Most people will still accept the older bills, and since these older bills have none of the fancy features of the newer ones, they are much easier to reproduce. Neighbor-spoofing Robocalls Are the New Nuisance. Crowdfunding or Crimefunding? Fraudsters Kickstart Money Laundering Campaigns. How Wine Fraud Works. Getting Around Security Features.
Show less If you have a bill in your possession and are unsure of its authenticity, follow these steps to certify the real value of your money. It is illegal to possess, produce, or use counterfeit money; if a prosecutor can prove that you have intent to defraud, federal law can punish you with a fine and maximum 20 years in prison. If you acquire a counterfeit banknote, you must turn it in to the appropriate authorities. To detect counterfeit US money, feel the texture of the money to see if it's oddly soft, papery, or smooth, which could be a sign that it's counterfeit.
And though it's true that counterfeiters' techniques are getting more and more complex, there are numerous things retail employees can do to recognize counterfeit money. Counterfeit money is a problem businesses need to guard against on an ongoing basis. If a business accepts a fake bill in payment for merchandise or services, they lose both the face value of the bill they received, plus any good or services they provided to the customer who paid with the counterfeit bill. Fake bills show up in different states in different denominations at different times.
The first United States Note with this value was issued in and the Federal Reserve Note version was launched in , alongside other denominations. The bills are also commonly referred to as "Bens," "Benjamins," or "Franklins," in reference to the use of Benjamin Franklin 's portrait on the denomination, or as "C-Notes," based on the Roman numeral for It is also the only denomination today to feature a building not located in Washington, D. The time on the clock of Independence Hall on the reverse, according to the U. Bureau of Engraving and Printing, showed approximately  on the older contemporary notes and on the newer colorized notes.