The Counterfeiting Of Us Currency Abroad PDF Download

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.