Former Secret Service Agent Explains How to Detect Counterfeit Money | Tradecraft | WIRED
Summary
TLDRThe video script delves into the history and impact of counterfeit currency in the United States, highlighting the critical role of the Secret Service in combating this illegal activity. It explains the sophisticated techniques used by counterfeiters and the security features incorporated into Federal Reserve notes to prevent forgery. The script also touches on historical attempts to destabilize the U.S. economy through counterfeiting, emphasizing the ongoing battle to protect the nation's financial integrity.
Takeaways
- 💡 The United States Secret Service was initially formed during the Civil War to combat the rising issue of counterfeit currency produced by the Confederate Army.
- 🔍 Banks and financial institutions receive instruction from the Secret Service on how to detect counterfeit money, which often has minute differences noticeable to the trained eye.
- 💼 The Secret Service's mission is to suppress counterfeit currency and ensure it doesn't circulate within the U.S. economy.
- 🎨 Counterfeit currency is not a simple home-printed item but a high-level artistic replication of Federal Reserve notes, often undetectable to the untrained eye.
- 🌍 During WWII, the Nazis attempted to destabilize the U.S. dollar by forcing Jewish artisans to create counterfeit currency, but these efforts failed due to expert detection.
- 💸 In major financial areas of the U.S., large amounts of counterfeit currency are seized weekly, highlighting the ongoing issue.
- 🔐 Federal Reserve notes contain various security features, some of which are classified and closely guarded by the U.S. Government.
- 🌀 The presence of watermarks, optical varying ink, and microprinting are common security features that help distinguish genuine currency from counterfeit bills.
- 🔬 Microprinting, such as the fine print on the lapel of the $100 bill featuring 'The United States of America,' is a security feature that is hard to replicate.
- 🌈 Colored fibers embedded in the bills, some of which glow under UV light, serve as indicators of genuine currency.
- 📏 The serial number on each Federal Reserve note is a tracking device used by the Secret Service to identify counterfeit bills that do not follow a specific sequence.
- 🏦 Counterfeit bills may not align with the correct Federal Reserve Bank, which is indicated on the bill and can be a key indicator of forgery.
Q & A
What is the historical role of counterfeit money in the United States?
-Counterfeit money has played a significant role throughout U.S. history, particularly during the Civil War when the Confederate Army printed counterfeit currency to destabilize the North's economy.
What assistance does the Secret Service provide to banks and financial institutions?
-The Secret Service offers training and instruction on how to detect counterfeit money, focusing on the minute differences that are obvious to trained professionals.
Why was the United States Secret Service formed?
-The Secret Service was formed during the Civil War in response to the rising amount of counterfeit currency being printed by the Confederate Army and distributed in the North.
What was Hitler's strategy during World War II regarding counterfeit currency?
-Hitler and the Nazis forced Jewish artisans to create counterfeit currency in an attempt to destabilize the U.S. dollar globally, but these attempts failed.
How do security features in Federal Reserve notes help in detecting counterfeit bills?
-Security features such as watermarks, optical varying ink, microprinting, colored fibers, and 3D hologram strips are embedded in genuine Federal Reserve notes to deter counterfeiting.
What is the significance of the watermark in Federal Reserve notes?
-The watermark is an imprint into the paper itself, developed during the paper stock's creation, and is a key security feature that is not easily replicated by counterfeiters.
What is optical varying ink and how does it help in identifying genuine bills?
-Optical varying ink is an image-shifting ink that changes color as the bill moves, visible to the naked eye, and is a common security feature in the 20 and 100 dollar bills.
Why is microprinting an effective security feature against counterfeiting?
-Microprinting is fine artistic work that cannot be replicated by photocopying, as it would appear as a straight line instead of the intricate design, making it a key indicator of a counterfeit bill.
What security feature is present on the lapel of Franklin on the $100 bill?
-On the lapel of Franklin on the $100 bill, there is microprinting that reads 'The United States of America,' which is difficult to see without magnification and serves as a security feature.
How do colored fibers and UV lighting contribute to the security of Federal Reserve notes?
-Colored fibers, red and blue, are embedded in the bills, and some fibers glow under UV lighting, which are key indicators of genuine bills and difficult for counterfeiters to replicate.
What role do serial numbers play in identifying counterfeit Federal Reserve notes?
-Serial numbers are unique to each genuine Federal Reserve note and are used by the Secret Service as a tracking device. Counterfeit bills often do not follow the specific sequence of serial numbers, making them identifiable.
How do counterfeiters' attempts to align bills with the right Federal Reserve Bank affect the authenticity of the bills?
-Counterfeiters often fail to align the bills with the correct Federal Reserve Bank, which is a key indicator of a counterfeit bill, as genuine bills are associated with a specific bank.
Outlines
💼 History and Role of the Secret Service in Counterfeit Currency
The paragraph discusses the historical significance of counterfeit money as a tool of sabotage and its impact on the United States. It highlights the role of the Secret Service, which was formed during the Civil War to combat the rising issue of counterfeit currency printed by the Confederate Army. The paragraph also touches on the high-level artistry involved in creating counterfeit Federal Reserve notes, which are often undetectable to the untrained eye. It mentions the failed attempts by the Nazis during World War II to destabilize the U.S. dollar by creating counterfeit currency. The Secret Service's ongoing efforts to suppress counterfeit currency and the seizure of such bills in major financial regions are also covered. The paragraph concludes with an introduction to the security features incorporated into Federal Reserve notes, some of which remain classified.
Mindmap
Keywords
💡Counterfeit money
💡Secret Service
💡Spurious money
💡Watermarks
💡Optical varying ink
💡Microprinting
💡Colored fibers
💡3D hologram strip
💡Serial number
💡Federal Reserve Bank
💡Security standards
Highlights
Counterfeit money is a significant weapon of sabotage.
Counterfeit currency has played a vital role in US history.
Secret Service offers training to banks on detecting counterfeit money.
There are minute differences in counterfeit bills that are detectable by experts.
The Secret Service was formed during the Civil War to combat counterfeit currency.
High-level counterfeit currency is an artistic formation of Federal Reserve notes.
Counterfeit bills are often undetectable to the common person and sometimes even banks.
During WWII, the Nazis attempted to destabilize the US dollar with counterfeit currency.
US experts secured the Treasury and financial institutions from counterfeit impacts.
Hundreds of thousands of dollars of counterfeit currency are seized weekly in the US.
The Secret Service's role is to suppress counterfeit currency circulation.
Federal Reserve notes contain classified security features.
Watermarks are embedded into the paper of 20 and 100 dollar bills.
Optical varying ink changes color on the move and is a visible security feature.
Microprinting is a key indicator of genuine bills and cannot be photocopied.
Microprinting on the $100 bill includes fine text under magnification.
Colored fibers and UV-reactive elements are embedded in genuine bills.
Higher denomination bills have a 3D hologram strip as an additional security feature.
Every bill has a unique serial number used by the Secret Service for tracking.
Counterfeit bills often do not follow the correct serial number sequence.
Counterfeiters aim to undermine the credibility of the US financial system.
The Secret Service works with the Treasury to develop inherent security standards in bills.
Transcripts
- [Reporter] Counterfeit money is an important weapon
of the saboteur.
- [Jonathon] Throughout time,
counterfeit currency has played a vital role
in the history of the United States.
- [Reporter] To banks, and other financial institutions,
Secret Service offers instruction
in how to detect spurious money.
There are always minute differences obvious
to the trained eye which make detection possible.
- Since the Secret Service inception,
they have worked tirelessly
to suppress counterfeit currency.
[suspenseful music]
A lot of people are unaware
that the United States Secret Service
was formed during The Civil War in response to the rising
of counterfeit currency that was being printed
by the Confederate Army and distributed in the North.
When we talk about counterfeit currency,
what we're talking about isn't something
that you print at home,
we're talking about a very high-level artistic formation
of Federal Reserve notes.
Notes that are so undetectable to the common person,
and they're very oftentimes not even picked up in banks.
During World War II,
Hitler and the Nazis tried the same methodology.
They forced Jewish artisans to create counterfeit currency
to try to destabilize the U.S. dollar globally,
all of those attempts failed.
Their experts in genuine currency said they were able
to secure the Treasury and the U.S. financial institutions
from this impact of counterfeit currency.
In major financial regions of the United States,
hundreds of thousands of dollars of counterfeit currency
are seized every week.
The role of the Secret Service is to suppress
that counterfeit count and ensure
that those bills don't continue circulating
through the U.S. economy.
Incorporated into every Federal Reserve note
are certain security features.
Some of those security features remain classified
and are closely guarded secrets of the U.S. Government.
Here, we're looking at a 20 and $100 Federal Reserve note.
Both have watermarks that are printed into the paper itself.
A process that's developed when the paper stock is made
and it's embedded into the fibers.
It's not a print,
it's actually an imprint into the paper itself.
Additionally, a common feature that is seen
with the naked eye,
is present in the lower right-hand corner
of the 20 and the $100 bill,
and it's called optical varying ink.
It's image shifting ink that changes color
as the bill moves.
Microprinting is fine, fine artistic work,
that's embedded in the genuine plate,
and what that means is you can't take a bill
and photocopy it and have it have
the same quality in the microprinting,
it'll come through as just a straight line.
That's a key indicator that it would be a counterfeit bill.
One feature on the $100 bill,
if you look very finely printed on the lapel of Franklin,
is microprinting, it says the United States of America.
Very hard to see with the naked eye,
but under magnification, it's another security feature.
An finally, embedded are colored fibers,
red, blue, and there's also some that glow with UV lighting.
These are key indicators of a genuine bill.
On the higher denomination bills,
there's a 3D hologram strip that's imprinted into
the fiber itself that is again,
another indicator of a genuine bill.
Every bill from the one to the 100,
has a serial number,
that serial number for the Secret Service
is used as a tracking device.
We know what genuine bills look like
and we know what their serial number and sequence are.
Counterfeiters don't, necessarily.
So oftentimes,
a bill that does not follow a specific sequence
are a key indicator of a counterfeit Federal Reserve note.
Every genuine Federal Reserve note is associated
to a Federal Reserve bank,
that is indicated on the bill via specific locations here.
Oftentimes counterfeiters don't align the bill
to the right Federal Reserve Bank,
again, a key indicator of a counterfeit bill.
Counterfeiters seek to undermine the credibility
of the U.S. financial system by just the sheer manufacturing
of counterfeit currency.
The Secret Service, mindful of the impact that this has,
they've worked with the Department of the Treasury
to come up with security standards
that are inherent in every bill.
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