NCJ Number
155644
Journal
Police Chief Volume: 62 Issue: 6 Dated: (June 1995) Pages: 52-55
Date Published
1995
Length
4 pages
Annotation
This article discusses the investigation and suppression of counterfeit US currency.
Abstract
According to estimates made by the Board of Governors of the Federal Reserve System, the amount of counterfeit currency passed each year in the United States is about 10 cents per capita, or about $70 in counterfeit currency for every million dollars in circulation. The methods used in counterfeit production have changed significantly from what they were just 20 years ago. The counterfeiter needs neither skill nor advanced training, merely access to advanced reprographic or copying equipment to produce a counterfeit note of sufficient quality to be passed to an unsuspecting merchant. More than 65 percent of counterfeit notes passed in the United States each year are known to be printed outside the country, with more than half originating from Colombia and Canada. Increased foreign production of counterfeit US currency has resulted from the improvement of international transportation systems, increased international travel for business and personal reasons, relaxation of visa requirements and customs inspections associated with the advent of the European Community, opening of the Eastern bloc countries and the demand for hard currency in those countries. The authors discuss the problem of counterfeit currency in other countries and the establishment of effective liaison with foreign authorities.