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Nowadays, the market for illegal or counterfeit money has expanded like never before, and that's why the government also needs to give special attention to bill marking to track and identify the bills used in illegal activities. Once the serial number is identified, it can be used for tracking the bill. When the government wants to mark a bill, they use the UV marking technique to mark the bill, as all these bills come with invisible ink. Marked bills are proof for the government that any kind of money laundering or illegal activities are going on somewhere so that the government can track them and take essential steps to stop these activities. Studies have shown that the most common counterfeit bills are $20 and $100 bills. The invisible ink on the counterfeit bills can be scanned using an infrared beam detector. This is the most common technology that the government uses to identify the unique chemical signature on the money bills. A high-quality and advanced money counting machine can identify these invisible markings on money bills so that the government can easily track those bills and find out where the illegal activities are taking place and whether more serious crimes are happening there or not. Government tracks the serial number and takes the steps.
Tips on how to avoid marked bills
Government identifies the marked bills by using a high-quality money counting machine that can identify those invisible ink signatures besides counting money bills. According to the statistics, 60% of $20 bills in the US are fake, as $20 counterfeit bills are most common in the US. On the other hand, $100 counterfeit bills are the most common overseas. The graph that is added below shows which dollar bills were counterfeit the most overseas till 2018.
So, we can say that it is very important to avoid accepting counterfeit bills to change the statistics. Cash is the primary way of transaction that most people use, so everyone needs to avoid taking counterfeit bills. Here are some tips that can help avoid counterfeit bills.
- Make sure to pay attention to the serial number
Fake bills usually have an improper serial number that can be written in a different colour or a different tone. The serial numbers can be oddly spaced and also can be fragmented. Also, fake bills usually have the same serial number, and all unmarked bills have different serial numbers. So, if you receive two bills of the same serial number, report it to the government.
- Color shifting ink
You can find the use of colour-shifting ink in the lower right corner of the dollar bill if it is marked.
- Look for the watermark
While receiving any payment in cash, make sure to check whether it has some watermark or not. All the unmarked and original Bank notes come with a watermark that can only be seen if the paper is held up to the light. If the watermark is absent in the bill, do not accept it.
- Make sure to check the characteristics of the paper
The bills are usually made of 25% linen and 75% cotton. So, we can say that all the reliable and original banknotes have the same paper quality. If the bill is counterfeit, it may not have the same quality, which can also indicate that it is not an original bill. While accepting any payment in cash, check the material and the texture of the bill.
- Go for a high-quality money counter and detector
We all know that it is next to impossible to check every bill properly before accepting it. The best way to avoid accepting any kind of counterfeit money or marked bill is to use a high-quality money counter that can efficiently identify marked or counterfeit bills. The government also uses these machines to verify a huge amount of cash bills in a few minutes as it is next to impossible and an extremely time-consuming process if it is done manually. The government can't check every currency bill separately, which is why they also use high-quality money counting machines to identify marked bills within a few seconds efficiently.
Our suggestion for tracking marked bills
Statistics show that 1 bill in every 10,000 bills is fake in the recent market, especially if we look at the USA. CNBC stated in 2015 that, there's more than $147 million fake U.S. currency circulating these days globally, CNBC reported in 2015. The number has increased by around 40% nowadays. So, you need the best to deal with this huge market of counterfeit bills.
- Get a high-quality money counting machine that can successfully identify both old and new currency bills, especially the bills that are counterfeit the most such as $20, $50, $100, $500, etc.
- Make sure that the money counting machine comes with ultraviolet and magnetic technology that can be used simultaneously or to detect any kind of marked bills precisely.
- The best money detectors also offer MT and 3D technology to detect fake notes.
- It is always wise to go for a machine with multiple functions such as detecting counterfeit money, counting bills and coins, and sorting them. Features are extremely important when choosing the best money-counting machine for tracking marked bills.
- Government cannot track any marked bill if they cannot identify that bill fast. People who are related to illegal activities can change their location in a few hours, which is why it is very important to go for a money detector that can work fast and count and sort a huge amount of cash in a few minutes.
- Go for the most advanced technology available in the market as every newly launched technology comes with some amazing new benefits that can be helpful.
- Go for a money detector and counter that can withstand long operation hours without any errors and is user-friendly so that anyone can easily use the machine without any complications.
Where to get the best money counter that can efficiently identify marked bills?
If you are looking for the best money counter machines that can efficiently identify all the marked bills in a few seconds, you can rely on Ribao Technology. We offer the most advanced and featureful money counting machines that can withstand long operation hours and vast loads of currency bills. We offer high-speed and professional money counter machines that can also be ideal for government agencies to track marked bills. All the money counting machines offered by our knowledgeable and professional team members are made for complete satisfaction so that you can run your business without worrying about marked bills. We offer these best-in-class machines at an affordable rate so everyone can benefit from them.
References:
https://www.rba.gov.au/publications/bulletin/2019/mar/recent-trends-in-banknote-counterfeiting.html