jocefus
10-29-2003, 08:41 AM
Counterfeit new $20s debut
NEW YORK (CNN/Money) - Less than a month after the release of new $20 bills with features designed to deter forgeries, counterfeiters are already at work.
Last week, people in and around Brockton, Mass., tried to pass fake notes at a convenience store, a restaurant, and a Radio Shack, the Boston Herald reported Tuesday.
Old Hickory's new look.
"It's real good quality," Dominic Persampieri, a detective with the Brockton police, told the paper. "It looks good.''
The Massachusetts scams were not the only reported forgeries. A restaurant in Elkhart, Ind., found two fake notes. Police there told reporters that a 14-year-old girl had been the one to pass the bills, though they did not allege that she had a part in their production.
When the government announced last spring that the $20 note would be redesigned, officials stressed that the move was driven by a desire to stem counterfeiting.
News that fake bills are already being detected, therefore, may be evidence that the plan is working. (The discovery of a counterfeit note, by definition, means an attempt at fraud has been thwarted.)
"These are the most secure notes the U.S. government has ever produced," said Fed Governor Mark W. Olson, when the currency rolled out last month.
Among the $20's security features are a watermark image engrained into the paper; an embedded vertical plastic strip; and color-shifting ink, whose appearance changes in hue from copper to green as the bill is tilted against light.
The most obvious change is that the greenback is no longer just green and black. The new $20 contains pastel background colors of pinkish-orange and powder blue, in addition to different shades of green.
Only 1 bill in 10,000 is illegitimate, according to the Secret Service, but widespread access to digital printing technology has made counterfeiting easier in recent years.
The U.S. government seized about $130 million in (unused) counterfeit notes last year, according to the Secret Service. Almost $44 million more was retrieved from circulation. Nearly 5,000 people involved were arrested.
The multicolored new bills represent "an opportunity to be proactive," according to Steven Carey, who runs the Secret Service's New York operations. "We're using new technologies to stay one step ahead of the counterfeiters
not even a month after the new bills are introduced and there are already counterfits,,amazing..
http://scripts.cgispy.com/image.cgi?u=jocefus
Big ups to amy,aggie, and sat cam for the sigs..
hey my man, what it look like
NEW YORK (CNN/Money) - Less than a month after the release of new $20 bills with features designed to deter forgeries, counterfeiters are already at work.
Last week, people in and around Brockton, Mass., tried to pass fake notes at a convenience store, a restaurant, and a Radio Shack, the Boston Herald reported Tuesday.
Old Hickory's new look.
"It's real good quality," Dominic Persampieri, a detective with the Brockton police, told the paper. "It looks good.''
The Massachusetts scams were not the only reported forgeries. A restaurant in Elkhart, Ind., found two fake notes. Police there told reporters that a 14-year-old girl had been the one to pass the bills, though they did not allege that she had a part in their production.
When the government announced last spring that the $20 note would be redesigned, officials stressed that the move was driven by a desire to stem counterfeiting.
News that fake bills are already being detected, therefore, may be evidence that the plan is working. (The discovery of a counterfeit note, by definition, means an attempt at fraud has been thwarted.)
"These are the most secure notes the U.S. government has ever produced," said Fed Governor Mark W. Olson, when the currency rolled out last month.
Among the $20's security features are a watermark image engrained into the paper; an embedded vertical plastic strip; and color-shifting ink, whose appearance changes in hue from copper to green as the bill is tilted against light.
The most obvious change is that the greenback is no longer just green and black. The new $20 contains pastel background colors of pinkish-orange and powder blue, in addition to different shades of green.
Only 1 bill in 10,000 is illegitimate, according to the Secret Service, but widespread access to digital printing technology has made counterfeiting easier in recent years.
The U.S. government seized about $130 million in (unused) counterfeit notes last year, according to the Secret Service. Almost $44 million more was retrieved from circulation. Nearly 5,000 people involved were arrested.
The multicolored new bills represent "an opportunity to be proactive," according to Steven Carey, who runs the Secret Service's New York operations. "We're using new technologies to stay one step ahead of the counterfeiters
not even a month after the new bills are introduced and there are already counterfits,,amazing..
http://scripts.cgispy.com/image.cgi?u=jocefus
Big ups to amy,aggie, and sat cam for the sigs..
hey my man, what it look like