Proctor Police Warn of Counterfeit Currency Currently Circulating in Minnesota
The Proctor Police Department is warning the public of counterfeit currency that is currently circulating in Minnesota and it could very well find its way into the Northland.
While you'd think you'd be able to spot counterfeit currency, it can be difficult when transactions happen quickly and the money can be passed in a variety of scenarios.
The Proctor Police Department utilized their official Facebook page this week to warn merchants of what has been recently spotted in the state.
Merchants please be aware of some counterfeit currency being circulated. The currency is used in the motion picture industry and was stolen. If you encounter any type of counterfeit currency please remember to keep handling of the currency to a minimum, and report the counterfeit currency to your local Police Department or Sheriff's Office. Thank you.
The Minnesota Credit Union Network is urging credit unions to alert their front-line staff to carefully examine any cash deposits for bills that are marked with 'For Motion Picture Use Only' or 'Copy'. They note that similar bills have created issues for businesses and financial institutions in the past.
The fake money is in $10, $20 and $100 denominations it has already been spotted in Minnesota Credit Unions.
The United States Secret Service says "the threat of counterfeit U.S. currency to the financial system of the United States continues to evolve. Advances in technology, the availability of scanning and printing devices and the adoption of the U.S. dollar by nations as their legal tender have exacerbated the global threat."
They urge all citizens to report suspected counterfeit currency to their local authorities. Law enforcement agencies, banks and cash processors can then submit suspected counterfeit currency to the Secret Service for further investigation.