Most US states makes it illegal to possess fake currency based on two main conditions:
- The individual knows the money is fake
- The individual tries to use the money to deceive or defraud another person
When individuals are found guilty of possessing fake currency, the offense can lead to a felony charge leading to several years in prison or jail, or a lesser misdemeanor.
However, some people try to challenge the false money possession or usage charge legally. Individuals often claim that they were unaware the cash was fake or did not try to deceive anyone. Some people claim that other parties falsely accused them or that another party gave them the money and framed them.
The process of counterfeiting money is a different offense. When individuals create fake money knowingly, and for financial gain, they commit a crime.
What is Money Counterfeiting?
When individuals print fake money, they commit forgery and violate federal law. US laws against false printing money involve the “obligations and securities of the US,” which include paper money, coins, treasury bills, bonds, Federal Reserve notes, and other financial tools of the US government.
Only the US government can print or coin its country’s currency. Therefore, when monetary instruments are not produced in one of the two US Treasury Department’s Mints, they are counterfeit. Individuals who create or distribute fake money commit a federal criminal offense.
Where Does Fake Money Come From?
Most US fake money is now overseas, circulating through other countries. Research shows that half of all “real” US currency is abroad.
Federal laws allow prosecutors to convict counterfeiters outside the US. Still, at the same time, the US has not yet sanctioned the International Convention for the Suppression of Counterfeit Currency.
How Do People Counterfeit Money?
Creating false currency was an arduous process involving ink, paper, printing plates, and a surplus of time and labor. However, our digital age has made the counterfeiting process much easier and less time-consuming. Therefore, the dangers of false currency only grow as fake cash finds its way through the globe.
What Are the Prohibited Acts with Fake Money?
According to US federal law, anyone who forges money, counterfeits money or alters or manipulates any US obligations or securities while intending to deceive another person commits a crime.
Any fraudulent attempt to use fake money for purchases, deposits, or sales is illegal.
The basis of the criminal act depends on the individual’s “intent to defraud.” This distinction intends to protect the individuals unaware that their money is fake and who use it in acts of commerce.
People who use fake money without knowing are typically not found guilty. Individuals must practice intent; they must know the money is fake and then use it to benefit themselves.
However, when individuals create or possess equipment used to make fake money, they can be federally charged. For example, if an individual makes digital copies of real paper bills, that is a criminal offense.
Along with this, when individuals own specific types of counterfeit paper or counterfeit ink used during the production of fake money, they also violate federal law. This rule is in place because these materials are meant exclusively for the use of the US Treasury Department and no one else.
Commonly Asked Questions About Fake Currency
The creation and use of fake money is an issue surrounded by controversy, and many individuals do not fully understand the problems associated with counterfeit currency. Here are the most frequently asked questions about fake money.
Is the Possession of False US Currency a Crime?
Having fake money in one’s possession is typically a crime, but two caveats must be true. One, the person must be aware that the money is not real. Two, the person must knowingly use the money for deceitful means.
For example, if an individual convinces someone else that the money is real and then they sell it, that is evidence of a crime. Likewise, when a person intends to deceive or defraud someone else for personal benefit or to harm another, that is evidence of a crime.
Many think these rules of intent and fraud apply only to fake paper money, but they also apply to fake money orders, bank bills, coins, and other forms of currency.
- Do Individuals Sometimes Challenge Fake Currency Possession Charges?
People often attempt to challenge counterfeit criminal charges with a few key defense strategies. These strategies include ideas such as:
- They thought the fake money was real government tender
- They did not intend to deceive anyone or commit fraud
- The police did not have just or probably cause
- The individual was falsely accused
When individuals feel mistreated by law enforcement or wrongfully accused, they should contact an experienced attorney for help.
What Are The Penalties For Holding Fake Cash?
Individuals will face penalties based on three important factors. These factors include:
- The facts of the case
- If the person has a criminal record
- The laws of the particular state
Possessing fake money can be treated as both a misdemeanor and a felony, depending on the details of the case, so individuals must know their rights and understand state and federal policies.
Contact Nakase Wade with Questions
While some people think that fake money is harmless, false currency creates many complicated problems for people who possess it, use it, or wrongly believe it is “real.”
For example, when individuals commit fraud using fake currency, one party usually suffers damages, and the authorities must bring the deceitful party to justice. Likewise, those who make fake cash face severe penalties.
At Nakase Wade, our concerns rest with our clients. Contact us if you feel that you have been taken advantage of with fake currency. On the other hand, if you feel you have been wrongfully accused of possessing or willfully using fake money for ill intent, we invite you to contact us as well.
Our goal is to ensure that our clients maintain their rights in any circ*mstance, including those surrounding false currency. The usage of fake money creates many complex legal issues, but our experienced attorneys have the answers. Contact Nakase Wade today to review your case during a free consultation.
