It’s the season of giving but not everyone has good intentions. Businesses say they’ve seen an uptick in counterfeit money, and they want to warn others from getting scammed.
Leslie Allen, the owner of the popular hot dog restaurant, ‘I Dream of Weenie,’ said on Monday a woman handed her a counterfeit twenty.
“We were waiting on other customers and she just kind of stuck her head in and said, ‘Can I get some change real quick?’
Allen said she took the woman’s twenty and gave her some smaller bills in exchange.
“I realized that it didn’t feel quite right so I used our counterfeit pen on it and realized immediately that it was a counterfeit bill.”
Allen said she immediately called the police. Allen said she hopes sharing her story will encourage others to be more vigilant.
Her business isn’t the only one dealing with counterfeit money. Great American Cookies in West End posted a sign on their door saying, “Due to the high volume of counterfeit bills that we have received, we are no longer accepting $50 or $100 bills. Thanks.”
“We do see an uptick in passing of counterfeit currency during the holidays. Mainly it’s a crime of opportunity because there are more people out, more people shopping…. cashiers tend to be busier, and less able to scrutinize incoming bills,” said Matt Preston, assistant to the special agent in charge at the Nashville Secret Service field office.
Preston showed News 2 how to spot real bills from fake ones.
“Well, the easiest way to tell on modern bills is…modern bills have color shifting ink. It should go from gold to green as you shift it at angles.”
That color shifting ink should be present on real twenty and hundred dollar bills.
Preston also said, holding a bill up to the light, should show a watermark and a security thread.
He added that looking at the resolution of the portrait and treasury seal are key clues to spotting fake bills. Fake bills will have significantly lower resolution.
The Nashville Secret Service Field Office shared these numbers with News 2:
Fiscal Year 2016-2017 – a face value of $554, 397 in counterfeit money was confiscated in Middle Tennessee. That totaled 11,700 notes.
Fiscal Year 2017-2018 – a face value of $695, 533 in counterfeit money was confiscated in Middle Tennessee. That totaled 12,720 notes.
Preston said while only 1 in every 10,000 bills is counterfeit, it’s important to be aware. He also said to those who are counterfeiting money, it can have serious consequences.
“If you get caught its a category A federal felony. It’s punishable up to 15 or 20 years in federal prison. Now typically if it’s your first offense or a small amount, you don’t get anywhere near that…but it is a felony, it’s a felony with everything that comes with that.”
Preston said people should also be aware of those using counterfeit money to purchase items they’ve bought online.
He added that it’s a scheme they hear of often. Someone is selling a high-end product over the internet, and when the customer arrives to pick up the item – they hand over counterfeit cash. When the seller realizes, it’s usually too late.
Preston shared that twenties are the most common denomination passed in the United States. Overseas, it’s hundreds.
For more details on how to spot counterfeit money visit here and here.