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Local Businesses Hit With Counterfeit Cash
Here in Western Washington, the Secret Service confiscates anywhere from $7,000 to $10,000 a week in fake cash -- counterfeit bills that are hard to detect and cost consumers thousands of dollars.At Funky Jane's Consignment on California Avenue in West Seattle, Angela Nichols knows the struggle of making a profit. So when two fake $50 bills crossed her counter, she thought she made a sale.“It looked totally real,” said Nichols. “He knew what he was doing. He bought a $50 item, gave us two $50 bills and got $40 back in real money. I felt totally duped.”It was the same deal for Emily Williamson at Many Moons Trading Company.Williamson said the same man passed her three fake $50 bills."It's not only the $150, it's the merchandise we lost and the change back we gave him," said Williamson.Special Agent Robert Kierstead with the Secret Service tracks the counterfeit trail. Worldwide, there’s estimated to be more than $147 million in bogus cash.“The bills are getting hard to detect for some people,” said Kierstead. “It could have an enormous impact on the economy in the United States."In the old days, crooks would use printing presses or plates to duplicate money, just like you see in the movies. Nowadays, the counterfeit business has gone high tech.“They use office machine copies, ink jet printers and lap top computers,” said Kierstead.They also use a technique called bleaching. Crooks will fade an authentic $1 or $5 bill and then transpose a copied $20, $50 or $100 onto the same bill.“There's a lesser degree of sophistication but more people are trying their hand at it," said Kierstead.The method is foolproof against anti-counterfeit pens.“If you have a bleached note, just make sure the denomination in the thread matches the denomination in the corners of the note," said Kierstead.Nichols and Williamson learned the hard way. They’re both out a few hundred dollars but they promised that they won’t be tricked again.Experts said if you come across a suspicious bill you do not have to accept it. Of course, all fake money should be reported to your local bank and the police.The Secret Service said there's less than 1 percent of fake cash circulating in our currency, but they still warn consumers to take precautions.
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