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Counterfeit money/currency refers to a duplicate currency which has been illegally manufactured to alter/increase its original value. In the United States, this is prohibited under Federal Law and different states have their own laws pertaining to counterfeiting. A person involved in this act is termed as a counterfeiter. Manufacturing counterfeit United States currency is a violation of Title 18, Section 471 of the United States Code and is punishable by a fine of up to $5,000 or imprisonment of up to 15 years, or both. Possession of such counterfeit currency is against the Title of 18, Section 472 of the United States Code which attracts punishments including a fine of up to $10,000 or an imprisonment of 15 years, or both. Anyone, who manufactures counterfeit U.S. coin or alters a genuine coin with intent to increase its value violates the Title 18, Section 331 of the United States Code and can be punished by a fine of up to $2,000 or jail term of up to five years, or both. Forgery of government checks or bonds is also criminal act under the Title of 18, Section 510 of the United States Code and is punishable by a fine up to $10,000, or ten years jail term, or both. Possessing or circulating printed reproductions including photographs of currency, government checks and bonds, postage stamps and securities of the United States is prohibited under Article 18, Section 474 of the United States Code and attracts a punishment of fine up to $5,000 or 15 years in jail, or both. Defacement of currency violates Title18; Section 333 of the United States Code and the person involved in it can be fined or can be imprisoned for not more that six months, or both. This article answers to some of the most frequently asked questions of counterfeiting and laws associated with such issues. Are there any counterfeit money laws?
Yes, there are laws governing this issue. Counterfeiting presents a potential danger to economy and financial losses to consumers across the United States. This is prohibited under federal law and different states have their own set of law pertaining to this crime. Counterfeiters can be fined or sentenced to a jail term or can be sentenced with both. What are the implications of passing a forged/counterfeit money order?
In this case, the person who presents the money order should have verified its authenticity. This is not the responsibility of the bank and the person representing the money order is viewed as the perpetrator. If the person is found to do it knowingly, he/she can be punished as per the prescribed law of the state. What is the statute of limitations in a case related to counterfeit currency manufacturing?
It varies from state to state. In some states, the statute of limitations is 10 years. However, the statute of limitations is eight years when such cases are prosecuted under the United States Code in a federal court. What needs to be done if I have unknowingly cashed a counterfeit check?
You should first return the money/proceeds from the check to the bank or the financial institution that has cashed the check, or else you will be held responsible for presenting a forged check. And for this you can be punished with a fine of up to $10,000 or a 10 years jail term, or both. The bank should be able to determine from the routing number on the check where the check came from and coordinate with the Attorney General's office to offer information to assist in prosecution. What is counterfeit conspiracy?
Any conspiracy is a plan between two or more people to commit an illegal act. So, if two or more people plan to manufacture, possess or circulate counterfeit money, government checks, bonds, money orders and any one of them actually does anything towards that, they can all be charged with conspiracy for commit counterfeiting. How to report about a counterfeit currency?
As a responsible citizen, one should report about a counterfeit currency in following manners:
1. Don’t return it to the passer
2. Inform the police or agents of the United States Secret Service as soon as possible and try to delay the passer if possible
3. By the time the police or agents reach, try to observe the passer, number plate of his vehicle
4. Write your initials and the date in the white border area of the suspect note. Sometimes, you might get into trouble related to counterfeit currency without your knowledge. So, whenever you face such situation, it is advisable to ask a criminal lawyer who can help you with this.
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