According to the United States Department of Treasury, an estimated $70 million in counterfeit bills are in circulation today and that number is quickly on the rise. As stated by the law enforcement, the bulk of those victimized by counterfeiters are large big-box stores, convenience stores and fast-food restaurants with high customer volume and lots of cash exchanged. Therefore, it became extremely important to be able to protect yourself from fraud.
How to Identify Counterfeit Money?!
Most often, retail associates don’t know how to identify legitimate money. One of the most common techniques counterfeiters use involves bleaching legitimate money and altering the bills to look like $100 notes.
This makes it imperative for business owners to implement strategies to help minimize losses from receiving counterfeit money. There are two simple steps you can take today to protect your business against counterfeit cash:
- Train your employees to get into the habit of checking $20, $50 and $100 bills by using a counterfeit detector
- Employ counterfeit detectors at every cash register
Let’s take a closer look at counterfeit detectors, the actual tools that will disarm anyone with suspicious money!