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Feds: Today's Counterfeiters Are Poor Copies

Ink-jet amateurs replace skilled crooks who once fooled experts

By Rob Quinn,  Newser Staff

Posted Dec 27, 2008 8:29 AM CST

(Newser) – Secret Service agents are waxing nostalgic for counterfeiters of old, the Kansas City Star reports. The printers who once produced 20s, 50s, and 100s good enough to fool experts have been replaced by home office crooks who reproduce small bills on ink-jet printers. "It’s a lost art," says special agent Charles Green. He recalls a 1980s case for two million counterfeit dollars: “That’s the kind of case we used to make.”

Ink-jet counterfeits account for 60% of all fake money seized, up from just 1% in 1995. The poor quality of the fakes, often made by drug addicts printing a few bills at a time, still fool people and circulate. Part of the problem is that US bills have changed to foil counterfeiters so many times that store owners can't spot funny money. The Secret Service offers to come by and give classes. “We do it all the time,” Green says. “Just call.”

The counterfeit rate in US currency is .02 percent, or one in every 10,000 bills. WHen Abraham Lincoln created the Secret Service to deal with the problem, a third of cash in circulation was phony.
The counterfeit rate in US currency is .02 percent, or one in every 10,000 bills. WHen Abraham Lincoln created the Secret Service to deal with the problem, a third of cash in circulation was phony.   (Flickr)
Secret Service agents say ink-jet counterfeiting of currency is thriving despite the poor quality of the copies.
Secret Service agents say ink-jet counterfeiting of currency is thriving despite the poor quality of the copies.   (Flickr)
Counterfeiters are having success in passing poor-quality bills because many are unfamiliar with the changes in currency introduced to foil fakes.
Counterfeiters are having success in passing poor-quality bills because many are unfamiliar with the changes in currency introduced to foil fakes.   (Flickr)
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COMMENTS
Showing 3 of 3 comments
sailor86
Dec 28, 2008 8:14 PM CST
Oh, let them guys have their "remember the good ol' days" moment.
TerrifiedCitizen
Dec 28, 2008 6:13 AM CST
I think we have wasted more money making changes to our money.
Shannonals
Dec 27, 2008 2:11 AM CST
Why would anyone complain because counterfeiters can't reproduce our currency, isn't that the purpose?
 

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