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Author | : DIANE Publishing Company |
Publisher | : DIANE Publishing |
Total Pages | : 75 |
Release | : 1996-05 |
Genre | : Money |
ISBN | : 0788128906 |
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Of the $380 billion in U.S. currency in circulation, over 60% may be held outside the U.S. The widespread use of U.S. currency abroad, together with outdated security features of the currency, make it a particularly vulnerable target for international counterfeiters. This report provides information on the nature of counterfeiting of U.S. currency abroad; the extent of that counterfeiting and of concerns about this issue, and the status of the U.S. efforts to deter such counterfeiting of U.S. currency abroad. Color illustrations.
Author | : |
Publisher | : |
Total Pages | : 80 |
Release | : 1996 |
Genre | : Counterfeits and counterfeiting |
ISBN | : |
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Author | : United States. General Accounting Office |
Publisher | : DIANE Publishing |
Total Pages | : 78 |
Release | : 1996 |
Genre | : Counterfeits and counterfeiting |
ISBN | : 1428979808 |
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Author | : |
Publisher | : |
Total Pages | : 77 |
Release | : 1996 |
Genre | : |
ISBN | : |
Download Counterfeit U.S. Currency Abroad: Issues and U.S. Deterrence Efforts Book in PDF, ePub and Kindle
U.S. currency is counterfeited by a diverse group of perpetrators using a variety of methods. Although counterfeiters may engage in this activity for direct economic gain, counterfeiting is sometimes linked with other more nefarious criminal endeavors, such as drug trafficking, aims dealing, and alleged terrorist activities. According to law enforcement officials, counterfeiters run the gamut from office workers to organized crime and terrorist groups, and the equipment used for counterfeiting U.S. currency ranges from photocopiers to sophisticated offset presses. Moreover, the quality of counterfeit notes varies significantly, and even those made using the same method vary according to the sophistication of the perpetrator and the type of equipment used. Of increasing concern is the fact that certain foreign counterfeiters are becoming extremely sophisticated and are producing very high-quality counterfeit notes that are more difficult to detect than any previous counterfeits. Due to the criminal nature of this activity, the true extent of counterfeiting of U.S. currency abroad cannot be determined. The total level of counterfeit-currency detections-$208.7 million in fiscal year 1994-represented less than one one-thousandth of U.S. currency in circulation. Both Treasury and Secret Service officials agreed that counterfeiting of U.S. currency is a threat to be taken seriously, but that it is not now at a level that poses an economic threat to the U.S. monetary system. Treasury Department and Secret Service officials use counterfeit-detection data from the Secret Service to help assess the extent of counterfeiting. The Secret Service has also used these data to demonstrate significant increases in counterfeiting activity abroad, citing a 300-percent rise in detections in fiscal year 1993.
Author | : Spencer Bachus |
Publisher | : DIANE Publishing |
Total Pages | : 183 |
Release | : 1999-05 |
Genre | : |
ISBN | : 0788145401 |
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Hearing on the problem of counterfeiting of U.S. currency abroad and its implications. Legislation making international counterfeiting of U.S. currency a Federal offense was only passed in 1994. Counterfeiting is one part of a double problem, the other being money-laundering; the two are usually found together. Witnesses include Theodore Allison, Board of Governors, Federal Reserve System; Jack Blum; Eljay Bowron, Director, U.S. Secret Service; Institute for National Strategic Studies; Dept. of the Treasury; American Numismatic Assoc; Robert Sims, State Dept.; and Kenneth Timmerman, Middle East Data Project.
Author | : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on General Oversight and Investigations |
Publisher | : |
Total Pages | : 196 |
Release | : 1996 |
Genre | : Social Science |
ISBN | : |
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Author | : United States. General Accounting Office |
Publisher | : |
Total Pages | : 74 |
Release | : 1996 |
Genre | : |
ISBN | : |
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U.S. currency, reportedly the most widely held in the world, is susceptible to counterfeiting. The Federal Reserve estimates that of the $380 billion of U.S. currency in circulation, more than 60 percent may be held outside the United States. The widespread use of U.S. currency abroad, together with the outdated security features of the currency, make it particularly vulnerable to international counterfeiters. Widespread counterfeiting of U.S. currency could undermine confidence in the dollar and, if done on a large enough scale, could harm the U.S. economy. This report discusses (1) the nature of counterfeiting of U.S. currency abroad, (2) the extent of that counterfeiting and of concerns about this issue, and (3) the status of U.S. efforts to deter such counterfeiting. GAO summarized this report in testimony before Congress; see: Counterfeit U.S. Currency Abroad: Observations on Counterfeiting and U.S. Deterrence Efforts, by JayEtta Z. Hecker, Associate Director for International Relations and Trade Issues, before the Subcommittee on General Oversight and Investigations, House Committee on Banking and Financial Services. GAO/T-GGD-96-82, Feb. 27 (21 pages).
Author | : U S Government Accountability Office (G |
Publisher | : BiblioGov |
Total Pages | : 22 |
Release | : 2013-07 |
Genre | : |
ISBN | : 9781289165093 |
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GAO discussed U.S. efforts to combat international counterfeiting of U.S. currency. GAO noted that: (1) U.S. currency is vulnerable to international counterfeiting because it is widely used abroad and lacks updated security features; (2) counterfeiters range from office workers to organized crime and terrorist groups using equipment ranging from simple photocopiers to sophisticated offset presses; (3) the U.S. government is particularly concerned about a high-quality counterfeit note known as the "Superdollar" and rapid advances in photographic and printing devices; (4) U.S. agencies' and foreign governments' views on the extent and significance of counterfeit U.S. notes vary, and U.S. counterfeit-detection activities are limited and inconclusive; and (5) to deter international counterfeiting, the Department of the Treasury is redesigning U.S. currency to incorporate more security features, the Secret Service has gathered additional information on counterfeiting and provided counterfeit-detection training, and the U.S. government is using international and interagency task forces and diplomatic efforts to eradicate the Superdollar.
Author | : |
Publisher | : |
Total Pages | : 13 |
Release | : 1997 |
Genre | : Money |
ISBN | : |
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Currencies are susceptible to counterfeiting, but the stability and worldwide acceptance of the U.S. currency has made it a target for international counterfeiters. Although counterfeiters may engage in this activity for direct economic gain, counterfeiting is sometimes linked with other more nefarious criminal endeavors, such as drug trafficking, arms dealing, and alleged terrorist activities. Widespread counterfeiting of U.S. currency could undermine confidence in the currency. Further, if done on a large-enough scale, this activity could reduce international holdings of U.S. currency and have a negative effect on the U.S. economy. While the extent of counterfeit U.S. currency produced and circulated in foreign countries is difficult to determine, an evaluation of the threat can be used to allocate scarce resources and to assess the effectiveness of measures to combat counterfeiting. Upon request, the General Accounting Office reviewed the Audit Plan of the Secretary of the Treasury on the Uses and Counterfeiting of U.S. Currency in Foreign Countries to determine whether it will enable the Secretary of the Treasury to (1) study the use of U.S. currency in foreign countries, (2) study the holding of U.S. currency in foreign countries, and (3) develop useful estimates of the amount of counterfeit U.S. currency that circulates outside the U.S. each year.
Author | : |
Publisher | : |
Total Pages | : 0 |
Release | : 1997 |
Genre | : Money |
ISBN | : |
Download U.S. Currency Book in PDF, ePub and Kindle
Currencies are susceptible to counterfeiting, but the stability and worldwide acceptance of the U.S. currency has made it a target for international counterfeiters. Although counterfeiters may engage in this activity for direct economic gain, counterfeiting is sometimes linked with other more nefarious criminal endeavors, such as drug trafficking, arms dealing, and alleged terrorist activities. Widespread counterfeiting of U.S. currency could undermine confidence in the currency. Further, if done on a large-enough scale, this activity could reduce international holdings of U.S. currency and have a negative effect on the U.S. economy. While the extent of counterfeit U.S. currency produced and circulated in foreign countries is difficult to determine, an evaluation of the threat can be used to allocate scarce resources and to assess the effectiveness of measures to combat counterfeiting. Upon request, the General Accounting Office reviewed the Audit Plan of the Secretary of the Treasury on the Uses and Counterfeiting of U.S. Currency in Foreign Countries to determine whether it will enable the Secretary of the Treasury to (1) study the use of U.S. currency in foreign countries, (2) study the holding of U.S. currency in foreign countries, and (3) develop useful estimates of the amount of counterfeit U.S. currency that circulates outside the U.S. each year.