The United States Secret Service has a warning for those preparing to enter the professional job market: "Anyone convicted of any counterfeiting violation is automatically eliminated from any kind of federal law enforcement or any other federal jobs requiring federal government security clearance," said Special Agent Jim Rogers.
Congress has taken notice of an increase in counterfeiting activity, and new legislation is in the works to toughen the penalties against those convicted of counterfeiting U.S. currency, said Rogers.
The federal government appears to be taking a zero-tolerance stand on the felony crime. The conviction rate for counterfeiting for fiscal year 1997 was 98.9 percent, according to Bureau of Engraving and Printing web page statistics.
But, without any leads on the use of counterfeit money throughout campus this year, the U.S. S.S. has basically filed away the cases, said Special Agent Anthony Kordich. Earlier this year the University Police turned several counterfeiting cases over to the U.S.S.S., the proper jurisdiction for the fraudulent crimes.
The most recently reported case occurred in June, when counterfeit bills were used to purchase food at The 49er Shops. Other incidents occurred at two parking lot change machines, The Pyramid, The Carpenter Performing Arts Center and Enrollment Services.
"This is becoming an increasingly bigger problem, in investigating these offenses. The person who might not normally be involved in counterfeiting, because of their access to computer technology may, on a lark, try it," said Rogers.
"This is a huge problem - any place there is a vending machine. We get this every day from people in laundromats," said Kordich.
The case is essentially closed when there are no suspects or other leads, such as a fingerprint or license plate number to pursue, said Kordich.
"These types of counterfeiting cases are received by us as contraband and a notification is made; but nothing else can really even be done, because so many peoples' fingerprints can be on the parking machines [for example]. And, we don't have the resources to pursue every case like [the Cal State Long Beach ones.]
The counterfeit bill's serial number is documented, along with the area it was discovered, and the case can be pursued if a similar note surfaces. "No two notes have the same serial number. It's like a fingerprint," said Kordich.
Currently, simple possession of counterfeit currency when one is knowledgeable that it is not genuine, or manufacturing of counterfeit, is punishable by up to five years in jail and/or a $10,000 fine (United States Code, Title 18 Section 472).
"[Violators] are also in violation of the federal statute for counterfeiting and subject to having the equipment they used seized and not returned," said Rogers. "All counterfeit crimes are prosecuted by the U.S. Attorney's Office."
A total of $136,205,241 in counterfeit U.S. currency was discovered worldwide during FY 1997, according to BEP web page statistics. They also state that the most frequently counterfeited denomination is the $20 note, then the $100, $10, $50, $1 and $5 note, successively. And, internationally, the $100 note tops the list.
Citing an increasing use of counterfeit money in smaller denominations, the Department of the Treasury has instructed the Bureau of Engraving and Printing to redesign those bills, said Debbie Rockwell, BEP public affairs specialist.
Last month, the BEP unveiled the new $20 bill and plans to redesign a bill a year in descending order culminating in the new $1. Redesigned $100 and $50 bills have been in circulation since 1996 and 1997, respectively.
Counterfeiting violations of U.S. currency, traveler's checks and U.S. Treasury checks are very common, but the U.S.S.S. almost never sees coin fraud, said Rogers. Coins require a specific weight and when found in counterfeit form are usually in vending machines, such as newspapers. They are just plain metal, usually lacking a design, but have the proper weight.
Consumers should take notice that dates do not change on a series of paper money so one should not be surprised to know that he may have a counterfeit bill even though that bill was redesigned the year it is dated, said Rockwell.