What Should You Do With Counterfeit Money?

Melissa realized that one of the $5 bills in her wallet is fake:

From what I’ve seen online, if I take it to a bank, they might take it, but of course I won’t be compensated. Should I turn it into the police? What should I do with it? I don’t really want to just pass it along.

Uh, yeah, don’t pass it along or you’ll be passing counterfeit money, which is pretty illegal. Don’t take it to a bank, either. Take it to a nearby police station or a US Secret Service field office. Ideally, you shouldn’t be handling it, so put it in a plastic baggie and carry it around like that.

As far as compensation, we’re pretty sure you’re just out the five dollars. That’s why it’s called a crime!

Just last month, Boston Police announced that $100,000 worth of fake bills (warning: autoplay video) had been introduced in the Boston area. It’s probably a good move to familiarize yourself with the basics of how to spot counterfeit money so you can watch out for it when you’re engaged in business transactions.

“Know Your Money” [SecretService.gov]
(Photo: CJ Sorg)

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