What Should You Do if You Receive Counterfeit Money?
Cash is always great, but in today’s digitally-dominated world, it seems to be becoming increasingly scarce. If you don’t handle cash often, it can be difficult to determine a genuine banknote from counterfeit currency. Whether it is for work or you were given a questionable gift, you don’t want to be left sitting on a pile of fake money.
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What To Do If You Receive Counterfeit Money
Receiving money you suspect to be counterfeit can be an awkward transaction. You may not be certain if the bill is fake, or even if the person who gave it to you is aware. Either way, you don’t want to be stuck with money that has no value so here are some steps you can take:
Step 1: Do not return the suspected fake note back to the person who gave it to you. If you receive fake currency at work, contact your manager or security straight away. Returning it to them only puts the money back in circulation which should be avoided.
Step 2: Try not to make your hesitation obvious. It’s possible the person who gave you the money may not know it is fake, but if they do, they could be printing this money themselves.
Step 3: Make mental notes of the person’s description in case they leave. If you have to file a police report, physical descriptions of the person as well as the type of car they drove or any companion that was with them will go a long way. Especially, if they were able to get you to take the money without you being aware straightaway.
Step 4: Contact your local police department or the United States Secret Service and report what type of counterfeit bills were trying to be passed and by whom.
How To Tell if Money Is Counterfeit: 8 Ways
With a close eye on the details, you can tell if money is fake or counterfeit. Here are eight ways you can recognize counterfeit money:
Texture of the paper
Watermark
Ultraviolet features
3D security ribbon
Color-shifting ink
Microprinting
Raised print
Irregularities
1. Texture of the Paper
One of the biggest giveaways indicating if the bill is real or not is how the paper feels in your hand. Real bills have a specific printing process and only use a special type of paper. This paper has its own distinct texture and feel, so if you suspect you were just given counterfeit currency, a great way to check is to compare it with other paper money you have on hand.
For example, no matter if it is a real $10, $20, $50 or $100 note, here are some features to look for:
The paper should be slightly rough to the touch.
If the bill feels smooth or glossy like regular printer paper it is likely counterfeit.
If you are doing a side-by-side comparison, money of the same series or denomination should not vary in size, design or security features.
2. Watermark
When you check to see if there is a watermark, hold the bill up to a light. You should see a faint image that matches the portrait of the bill. Though some older bills don’t have a watermark, for the most part, they are being moved out of rotation.
One thing to look out for is reprinting money on real currency paper. For example, if some scammers bleached a bunch of real $5 bills, and reprinted them to seem like a standard $100 bill, the texture of the paper would be legitimate, but the watermark would be Abraham Lincoln and not Benjamin Franklin. This would indicate a counterfeit $100 bill even though it’s real money.
3. Ultraviolet Features
If you are someone who works with a lot of cash such as a bank teller, bartender or someone in retail, having an ultraviolet light or pen will help you spot counterfeit bills. A genuine bill will show fluorescent markings when held to your ultraviolet light source. Ultraviolet tools are generally inexpensive and are good to have at your disposal.
4. 3D Security Ribbon
Security threads or ribbons now come in most genuine bills. Though this ribbon always runs vertically through the bill and is essentially woven into the paper, the location of this embedded strip will vary depending on the denomination of the banknote. Here are some examples:
The embedded thread in a $20 note will be on the side of the bill to the left of the Federal Reserve Bank seal. It will have the “USA” and “TWENTY” printed in an alternating pattern and will be visible from either side of the bill.
On a $100 note, the embedded security thread runs vertically to the left of the portrait. It should have “USA” and “100” printed on it that is visible from both sides of the bill. If it does not, it is most like a counterfeit note.
5. Color-Shifting Ink
There are a lot of subtle details in a genuine banknote. Color-shifting ink is a great indicator of whether money is real or fake. For example, on a $100 bill the printed “100” will change from a copper shade to a green shade when tilted in the light. This feature is specific to newer bills, but if the note has color-shifting ink it is a good indicator of authenticity.
6. Microprinting
Font and text are important in spotting fake bills. Real money has intricate text written throughout the bill which is both tiny and hard to replicate. Another great tool to have at your disposal is a magnifying glass as it can help you see the microprinting.
7. Raised Print
On newer or more modern bills there will be raised print over such features as the Treasury seal. By running your fingers over this you should be able to feel whether the print is raised or not which can help you tell if the bill you have in your hand is fake.
8. Irregularities
Sometimes counterfeit money is more obvious than subtle. For example, real money should not have blurred print or images, strange color hues, missing watermarks or other security features. Any irregularities should be an immediate red flag you have received counterfeit currency.
Your instincts shouldn’t be discounted when handling money. You may not be able to quite put your finger on what is wrong with a bill but if you feel like something isn’t right it is better to be safe than sorry and not accept the money.
Final Take To GO
When it comes to handling cash, make sure you know what to look for in genuine banknotes. Understanding what features should be there can help you quickly identify counterfeit money. If you are not convinced the money is real, do not accept it.
FAQ
Here are the answers to some of the most frequently asked questions about counterfeit money.
How can you tell if money is counterfeit?
Here are some indicators that money you have received is counterfeit:
The texture of the paper is smooth or glossy like printer paper.
There is no watermark.
There are no ultraviolet features when you hold it to a UV light.
The bill does not have a security ribbon running vertically through it.
There is no color-shifting ink on any image, design or print of the note.
There is no microprinting present when you examine a bill with a magnifying glass.
What is counterfeit money?
For the United States, counterfeit money is currency printed or created outside the legal sanction of the Federal Reserve. This is usually done deliberately to imitate currency for fraudulent purposes, and the fake bills have no value.
How can you tell if a $100 bill is counterfeit?
Here are some ways to tell if you have a counterfeit $100 bill:
If the bill is real, there will be an embedded security thread that runs vertically to the left of the portrait. It should have "USA" and "100" printed on it that is visible from both sides of the bill. If it does not, it is most like a counterfeit note.
A real $100 note should have a watermark image of Benjamin Franklin.
If no print or design shows up under an ultraviolet light, that should indicate the bill is fake.
What does fake money look like?
Fake money will have an odd paper texture and will also not have such features as watermarks, security threads, color-shifting ink, microprinting or ultraviolet features that show under a UV light.
This article originally appeared on GOBankingRates.com: What Should You Do if You Receive Counterfeit Money?
