News — counterfeit detection

3 Types of Businesses That Benefit Most From a Counterfeit Detector

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3 Types of Businesses That Benefit Most From a Counterfeit Detector

The Federal Reserve estimates that as much as $220 million in fake money could be circulating in the United States. As a business owner, you have to realize that counterfeit bills can cut into your bottom line. To combat this type of fraud, business owners have to be preventive and equip the latest in counterfeit detection technology in order. The benefits of counterfeit detectors are well known. Not only do they help catch scammers and their counterfeit bills, it’ll also protect you from declaring real bills as fakes. While all businesses that deal with large amounts of currency could benefit...

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Why Counterfeit Pens Are Not Reliable

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  Often times, store employees do not know how to identify counterfeit bills and rely on the simplest, least reliable counterfeit detection tool: the counterfeit pen. As a result, multiple fake bills are accepted in cash registers; this causes financial losses because those bills are worth nothing when attempting to deposit them at the bank. As a matter of fact, the United States treasury estimates about $70 million in counterfeit bills are in circulation, or approximately 1 note in counterfeits for every 10,000 in genuine currency. Here is the thing, counterfeit pens will not detect any fake bills other than...

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