Counterfeit Money

[Xanthus]

Question. I don't, but if I had counterfeit money and didn't know it was counterfeit would I go to jail? For example, let's say I had a $100.00 bill and I went to the bank to get change for it. Come to find out it's counterfeit. I wouldn't be prosecuted for that would I, and how would they know I didn't know it was counterfeit? I'm asking because I was just watching something on t.v. about conterfeiters. Kind of a dumb thread, but I started it as a thread, because my question may have been overlooked as a post only. Thanks in advance.

[VandalSquirrel]

Originally Posted by Xanthus

Question. I don't, but if I had counterfeit money and didn't know it was counterfeit would I go to jail? For example, let's say I had a $100.00 bill and I went to the bank to get change for it. Come to find out it's counterfeit. I wouldn't be prosecuted for that would I, and how would they know I didn't know it was counterfeit? I'm asking because I was just watching something on t.v. about conterfeiters. Kind of a dumb thread, but I started it as a thread, because my question may have been overlooked as a post only. Thanks in advance.

You'd probably be contacted by the Treasury Department/Secret Service http://www.ustreas.gov/usss/know_your_money.shtml

[AGDee]

This isn't a legal answer, but I would hope that you could remember where you got that $100 bill and share that info with the police and they'd use that info to go after bigger fish. I would hope.

[Xanthus]

I didn't think about the treasury dept. but let's say I got it as a gift, they would still have to trace it back further than the people who gave it to me. I can't see how they would be able to track it. They wouldn't even know if I'm telling the truth or not.

[VandalSquirrel]

Originally Posted by Xanthus

I didn't think about the treasury dept. but let's say I got it as a gift, they would still have to trace it back further than the people who gave it to me. I can't see how they would be able to track it. They wouldn't even know if I'm telling the truth or not.

Well I personally wouldn't eff with the Treasury Department/Secret Service by not providing information. Really though, are you going to say you found it? It isn't as if you can lie without consequences and pretend like it didn't happen.

[KSig RC]

You should likely report it to the necessary authorities, just like any other crime?

[honeychile]

I could be wrong, but at one time, twenty dollar bills were the most commonly counterfeited. I'd rather take the loss on $20 than $100 any day of the week.

[KSigkid]

Originally Posted by honeychile

I could be wrong, but at one time, twenty dollar bills were the most commonly counterfeited. I'd rather take the loss on $20 than $100 any day of the week.

I'd rather take the loss on $100 than end up the subject of an investigation.

[baci]

I can easily answer this for you:

1)You go into bank and attempt to do your transaction. The teller realizes it is fake and informs you. It may be obvious or he/she may go through a series of events to confirm. (they do have compilations of numbers on bills that are known to be fake etc)

2)Depending on your relationship with bank and how you handle yourself
they may take the bill from you or you may get lucky and walk out. Almost 100% of the time, you do not walk out with the money.

If they take the bill from you, they begin to process standard paperwork. They take down information on the bill and also information about you. It is very basic information. Plus, time of transaction and date etc. You will receive a copy of everything that is done. You are not in trouble and you move along, but you move along without the $100. They keep it and it now moves along with the paperwork. I assume if your name comes up numerous times with fake bills you will eventually have a problem. Once or twice you will not have to worry as much. No one contacts you from any department if you present a counterfeit, unless procedure has changed recently. My guess would be repeated presentation of a counterfeit and then you have issues.

If you have a strong relationship with the bank, you may get to move along out of the bank. I have seen this happen, but I am not going into it. It may have happened as it was not easily confirmed fake and the person had a strong banking relationship etc. or they were just lucky.

Many people do not know they have a fake bill (notice I say, if you do not know it is a fake) and there is no way they can say you knew it was fake. You just take the loss and move on as it is banking procedure and the law.

[ThetaPrincess24]

Originally Posted by KSigkid

I'd rather take the loss on $100 than end up the subject of an investigation.

Yep!

I had an ex-bf end up in federal prison for that. He was counterfeiting money from his home computer.

[FHwku]

Originally Posted by ThetaPrincess24

Yep!

I had an ex-bf end up in federal prison for that. He was counterfeiting money from his home computer.

reminds me of

"How to make money at home using your computer!"