It is often said that the act of counterfeiting money is as old as money itself. No matter the type of currency used throughout history – whether it was the metal coins used in Lydia in 640BC or the cowry shells that were used as currency in Orissa, India until 1805 – there was sure to be someone intentionally attempting to pass off a counterfeit version as the real thing.
Recently, a news story was featured on CBS 2 News Cedar Rapids, Iowa, that highlights the circulation of counterfeit money that has targeted the area. The town is not exactly the type of market we imagine counterfeit currency thieves to target. We typically associate such a crime with large markets and big scale merchants. The Lion Bridge Brewing Company was the targeted business that had discovered that they had accepted counterfeit bills.
Black market websites, located in the “deep web” are known for supplying sophisticated criminals- typically hackers- with information that will allow them to compromise a person’s identity. Personal information is typically the main commodity on such sites although, it is common to see transactions for illegal drugs, credit card data, malware, and spyware and in some extreme cases, even contracts for murder have been bought and sold on the deep web.
I really can't give the Federal Reserve or the Bureau of Engraving and Printing a hard time. The new $100 bill is an attractive and quite secure banknote. Without doubt, the most secured note produced, to date, by the United States.
I read an interesting Article yesterday on Motley Fool, one of the sites where I go for relevant and timely infromation about the economy and individual stocks.
Criminals interpreted the American prospect of “making money” quite literally in the past month, rallying authorities into attention and cashiers into caution as money counterfeiters struck all over the United States with counterfeit bills. The poison fruits of this federal felony – one that rouses the Secret Service into investigation – sprung in varying capacities and surprising locations.
A few days ago, I typed the words “Washed $100 Bill” into Google News, and below is the first page of results. There were counterfeit money stories in newspapers and other publications from all around the U.S. In fact, in December, alone, through 16 days, there were 37 separate news stories on the topic featuring the words “wash” and “$100”.