surface would ensure that holograms could not be replicated by counterfeiting fraudsters.

Topics: counterfeit news, counterfeit money, counterfeit fraud, counterfeit detection, counterfeit credit cards, counterfeit ID, counterfeit fraud prevention

Reliable Detection Processes for Fake Bills

Posted by Sean Trundy on Wed, Jul 22, 2015 @ 12:40 PM

Counterfeit money has been around as long as authentic money. Even some of the very first western coins were not exempt from counterfeiting, and realistic-looking plated copies have been found. Prior to paper money, counterfeiting was actually quite time-consuming and involved mixing nearly worthless base metals with genuine silver or gold. With the advent of paper money, counterfeiting became easier and more profitable. Today’s fraudsters simply need the right kind of paper, a good printer and decent computer graphics skills to print their own fake bills.

Topics: counterfeit money, fake money, counterfeit fraud, counterfeit detection, counterfeit money detectors

Empower Point of Sale Employees With Fraud-Fighting Technology

Posted by Sean Trundy on Tue, Jul 21, 2015 @ 01:52 PM

Employees tasked with running cash registers and point of sale (POS) systems are a store’s first defense against check and currency fraud. Training point of sale employees to detect fraudulent identity documents, counterfeit money, and other problematic materials is an essential part of bolstering a company’s resistance to loss and theft. However, even the best training programs cannot take the place of specially designed fraud resistance equipment. Items like counter-mounted ultraviolet lights provide valuable support in loss prevention and company security.

Topics: fraud protection tips, retail fraud, counterfeit money, fake money, counterfeit fraud, counterfeit detection, fraud prevention protection, counterfeit fraud prevention, counterfeit money detectors, fraud prevention

Making the Case for Ultraviolet Counterfeit Detectors

Posted by Sean Trundy on Wed, Jul 08, 2015 @ 08:39 AM

For as long as governing bodies have released official documents and notes, counterfeiting has been an accompanying issue. This deceptive practice dates all the way back to ancient Rome, when counterfeiters would actually shave small flecks of gold and silver off of coins in order to make their own money. In this perpetual game of cat-and-mouse, it often seems like counterfeiters are always able to stay one step ahead of countermeasures

Topics: counterfeit money, counterfeit fraud, counterfeit detection, counterfeit credit cards, counterfeit ID, counterfeit fraud prevention, counterfeit money detectors

How to Detect a Counterfeit $20 Bill

Posted by Sean Trundy on Mon, May 11, 2015 @ 11:55 AM

Counterfeit money damages the U.S. economy and can substantially impact businesses of all industries. Through the end of 2013, as much as $103 million in counterfeit U.S. currency has been smuggled into the United States from South America. Peru is of particular concern. Because of the involvement of the drug cartels in the industry, counterfeiting has become a professional occupation with journeyman counterfeiters that have driven the Peruvian counterfeits to previously-unseen levels of quality.  Of all denominations, in the United States, the $20 bill is the most commonly counterfeited. 

Topics: counterfeit detection

Detecting Counterfeit Money

Posted by Sean Trundy on Mon, Apr 27, 2015 @ 10:48 AM

The modern era of counterfeit money production has enabled anyone with a home computer, a scanner and a high-quality color printer to open-up-shop and become a counterfeiter. Easy access to counterfeit-capable technology makes loss prevention and counterfeit bill detection increasingly important for small and large retailers alike.

The bottom line is: counterfeiting can affect your company's bottom line. Your business will likely incur a loss in time, productivity and resources in addition to the forged face value of the worthless counterfeit. The 2014 Lexis-Nexis True Cost of Fraud survey, conducted annually, suggests that the “soft costs” associated with fraud typically equals more than 3-times the face value of the fraud itself.

Topics: counterfeit detection

July 16, 2014 - Think We’re Moving to a Cashless Society? Think Again!

Posted by Sean Trundy on Fri, Jul 18, 2014 @ 08:20 AM

It is a widely held belief these days that the end of the “cash economy” is upon us.  With rapid growth in online commerce, it would be understandable that many might assume that before long, we won’t even be able to use a physical payment instrument in the future. And, with the use of the second-most popular physical payment option - the personal check - sharply on the decline over the last decade in favor of payment cards, especially debit cards, it seems a reasonable assumption.

However the Diary of Consumer Payment Choice, conducted in October 2012 by the Boston, Richmond, and San Francisco Federal Reserve Banks, suggests otherwise.  Consumers choose to use cash more frequently than any other payment instrument, including debit or credit cards.

Topics: counterfeit detection

April 1, 2014 - To Detect Counterfeits, Check EVERY Transaction!

Posted by Sean Trundy on Tue, Apr 01, 2014 @ 11:27 AM

Would You Have checked his $100 Bill for Counterfeit?

When training your workers to detect and deter forgeries, they have to be told not to profile customers. 

Topics: counterfeit detection