Be careful about excepting Hundred Dolar Bills More Than Ever

[Guest trigem]

Sunday, August 22, 2010

HOMELAND INSECURITY

WorldNetDaily.com

N. Korea attacks U.S. with fake $100 bills

State Dept. charges Asian regime with sabotaging American economy

Posted: August 20, 2010

10:10 pm Eastern

By Drew Zahn

WorldNetDaily

A New Jersey man was shocked when police informed him that the $100 bill he withdrew from his bank to pay taxes earlier this month was a masterfully made counterfeit.

What the man may not have realized is that the State Department has confirmed a rash of these almost undetectable counterfeits, called "supernotes," have been flooding the U.S. from North Korea in a form of monetary sabotage one former FBI agent warns could constitute an act of war.

The existence of the supernotes was exposed in 2008, when several Chinese men were convicted of smuggling tens of millions of dollars worth of the counterfeit money into the U.S.

Originally, the supernotes fooled even state currency experts.

"It wasn't until they took [a] bill back to Washington, D.C., and they examined it in the labs of the Secret Service … that they determined that in fact it was a supernote," author and former FBI agent Bob Hamer explained to the Christian Broadcasting Network. "It's a near-perfect replica of our $100 bill."

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But authorities also discovered that the Chinese men hadn't actually produced the counterfeits; they were only the vehicle for smuggling the currency into the U.S.

Last month, the International Business Times reports, State Department spokesman Philip Crowley confirmed U.S. officials now have "no doubt" that North Korea is behind the counterfeit currency ring.

And that, Hamer told CBN News, could be considered an act of war.

(Story continues below)

"It's an act of aggression," Hamer said, recalling his undercover work that helped expose the counterfeiting plot. "We're talking about a foreign country counterfeiting our currency and then were going to make me an exclusive distributor of over $40 million of this counterfeit money here in the United States."

The former FBI agent further explained, "The notes are manufactured in North Korea. They were being distributed through the Russian Embassy in Beijing to the Chinese organized crime figures that were dealing directly with me."

The ongoing use and spread of the phony money contributed to the State Department decision, announced last month, to initiate a new wave of sanctions against North Korea.

"We have been able to identify sources of revenue, illegal sources of revenue, and we're going to be working with our international partners to try to stem this flow of illegal activity," Crowley said.

The U.S. has acted on the crime before, singling out the China-based Banco Delta Asia as an accused conduit for laundering the supernotes. The action led to a freeze of more than $25 million in North Korean assets at the bank; and in 2007, the White House went further, when the U.S. Treasury ordered American banks and companies to sever all ties with BDA.

Still, Hamer told CBN News, he's surprised the media hasn't reported more on the financial implications of the phony bills.

"Anytime there's counterfeit money being circulated in our country its going to have an impact on our economy," Hamer said, "especially when we're talking about the dollar amounts that they're talking."

As for the man who paid his taxes with the counterfeit $100 bill, New Jersey's Verona-Cedar Grove Times reports the authorities discovered it by running it through a portable scanner acquired last June to stop a string of phony $20 bills being distributed in Verona.

Police told the paper that the unsuspecting man could be issued a replacement $100 bill once he gets a report from the U.S. Secret Service confirming the original as a counterfeit.

Edited August 22, 2010 by trigem

[vontar]

I am neither confirming or denying but I do know this, the last one with a counterfeit note is the one that suffers the lost.

I got that bit of information from Clark Howard I believe. He gave a tip, about asking for changing in in the form of 20s of less even from a bank In short if you get a 20 dollar counterfeit you are only out 20 bucks, verse if you get stuck with a 100 on you are out 100.

Also I believe Clark Howard said, if you end up with one the Secret Service does not issue you a replacement note. Which is why it is best to try not to get one and when getting change try to limit potential lose as much as possible.

[Guest Drewsett]

As a server I get paid in cash quite frequently. At the high-end restaurant I work, it is relatively common for the bill to exceed $100, so I always make sure the house ends up with any $100 bills I get. If the house owes me money at the end of the night and want to pay me with a hundred, I ALWAYS use a counterfeit detector pen on it and examine it very closely. I figure if it can fool me and my pen, it's either the real thing, or so close to the real thing that I can't be held liable or expected to know it's fake. Either way I am safe. That said, I still prefer $20's or $50's

[Raoul]

Guess I'll have to spend my mad money quickly.

[vontar]

I found it

Clark Howard: Why I Hate $100 Bills - Money News Story - WSB Atlanta

Clark Howard: Why I Hate $100 Bills

there is a flash video here that can't be embedded.

Last one holding it loses.

At least read and watch the video.

[Rightwinger]

two points have me shaking my head. If the supernotes are so good that they had to send the bills back to the FBI labs to detect them, why was it so simple for a portable scanner able to make the spot on these?

[Sidinman]

two points have me shaking my head. If the supernotes are so good that they had to send the bills back to the FBI labs to detect them, why was it so simple for a portable scanner able to make the spot on these?

+1 & A Men

[vontar]

Here is effectively the same story, dating back to 1990, this is most likely a re hoax that has just been updated.

Counterfeiting: Notes on a scandal - Asia, World - The Independent

[Chucktshoes]

Those counterfeit pens are worthless. Counterfeiters are bleaching low denom bills and then reprinting higher amounts on them. It will fool the pens everytime. The color shifting ink and the watermarks are your two big clues for bill authenticity.

[Guest cjr]

That just doesnt seem fair that if your bank passes you a bad note you are stuck with it.

If my bank did that and made me eat it,I would have to make a withdraw in the form of a cashiers check

[Guest Drewsett]

Those counterfeit pens are worthless. Counterfeiters are bleaching low denom bills and then reprinting higher amounts on them. It will fool the pens everytime. The color shifting ink and the watermarks are your two big clues for bill authenticity.

That's why I said the pen and a close examination. I know where all the watermarks and bands are and look for them. I've caught quite a few 50's that were printed on top of old 5's that way.

[Handsome Rob]

It always amazes me that all denomination bills are the same size. I always though the English were a little ahead of the game on that one. All notes are different colors & different sizes. The smaller the amount, the smaller the note, so that counterfeiters can't bleach & re-print higher. Just common sense, if you ask me.

[Guest DeadEye]

The N Korea 100 $ Bill story first came out in 99 or so! Old News!

The Counterfit Pens are 100% useless and only Idiots use them! It turns fake Paper black and leaves the real bills yellow, however a spray of any Hairspray on a simply sheet of any paper, etc..

will fool the Pen and the hairspray makes it turn the mark yellow!

Aqua-Net works best of all hairsprays! LOL

[tnhawk]

That just doesnt seem fair that if your bank passes you a bad note you are stuck with it.

If my bank did that and made me eat it,I would have to make a withdraw in the form of a cashiers check

I've never heard of a bank getting stuck with a bad note.

[Daniel]

WorldNetDaily - Wikipedia, the free encyclopedia

Just sayin'

[gnmwilliams]

That just doesnt seem fair that if your bank passes you a bad note you are stuck with it.

If my bank did that and made me eat it,I would have to make a withdraw in the form of a cashiers check

I work for a bank and I hate it when someone comes up with a counterfeit bill. Nothing worse than having to say, "I'm sorry, but I have to take your fake bill and send it to the secret service. You may or may not get it back. Have a nice day." It stinks but it's Federal law and could come back to bite you if you give it back. "I swear officer! The bank knew it was fake but let me keep it and told me to get rid of it somewhere else!" Yeeeaaaah.....no. Oh and FWIW, I'll tell you that we see more fake 20's and 10's than 100's. Nobody suspects lower denomination bills as much as the larger ones.

[Guest db99wj]

I work for a bank and I hate it when someone comes up with a counterfeit bill. Nothing worse than having to say, "I'm sorry, but I have to take your fake bill and send it to the secret service. You may or may not get it back. Have a nice day." It stinks but it's Federal law and could come back to bite you if you give it back. "I swear officer! The bank knew it was fake but let me keep it and told me to get rid of it somewhere else!" Yeeeaaaah.....no. Oh and FWIW, I'll tell you that we see more fake 20's and 10's than 100's. Nobody suspects lower denomination bills as much as the larger ones.

Yep. We had a bunch of restaurants that came in to my branch. We would catch some. Our counting machine was a new one and would detect them as well.

Most looked like crap, some looked great. Restarants/bars are a great place to pass them, it's dark, busy, places where the waiter/bartender typically doesn't check them.

[Guest Lester Weevils]

The Counterfit Pens are 100% useless and only Idiots use them!

Recently paid cash for a vehicle registration at the Hamilton Co courthouse, and the clerk lady used a counterfeit pen on my bill. Hmmm. Always suspected as much...

[Reservoir Dog]

http://en.wikipedia.org/wiki/WorldNetDaily'>WorldNetDaily - Wikipedia, the free encyclopedia

Just sayin'

This.

I get a good laugh when someone references a WorldNutDaily article.

[Mike.357]

100 dollar bills don't scare me, I am lucky to have a couple of tens and a twenty in my pocket when I keep my cut of the payroll.

[Guest db99wj]

100 dollar bills don't scare me, I am lucky to have a couple of tens and a twenty in my pocket when I keep my cut of the payroll.

I'm with you, I'm in NO danger of getting any of those!