The Surprising Truth Behind Modern Counterfeiting Tactics

    May 20 2014

    When it comes to counterfeiting currency, chances are the first thoughts that pop into your head consist of shady backdoor dealings, stolen government presses, or hi-tech software systems designed to dupe unsuspecting cashiers. However, the world of making fake bills isn't always as glamorous as movies or TV shows make it out to be. In fact, you just might be surprised at how many unassumingly average people out there, from soccer moms to your neighbor next door, are trying to pull a quick one on local businesses and the government. Because of this, there's not time like now to look over some of the latest counterfeiting tactics, as well as how you can protect your business with counterfeit detectors and other smart workplace strategies.

    Consumer Technology and Surprisingly Simple Tactics

    At the heart of some of the most deceptively clever counterfeiting techniques is the everyday inkjet printer. Yes, you read that right – the same printer sitting on computer desks across the country can spew out believable fakes with the right preparation, and a willingness to undertake some devious actions. The fundamental goal of this process is to reprint smaller bills with the markings of larger denominations. Naturally, there's some setup time involved, but the frightening reality of the situation is that businesses like yours are at risk for handling counterfeits not just from experienced criminals and other known illicit sources, but from everyday shoppers who might decide to try their hand at pulling the wool over the retail world's eyes.

    Building an Appropriate Response

    Of course, it isn't all doom and gloom when it comes to modern counterfeiting tactics. Because the availability of this technology is so widespread, the government is working hard to provide what assistance it can to businesses and organizations like yours. If you've kept up with this blog, you know that the latest printings from the Royal Canadian Mint (RCM) have a wide variety of anti-counterfeiting security features that make it harder for those looking to circulate and abuse these illegally printed bills. Unfortunately, simply hoping that the RCM can handle these problems on its own while you turn the other way is just wishful thinking. If you want to completely cut out the threat of counterfeits invading your registers, you'll need to be a little more proactive.

    Protecting Your Business

    To stop fraudulent bills coming from inkjets printers or any other source, you have a few options that can help you safeguard your business. First off, spend some time with your employees building a standard checklist for dealing with bills of any denomination. While it might take a little time to get rolling, you'll be glad you have a plan for indentifying these counterfeits and handling the awkwardness that comes with confronting customers as part of the basic skill set for your employees. Additionally, having tools, like counterfeit detectors, readily available for employees can completely take the guesswork out of determining the authenticity of bill, ensuring that your business never has to deal with all the headaches that come with handling counterfeit bills. For any owner or manager seriously concerned about dealing with this issue, these tips can get you well on your way to saying goodbye to fake bills for good.

    Gino Lombardi

    Gino Lombardi

    Gino Lombardi founded CashTech Currency Products Inc. in April 2003. Prior to establishing CashTech Currency Products Inc., dating back to 1993, Mr. Lombardi was a member of the management team at Datacard Canada. Mr. Lombardi’s hobbies include stain glass design and creation, travelling with his wife and spending time with his four grandchildren. He resides in Woodbridge with his wife of over 40 years.

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