A bank recently reported receiving counterfeit hundred dollar bills in a deposit box.
This isn’t the first time business owners have dealt with fake money. A recent influx of counterfeit bills has been circulating around Williamsburg County. Denominations range from $50, $20 and $1 bills have been taken into evidence by Kingstree Police Department and Williamsburg County Sheriff’s Office.
If you end up with a counterfeit note, you will lose that money. A counterfeit note cannot be exchanged for a genuine one, and it is illegal to knowingly pass counterfeit currency.
According to the Federal Reserve, the best way to determine whether a note is genuine is to rely on the security features, such as the watermark and security thread. Counterfeit detection pens are not always accurate and may give you false results.
Another way is to move your finger across the note. It should feel slightly rough to the touch as a result of the printing process and the unique composition of the paper.
If you believe you’ve received a counterfeit note, immediately notify the local police. Try to remember the physical characteristics of the person who passed the suspect counterfeit, and if possible write down the person’s license plate number and vehicle description. Store the suspect counterfeit apart from genuine currency and release it as soon as possible to law enforcement authorities.