A perfectly dressed gentleman walks in to your retail store one day and purchases an 80GB Ipod amongst other things. You receive a wad of hundred dollar bills as the payment. You count the money, check and double check for any discrepancies and then, when you are satisfied, keep the money in your drawer. You exchange pleasantries and the gentleman leaves with the goods. At the end of the week, when you go to the bank to deposit the money, you are informed that 10 out of the twenty $ 100 notes deposited by you are fakes. They are super dollars that are better than the original and are worth nothing but trash. You are flabbergasted. You have no idea what to do. Because you do not even have a CCTV camera system in your store to help identify the culprit. All that remains is a dizzy picture of the guy in your mind. How is that going to help?
Real life stories like these are everywhere. You may choose to neglect it as many times as you wish, but the lack of security will come back and haunt you at some point or the other in your lifetime. A home without security is burgled, a computer without security is hacked into and lastly, a commercial establishment without security is cheated and forged. In the case mentioned above, counterfeit money is the problem. Counterfeiting of money is as old as money itself. You might be familiar with counterfeit notes but before paper money was introduced, it was metal coins that were forged. The most common way to do it was to mix base metals with precious metals like gold or silver. Some others used to shave off the edges of coins so that they would weigh lesser. This process was also known as clipping. The introduction of paper currency somewhat made the job easier for counterfeiters.
The current scenario
Counterfeiting is no longer the realm of the skilled engraver. Digital technology, high quality printing and computer scanning have made it possible for even a high school student with reasonable expertise to print currency notes. Monetary help from anti-government agencies have given a much needed boost to counterfeiters. The above mentioned super dollar is a prime example of this. These super dollars that apparently come in from North Korea or Colombia are superb imitations of the American dollar bank note. Rumors also indicate the hand of an inside source like the CIA behind these notes. These notes belong to the PN-14342 family according to the classification used by the US Secret services. There are all kinds of speculations surrounding the Super dollar, including the hand of the Russian mafia in trying to increase inflation.
Detecting counterfeit currency
Detecting a fake is not easy. Because the days when counterfeit money was printed in a local printing press are long gone. Today, the best equipment, the best technology and people with actual expertise behind manufacturing American dollars are being roped in to make fake currency notes. The notes have all the features of an American bank note (the red and blue security fibers, the security thread, and the watermark). And some of these notes are so perfect, that they can even fool an expert.
Some of the more recent $20 notes by the US bureau of Engraving and Printing have several layers of security features to counter counterfeiting. The ‘20′ written on the lower right corner of the note using color changing ink, the security strip next to the image of Andrew Jackson and micro writing are some of the feature of these notes. But can you inspect each $20 note that comes to your store? Can you hold it against the light and check for the features mentioned above? Yes, there are all kinds of information available on the internet about how you can detect counterfeit money. But the question is, ‘Can you really memorize all those facts and then put it to use when it matters the most?’
Technology to the aid
This is where technology can step in. I am sure you have heard about counterfeit money detectors. Most people think that the bank is the only place where such detectors are used. But it can be a wonderful addition to your security setup and protect your business from being forged or cheated. A counterfeit money detector detects a fake currency note and sounds an alarm when it spots one.
It has been a cat and mouse game of sorts between counterfeiters and security agencies. Whenever a new method of counterfeiting is detected, a new method of authenticating the note is also developed by security agencies. Yes, there are different types of counterfeit money detectors available in the market today. Let us take a look at some of them.
The counterfeit money detector pen
This is undoubtedly the most popular counterfeit money detection system in the market today. It looks like an ordinary pen but it can quickly detect a counterfeit currency note. We have spoken about high end counterfeiters using the best of technology to manufacture fake currency. But there are others who do not have that kind of infrastructure. These guys use ordinary color copiers and printers and print out their currency notes on ordinary wood based paper. These notes are not as authentic as genuine notes and in some cases is an ordinary facsimile. Actual currency notes are printed on a special fiber based paper.
The counterfeit money detector is based on a simple but quite an effective concept. Ordinary wood based paper contains starch and the counterfeit money detector pen contains an iodine solution that reacts with the starch. This reaction creates a black stain on the paper indicating that the currency note is a fake. When the ink used on genuine fiber based paper that is used in actual currency notes, there is no discoloration or stain. All that you have to do is create a small mark on the currency note to authenticate whether the note is a fake. While the counterfeit money detector pen cannot be used on high end notes like the super dollar, it is quite effective in detecting fake notes printed on ordinary paper.
The Counterfeit Currency UV detector
Try scanning a $20 bill using a scanner at home and ensure that you set the scanner to its highest resolution. The scanned image of the $20 bill is a perfect replica of the original. If you use the zoom function and look closely, you will find that the entire bill has a hexagonal pattern of fine lines imprinted on it. These lines are invisible to the naked eye. But it is these lines that give different tints to different parts of the note. Other than this, there are tiny intricate details on parts of the note. There is micro-printing, there are watermarks and other security features. The scanner is able to capture the image with remarkable clarity. But when you try to print it, the printer is not able to do the same. And don’t forget the color shifting ink. In most fake currency notes, the printer has merely created a superficial image of the note on the paper. And it can quickly be detected using an Ultra Violet light money detector.
This detector uses UV technology and a band of UV light is shone on the note. Apart from easily detecting the superficial image, a printer toner has several tiny particles also known as bleed that a UV detector can detect. A UV counterfeit money detector may also include other methods of detecting counterfeit money.
Magnetic Currency detection
Magnetic detection or MG detection is one of the methods of detecting counterfeit currency that is included in most currency detectors now. Most UV currency detectors have built in support for MG detection. Several countries use Magnetic particles in the ink used for printing currency notes and these particles provide a way of validating currency. The magnetic fields used in these particles are smaller than the magnetic field of the earth (<0.1 Oe (8 A/m) at the surface of the bill). However, these fields produce signatures that can be used to detect denominations of currency. A magnetic currency detector detects the presence of these magnetic particles in the ink.
Magnifying currency detection
You can always rely on the good old eyes to help you spot a fake. While you can use an ordinary magnifying glass to have a detailed look at a note, most counterfeit currency detectors use magnifying detection technology. The note is magnified using magnifying power more than 5x and the result can be seen on a computer screen. This helps users verify the security features like the micro-printing, the security thread that runs vertically with the pertinent text legibly printed on it, the high quality portrait, the presence of the visual aid and the watermark.
Watermark detection
A watermark is a security feature that is added to security notes and other important documents to prevent counterfeiting. The watermark will only appear when the note is held against a black background or at a certain angle. Depending on the country and the denomination of the note, the watermark may either be a true watermark (applied during paper manufacture) or an artificial watermark (applied during printing). The watermark in a US dollar note can be easily detected when it is held against fluorescent light and hence, most counterfeit currency detectors use watermark detection.
The lighted reflection
Currencies of most countries including the United States have a metallic color changing emblem printed on it. For example, the US $100 bill that has the black to green color changing emblem in the lower right hand corner.
The threat of counterfeit money is amongst the gravest problems being faced by businesses today. Get a multifunction counterfeit money detector to protect your business from being forged.
