Consumers Beware: Counterfeit Bills Detected Locally

By Nancy K. Crevier

Jackie Youngberg is not happy that she is out $50, but she is more concerned that others in the community be alerted to the fact that counterfeit money can end up in the hands of the unsuspecting.

“I’m a pretty savvy person, I think,” said Ms Youngberg, “but I am totally blown away that I could have gotten a counterfeit bill, and the response that I got. For me, $50 is not going to be the difference between eating or not eating, but for some, it could mean they don’t get groceries or don’t get a prescription if they lose $50.”

On the afternoon of September 12, Ms Youngberg deposited cash into her account at the drive-through window of Savings Bank of Danbury in Newtown, only to be told that one of the $50 bills was a phony. She was shocked, as she had just withdrawn the money from the local Bank of America branch moments before.

“Savings Bank ran it through whatever it is they do two or three times, and said they were really sorry, but they could not give it back to me, as by law any suspect bill has to be turned in to the federal government,” Ms Youngberg said. She returned to Bank of America, where her paycheck is automatically deposited, hoping to be credited the $50, only to find out what victims of counterfeit funds discover: there is no recourse.

“I was told there was nothing that they could do,” Ms Youngberg said, “and that they check the money that comes into the bank every day and there was no way that I had gotten a counterfeit bill from them.” What flabbergasted her was the insinuation that she had switched the bill and the overall disinterest in her situation she felt the bank, where she has banked for over 20 years, showed her.

 “I can take the loss of the $50, but I thought that some concern for other customers who could end up with a counterfeit bill, at least, should have been expressed,” Ms Youngberg said.

A representative of Bank of America in Newtown did not care to comment and referred questions to corporate headquarter’s media relations department for Bank of America. Representatives there, in turn, declined to comment on the bank’s policy for ensuring counterfeit notes do not pass through to customers, other than to say that customers who believe they are in possession of a counterfeit bill should contact local police. Bank of America also directed any questions regarding counterfeit funds be directed to the Connecticut Banking Association, which had not responded as of press time.

Savings Bank of Danbury also declined to comment.

“Unfortunately, there is no recourse [when a customer ends up with a counterfeit bill],” said Newtown Savings Bank Main Street branch manager Brian Amey. “The counterfeit bill is returned to the federal government. The depositor is the loser.”

Most incidences of phony bills coming through a bank branch are innocent, he said. It can happen when a business deposits a large amount of cash and a counterfeit bill has been passed on to the business. Even then, the person passing it on to the business may be another innocent link, and not the source of the counterfeit bill.

“With a good counterfeit,” said Mr Amey, “the lay person will not be able to tell.”

Banks use a combination of techniques to identify phony money, he said, beginning with experienced tellers who may be able to detect subtleties like the thickness of paper or a hologram that is missing. All large denomination bills must go through a counting machine, and that machine will reject a bill if it is in any way “strange,” Mr Amey said. Suspect notes can be tested under ultraviolet lights or with a special marker pen.

“If you think you have a counterfeit bill, you should report it to the police, just to let them know,” Mr Amey suggested.

Sometimes it is smaller bills, such as fives or tens that are counterfeited, but more often, it is the larger bills, he said, so the chances of one passing through a bank are small.

“Fortunately, there is not so much counterfeiting here in Newtown,” Mr Amey said.

However, an employee of People’s United Bank in Newtown confirmed that a false $100 bill had been received the morning of October 24 in a night deposit. That depositor is out the money and the bill has been sent to Secret Service in New Haven.

The best way for consumers to protect themselves from losing out on $20, $50, $100, or more is to be aware of the design features that can vary on genuine currency and learn to identify counterfeit bills.

The US Treasury Department notes that on a genuine bill, the portrait is lifelike and stands out distinctly from the background. The Federal Reserve Seal on older notes, and the Treasury Seal have distinct and sharp sawtooth outlines.

Check that the fine lines in the borders are clear and unbroken. In a counterfeit bill, the scrollwork there may be blurred or indistinct.

Genuine serial numbers have a distinct style and are evenly space. The serial numbers should be in the same color ink as the Treasury Seal.

Genuine currency paper has red and blue fibers embedded in the paper. Close inspection of a counterfeit bill will show that the red and blue is on the surface of the paper.

Tens, twenties, fifties, and one hundred dollar bills have color-shifting ink on the denomination number in the lower right hand corner when held at a 45 degree angle.

Identifying a counterfeit bill is not always easy. The Secret Service suggests the following if a person suspects they have received a counterfeit bill:

Do not return the bill to the passer.

Delay the passer if possible.

Observe the passer’s description and license plate numbers of any vehicles used.

Contact local police or the US Secret Service field office in New Haven at 203-865-2449.

Write your initials and date in the white border of the suspect note.

Place it in an envelope and give it to a properly identified police officer or Secret Service special agent.

Ms Youngberg did go to the Newtown Police to report what had happened after she received confirmation from Savings Bank of Danbury that it was truly a counterfeit note, she said, in hopes that the situation would be investigated, but is puzzled by the response she got. “They asked me what I wanted them to do about it,” she said. “They said they would put my name and information into the computer and would make note that this had happened in case others started reporting other counterfeit bills. I guess I was surprised, because I thought they might want to talk to the bank that I got the bill from.”

Sgt Frohlich of the Newtown Police Department said this week that if a person reports that they have a counterfeit bill, it would most likely be referred to the Secret Service in New Haven. Police records show that Ms Youngberg’s complaint was registered the afternoon of September 26, but that no further action was taken.

Since her experience, Ms Youngberg has heard of another fake bill being received from a People’s United Bank in Bethel.

“I just think people should know that [counterfeit bills] do get passed around and to be aware. I hate to think of anyone losing money they can’t afford to,” she said.