Posted by
Ribao Technology on Friday, March 27, 2009 5:00:00 PM
For most retailers,
the only line of
defense against counterfeiting is an adolescent clerk who holds the large bill
up to the light, but has no idea what she is supposed to be looking for. Some
however, have a secondary precaution of requiring managers to inspect the
bills; managers who despite their post-adolescence, have no idea what they're
supposed to be looking for.
Insurance providers
do not compensate for counterfeit losses because the policy holder is
responsible for regulating the currency that it willfully accepts. Even more
alarming is the near certainty that businesses, banks included, that pass along
counterfeit money will not assume liability for it.
The best way for a
company to protect itself against "getting stuck with the [homemade]
bill" is to use a bill counter with counterfeit detection.
Banks have them. When making a substantial withdrawal or cashing a sizeable
check, insist that the teller use the bill
counter rather than her fingers. Even if it seems petty, it's less of a hassle
than attempting to recover counterfeit funds.
Also, every business
should have a money counting machine
with the counterfeit detection feature to ensure that all the paper money that
changes hands is money and not just paper. Depending on where it's purchased,
companies can buy money counters for
less than one of the most commonly falsified bills.
It takes no more
effort to check with a machine than with a manager and by doing so, the clerks
and managers can stop pretending they know how to spot a fake. So in a way,
buying a bill counter prevents counterfeiting twice.