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The most counterfeited bill in the world

The most counterfeited bill in the world

The new U.S. $100 bill is introduced by Michelle Scipione, vice president of the Philadelphia Federal Reserve Bank Cash Services Department, during an event at the Benjamin Franklin National Memorial in Philadelphia October 8, 2013. REUTERS/Tom Mihalek

The notes, which retain the image of American statesman and scientist Benjamin Franklin, include two new security features – a blue three-dimensional security ribbon with images of bells and 100s, and a color-changing bell in an inkwell, the Fed said in a statement.

The new U.S. $100 bill is introduced by Michelle Scipione, vice president of the Philadelphia Federal Reserve Bank Cash Services Department, during an event at the Benjamin Franklin National Memorial in Philadelphia October 8, 2013. REUTERS/Tom Mihalek

The notes, which retain the image of American statesman and scientist Benjamin Franklin, include two new security features – a blue three-dimensional security ribbon with images of bells and 100s, and a color-changing bell in an inkwell, the Fed said in a statement.

The $100 bills, the biggest U.S. denomination known in American slang as “Benjamins,” also keep security features from the previous design, such as a watermark.

“The new design incorporates security features that make it easier to authenticate, but harder to replicate,” said Federal Reserve Board Governor Jerome Powell said in a statement.

U.S. officials have said the $100 note is the most frequently counterfeited denomination of U.S. currency outside the United States due to its broad circulation overseas. In the United States, the $20 bill is the most frequently counterfeited note.

Sonja Danburg, program manager for U.S. currency education at the Fed, said about 3.5 billion new $100 bills had been stockpiled. There are about $900 billion in $100 notes in circulation, with half to two-thirds outside the United States, she said.

The United States has about $1.15 trillion in genuine currency in circulation, and less than 1/100th of 1 percent of that value is counterfeit, Danburg said.

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Benjamins are the highest-denominated notes issued by the Federal Reserve since the United States stopped issuing $500, $1,000 and $10,000 notes in 1969.

The new bills have been in development since 2003. The new bills cost about 12.5 cents each to make, 5 cents more than the previous notes because of the greater complexity of the design, Danburg said.

The average $100 bill lasts about 15 years before wearing out and being pulled from circulation. The more frequently handled $1 note lasts about six years, Danburg said.

The Fed said people with old bills did not need to trade them in for new ones since all designs of U.S. currency remained legal tender.

The $100 bills, the biggest U.S. denomination known in American slang as “Benjamins,” also keep security features from the previous design, such as a watermark.

“The new design incorporates security features that make it easier to authenticate, but harder to replicate,” said Federal Reserve Board Governor Jerome Powell said in a statement.

U.S. officials have said the $100 note is the most frequently counterfeited denomination of U.S. currency outside the United States due to its broad circulation overseas. In the United States, the $20 bill is the most frequently counterfeited note.

Sonja Danburg, program manager for U.S. currency education at the Fed, said about 3.5 billion new $100 bills had been stockpiled. There are about $900 billion in $100 notes in circulation, with half to two-thirds outside the United States, she said.

The United States has about $1.15 trillion in genuine currency in circulation, and less than 1/100th of 1 percent of that value is counterfeit, Danburg said.

Pentagon invests in “super-soldier” exoskeletons

Benjamins are the highest-denominated notes issued by the Federal Reserve since the United States stopped issuing $500, $1,000 and $10,000 notes in 1969.

The new bills have been in development since 2003. The new bills cost about 12.5 cents each to make, 5 cents more than the previous notes because of the greater complexity of the design, Danburg said.

The average $100 bill lasts about 15 years before wearing out and being pulled from circulation. The more frequently handled $1 note lasts about six years, Danburg said.

The Fed said people with old bills did not need to trade them in for new ones since all designs of U.S. currency remained legal tender.

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How much counterfeit money is in circulation 2016?

How much counterfeit money is in circulation 2016?

The counterfeit trade is booming with nearly half a trillion dollars in fake good sold each year, according to a new report.

The value of imported fake goods worldwide stood at $462 billion (£270 billion) in 2013 – the equivalent of the global economic output of Austria or the combined GDP of Ireland and the Czech Republic.

Counterfeiting of the currency of the United States is widely attempted. According to the United States Department of Treasury, an estimated $70 million in counterfeit bills are in circulation, or approximately 1 note in counterfeits for every 10,000 in genuine currency, with an upper bound of $200 million counterfeit, or 1 counterfeit per 4,000 genuine notes.[1][2]However, these numbers are based on annual seizure rates on counterfeiting, and the actual stock of counterfeit money is uncertain because some counterfeit notes successfully circulate for a few transactions

 

Shortly after the Civil War, it was estimated that one third to one half of the nation’s currency was counterfeit. Due to this fact, counterfeit money posed a major threat to the economy and financial system in America.

In accordance, the Secret Service, founded in 1865, stated its primary task to be reducing counterfeit money in circulation. The current figure of American counterfeit bills is less than .01%.[3]

Several specific examples of groups counterfeiting United States currency have also been noted.

Operation Bernhard[edit]

During World War II Nazi Germany successfully produced high-quality counterfeits of American dollar and Bank of England pound notes although few ever were circulated thoroughly.

Superdollar[edit]

Superdollars, very high quality counterfeit one hundred-dollar bills, were some of the most widely distributed counterfeit American dollar bills and were still being produced after 2007. The Congressional Research Servicehas conducted a study and concluded with an accusation that North Korea was responsible for their production, but Pyongyang denied any involvement with Superdollar.[4]

Peru 2001 CB-B2 series $100 bill incident[edit]

In 2005, Peruvian Banks ceased to accept $100 bills from the 2001 series CB-B2, due to a detection in a series of counterfeit bills in Peruvian circulation. The Peruvian media reported that the notes were so well made that they were “perfect fakes”. The differences between them and genuine bills were reportedly minuscule and difficult to detect.[5] According to Peruvian news reports, a printing plate from the Bureau of Engraving and Printing was stolen by a criminal, with possible links to al-Qaeda, and the plate was likely used to produce the counterfeit bills.[6]

Operation Gait $100 bills[edit]

Bills forged by Anatasios Arnaouti in the UK (2005).

“Federal Reserve Bonds”[edit]

In recent years, metal boxes of fraudulent Federal Reserve Notes in astronomically high denominations (often in $100 million, $500 million, or $1 billion) and often with coupons attached have turned up in various easterncountries such as the Philippines or Malaysia. In many cases, the notes are claimed to be part of a lost trove of secretly issued Federal Reserve Notes, and are special or not known to the public due to secrecy. Also, the bonds are sometimes treated to make them look old by getting them wet and moldy. However, the Federal Reserve has never issued notes in such denominations, and has issued warnings against them on its website.[7] Additionally, there are several errors in the bonds as well as the metal boxes, many of them anachronistic.[8] The Federal Reserve Bank of New York writes that

The Federal Reserve is aware of several scams involving high denomination Federal Reserve notes and bonds, often in denominations of 100 million or 500 million dollars, dating back to the 1930s, usually 1934. In each of these schemes, fraudulent instruments are claimed to be part of a long-lost supply of recently discovered Federal Reserve notes or bonds.

Fraudsters often falsely claim that the purported Federal Reserve notes or bonds that they hold are somehow very special and are not known to the public because they are so secret. Fraudsters have attempted to sell these worthless instruments, or to redeem or exchange them at banks and other financial institutions, or to secure loans or obtain lines of credit using the fictitious instruments as collateral.

[7]

There have been several instances where people have used the fraudulent notes as legitimate currency, often resulting in arrest. In March 2006, agents from ICE and the Secret Service seized 250 notes, each bearing a denomination of $1,000,000,000 (one billion dollars) from a West Hollywood apartment.[9] The suspect had previously been arrested on federal charges for attempting to smuggle more than $37,000 in currency into the U.S. following a trip to South Korea in 2002. Much of the artwork on the notes was duplicated from the real $1000 bill, including the portrait of Grover Cleveland.[10] Another incident involving similar notes bearing a denomination each of $500,000,000, occurred in Chiasso, Switzerland in June 2009.

Materials and Prevention[edit]

In the United States, counterfeiters in small operations develop the fake currency using tools which often include; printers, an iron, and green colored water.[11] Upon collecting bills, the Federal Reserve checks all notes, destroying any whose appearance fails to fit that of a federal bill.

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What is SSD in chemical? How the solution is made ?

What is SSD in chemical? How the solution is made?

I would say that SSD Chemical Solution A compound of Mercury Mercuric Nitric dioxide liquid.(brown in color) manufactured under patented right from Novak International Laboratories Switzerland

Highly poisonous Mercury Mercuric polyhydroxydine dioxide liquid known as mercury dioxide- brown liquid is insoluble in water and is used in removing the anti breeze on the face of any currency note, giving the notes back its original colors. It can turns white negatives black before the chemical change is effected to turn into its original form. Its a key ingredient in minting industry We offer them in approved packaging thus assuring of transport and storage as they are very sensitive and require special handling

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