Counterfeit awareness promoted to Chinatown business owners 

By Susan Fong 

Special Agent Chris Bossowski of the U.S. Secret Service on June 6 came to the Pui Tak Center in Chinatown to speak to local business owners about counterfeit awareness and how to report counterfeiting. The Chinatown Chamber of Commerce sponsored the seminar.

            A little known fact about the Secret Service is that it was founded in 1865 to address counterfeit issues of the period. The agency assumed its role of presidential security and protection of other officials only later. In the 1980s, the agency expanded it scope to include other financial crimes.

“In Chicago alone, counterfeiting accounts for about  $30,000 to $40,000 in financial crimes per week,” according to Secret Service Public Information Officer Yvonne Dicristoforo.  

Three types of counterfeiting methods are popular today: offset printing, inkjet printing, and use of copy/scanner machines.   

“The most prevalent occurrence in Chicago,” Bossowski explained, “is done with an inkjet printer.” 

Most offset printing requires a certain body of knowledge, which is not so common. With rapid improvement in reprographic (reproduction) technology such as printing and scanning, it is easier for a person with criminal intent to counterfeit if he or she has some basic computer knowledge.

The first thing, Bossowski explained, is to examine the notes you receive to see if they are counterfeit. To know what to look for, you can obtain brochures such as Know Your Money from the local Secret Service field office.

If you suspect you have a counterfeit bill, do not pass it on. Take it to your bank for examination or contact your local police department.

The Secret Service also recommends individuals handle a suspected counterfeit note as little as possible, try to get a description of the offender and his or her vehicle, and be willing to file charges and follow through with a court appearance.

             The local field office sees a mix of counterfeit crimes committed by individuals and organized crime organizations.

            A recent counterfeiting trend is "bleached" notes, Bossowski said; in this process, criminals attempt to turn $5 bills into $100 notes. If you suspect a bill is bleached, hold it up to a light to see if the watermark matches.

            “The most typical denomination in counterfeit is $100 bills, though there are some crimes with lower denominations, i.e. $50 and $20," Dicristoforo reported.

In recent years, the government has added advanced security features in the first major redesign of bills since 1928 in order to foil counterfeiters. It will continue to make changes in the future.

A good practice for the public in checking bills is to compare the suspected counterfeit with a genuine note of the same denomination and series (year).

First, feel the bill. A real bill is printed with the intaglio method, which creates tiny ridges that can be felt with your fingertips.

Second, look for a watermark that matches the portrait.

Third, look for color-shifting ink on new bills in the denomination in the lower right corner. A security thread embedded in the paper should match the bill's denomination; red and blue security fibers are embedded in the paper.

Finally, look to see if the printing is clear, crisp, and distinctive.

Although some merchants use a black light pen to check the security thread, Dicristoforo emphasized the counterfeit detection pen is not foolproof.

            Those who receive a counterfeit as payment for a transaction are considered crime victims and must sustain the financial loss.

“It is the person's duty to report,” Bossowski said, “to the Secret Service and to the bank.”

            Businesses can help the Secret Service by paying closer attention to the notes they receive. Businesses interested in training their employees to spot counterfeits can contact the U.S. Secret Service’s local field office.

In Chicago, the field office also investigates financial crimes such as identity theft, mortgage fraud, and bank fraud. 

            For more information about counterfeiting and other financial crime, call the Public Information Office at the U.S. Secret Service Agency at (312) 353-5431.

The following government websites provide valuable information: www.secretservice.gov, www.moneyfactory.gov, and www.usdollars.treas.gov.