‘Tis The Season For Conniving Counterfeiters?

LOS ANGELES (CBS) — With the holidays coming up, the Secret Service says ’tis the season for counterfeiters.

KNX 1070’s Ed Mertz Reports

Eisenhower Lee with the neighborhood council in Koreatown is reminding local businesses to carefully check the money they take from customers.

He says the Secret Service warned Koreatown businesses that counterfeiters are chemically erasing parts of $5 bills and covering them with $20, $50 or $100 denominations.

However, the security devices, such as color bars or holograms remain, which can trick those who are busy handling cash or don’t know what to look for when scanning the bill.

Scam artists, he says, are likely to target businesses that take in large amounts of cash, such as restaurants or retailers that hire temporary workers who might not be trained to spot fake money.

(©2010 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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