Cummins Allison compiles counterfeit bill factoids
Cummins Allison, a provider of ATMs and check, currency and coin handling solutions, has assembled a list of the seven most commonly counterfeited currencies worldwide. Here's a look:
U.S. dollar — The $20 bill is the most commonly counterfeited banknote within the U.S.; counterfeiters elsewhere prefer $100 bills. In 2015, the U.S. Secret Service seized $58 million in fake U.S. currency.
British pound — According to the Royal Mint. more than 85 percent of the 347,000 counterfeit bills taken out of circulation in 2016 were 20 pound notes. The mint estimates that 40 million 1 pound coins made prior to a redesign in 2017 are also fake.
Euro — The most commonly counterfeited denominations are 20 euro and 50 euro bank notes, according to the European Central Bank. During the second half of 2016, fake 20s and 50s accounted for almost 37 percent and 42 percent, respectively, of seized bills.
Mexican peso — The Bank of Mexico estimates that 71 out of every 1 million banknotes are counterfeit. In 2015, Mexican authorities confiscated 306,063 counterfeit bills worth approximately $5.4 million. Favored fakes are 20, 100 and 500 peso notes.
Indian rupee — Of 4.27 counterfeit banknotes confiscated by the Reserve Bank of India within the past 10 years, more than 1 million were 100 rupee notes; nearly 2 million were 500 rupee notes and more than 700,000 were 1,000 rupee notes. In November the government demonetized 1,000 and 500 notes, which comprised 86 percent of currency in circulation by value and accounted for most of the nation's "dark money," popular among criminals and tax dodgers.
Yuan — In China, counterfeiters are partial to 50 and 100 yuan notes. Police seized 532 million in fake yuan worth $85.6 million in 2014.
Technologies for detecting counterfeit currency include magnetic, luminescence and infrared sensors; enhanced ultraviolet sensing; advanced analytic software; serial number tracking; and proprietary detection and authentication algorithms, Cummins Allison said.
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