Dealing with Counterfeits

Question:

Please explain the procedures to follow when a customer hands us a counterfeit bill to deposit (in a stack of bills.) How is the procedure different if the deposit comes in through the night deposit?

Answer:

Presuming that you mean discovering the counterfeit while the customer is standing in front of you -- seize the bill. Debit the customer's deposit and explain why. Tell the customer that you must -- by law -- seize counterfeit currency and that the U.S. Secret Service may contact him/her to determine how the customer received the counterfeit. Then place the counterfeit in a clear, plastic envelope, write a report explaining the event and forward both the counterfeit and the report to the Security Officer for a follow-up investigation.

On the BOL Security Launch Pad, you'll find step by step instructions from the Secret Service for dealing with counterfeit bills, information on How to Detect Counterfeit Currency, and a self-executable file to download the Counterfeit Report Form there. (Click the link, save the file to your hard drive to a spot you will remember. Use Windows Explorer to find the file and double-click on it to execute it.

First published on BankersOnline.com 2/5/01