Police Report: Counterfeit Bills Circulating At Grand Junction Stores
The Grand Junction Police Department reports there has been a recent wave of counterfeit bills circulating at local stores.
Counterfeit Bills Reported At Grand Junction Stores
A number of Grand Junction area businesses have recently reported transactions involving counterfeit money. According to the Grand Junction Police Department, the fake bills have been in various denominations but mostly $5s, $10s, and $50s. One commenter on the GJPD Facebook page reported several attempts have been made to pass $100 bills at the 12th Street City Market.
The police department is urging area businesses that suspect they may have been the victim of counterfeiting to contact local authorities and file a police report. It may seem like a lost cause once counterfeit bills have been accepted, but GJPD says the compilation of reports can help officers begin to look for patterns of where and when these bills are being used.
Counterfeiting Is Big Business in the U.S.
Although it's difficult to know with certainty how widespread counterfeiting is, the United States Department of Treasury estimates that $70 million in counterfeit bills are currently in circulation. That figure is based on annual seizure rates, which translates into about 1 in 10,000 bills that are fake.
Knowing What to Look For
In the last 20 years, the Federal Reserve has implemented numerous special features on U.S. currency to make it easier to identify fake money. The best defense against counterfeit money is knowledge -- knowing what to look for.