Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Counterfeiting arrests up 28 this year
McLEAN, Va. (12/30/08)--As the economy sours, more consumers are trying to pass counterfeit bills, according to a Sunday USA Today article. The number of arrests for counterfeiting increased 28% this year and is the highest since 2004. Counterfeiters passed a record $64.4 million in fake bills--a 5% increase over last year. The spike in counterfeit bills is due to the struggling economy, Lt. Alfonzo Cook of the Moultrie, Ga., detective division, told USA Today. More technologically advanced printers and scanners make the bills easier to duplicate, the newspaper said. Police say counterfeiters use the fake bills for small purchases--such as $20 for gas and food. Counterfeiters also use the bills to pay for holiday gifts. The holidays are a great time to use counterfeit bills because cashiers are overwhelmed, said John Large, Secret Service special agent. For the full article, use the link.
Other Resources

RSS print
News Now LiveWire
.@TheNCUA :Low-income CUs can expand services to members, train staff,collaborate for efficiencies w/more than $1M in grants awarded 2day
6 hours ago
.@CUNA joins 11 other financial service orgs urging @SenateFloor to take up #CISA to strengthen cybersecurity information sharing
7 hours ago
.@RedwoodCU and its staff donated a combined $5,100 toward AIDS Walk San Francisco. The CU is a longtime sponsor of the event.
7 hours ago
See the latest from @CUNA's CompBlog on Customer Due Diligence. http://t.co/rzOzDUpNMT
7 hours ago
New #FinCEN proposal would strengthen, clarify due diligence obligations for financial institutions. http://t.co/2yxVUXCrYA
7 hours ago