Counterfeit Corner

Welcome to ‘Kerre’s Counterfeit Corner’. This new monthly column will cover many aspects of counterfeit banknotes and periodically include interesting counterfeit examples.

There are many terms used to describe counterfeit banknotes; so without getting into the legal definitions which varies from country to country, here is a quick summary: 

Counterfeit – an imitation of a genuine banknote – It doesn’t have to be a good one!

Bleached – the ink is removed from a genuine banknote (usually of a lower denomination) and reprinted in a higher denomination, keeping the genuine substrate and it’s security features.

Simulation – a counterfeit banknote is a simulation of a genuine, but this term usually refers to the imitation of security features.

Harvested – a genuine security feature is removed and adhered to a counterfeit banknote.

Pieced notes – some portions of the banknote are genuine, and some parts are counterfeit, kind of like a jigsaw puzzle.

Motion picture money – also called prop notes. Used for movies but are now available to purchase online.

Chinese training notes – used for training cashiers and cash handlers but are now available to purchase online.

Pseudo/novelty notes – these are banknotes that have never been officially issued. such as Disney Dollars, banknotes with Obama’s image or a $1 million US banknote.

Altered – genuine banknotes that have been overprinted, such as banknotes with gold foil images.

Raised – the denominations have been changed from a lower denomination to a higher one – for example a $1 to a $10. This usually occurs when the banknotes look similar and are the same size.

When talking about banknotes, ‘forged’ and ‘counterfeit’ are interchangeable. Whereas for identity documents a counterfeit is a reproduction of the entire document and a forgery contains alteration(s) of a genuine document.

Clear as mud? These terms can be quite confusing and may not determine whether in fact a banknote is counterfeit or fraudulent. For a central bank/issuing authority, knowing what kind of counterfeits are being passed can help you determine how to deter the counterfeiters.

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