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News Release
Contact Information:
Office Zone
Kaysville, Utah 84037
Contact Name: Kelly Bingham
Contact Number: 1-800-543-5454
For Immediate Release: 3/19/07
Counterfeit US Currency at Three Year High;
Office Zone Helps Companies Avoid Losing Revenue to Counterfeiters
Counterfeit currency is on the rise in the United States, leaving businesses at a higher risk of unwittingly accepting counterfeit bills.
KAYSVILLE, UT March 19, 2007 -- Counterfeit currency is on the rise in the United States, leaving businesses at a higher risk of unwittingly accepting counterfeit bills.
The US Secret Service reported a 69 percent increase in phony money circulating over the last three years, and in 2006 the Secret Service confiscated approximately $62 million in counterfeit bills.
The marked rise in counterfeit money is attributed to increased use of digital technology and printing.
In 2006, the Secret Service reported 54 percent of seized counterfeit currency was printed on a digital printer, compared to only 1 percent 10 years earlier when counterfeits were printed using expensive and tedious offset printing methods. The proliferation of home computers and advancements in digital printers has made it easy for nearly anyone to be a counterfeiter.
The Bureau of Engraving and Printing has been encoding multiple security features into paper bills for authentication purposes. Watermarks, color-shifting and magnetic inks, microprinting and other features are embedded in genuine money.
Office Zone, the first Internet retailer specializing in office equipment, offers several counterfeit detectors and detection tools that recognize currency security features to guard businesses against accepting counterfeits.
The MD-630 Electronic Pen is a quick and inexpensive counterfeit detector. It uses an infrared sensor to detect the magnetic ink and other properties. A green light indicates genuine bills. It is an ideal point-of-sale detection tool (http://www.officezone.com/md-630.htm).
The ABC-95 Analyzer Counterfeit Detector uses four manual detection methods, including: UV light for quick watermark detection, magnetic ink reader, and magnification for microprint reading. (http://www.officezone.com/abc95.htm)
The ABC5500 Ultra Bill Counter is a high volume bill counter that scans for counterfeits as it counts. It's designed for banks, casinos, retail stores and other businesses that handle large amounts of cash. (http://www.officezone.com/abc5500ultra.htm)
The FBI estimates businesses lose approximately $200 billion a year to counterfeiting. Companies are not reimbursed or compensated for counterfeiting losses. For information on protecting your company from counterfeit currency, check out Office Zone's Money Counting and Counterfeit Detection Guide (http://www.officezone.com/money-handling-guide.htm).
For further information, please contact the Marketing Director of Office Zone, 1-800-543-5454.
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