Gamze BAL
Created Date: November 20, 2024 04:00
For the last 1-1.5 months, there has been a panic about fake 50 and 100 dollars in the market. It is stated that these dollars, which are stated to be very difficult to distinguish from the real ones, are passed through money counting machines that do not have software updates. When a case of fraud occurred in some branches of a bank, banks became vigilant. Speaking to Hürriyet, Authorized Institutions Association President Mustafa Ünver said, “Fake dollars printed in the Middle East, Asia and the Balkans are being tried to be released to the market through the Istanbul Grand Bazaar.”
In recent months, there have been developments in the market that are reminiscent of the Counterfeit TV series, which tells the story of an ordinary Mint officer who starts printing money to get rich. When the Banks Association of Türkiye (TBB) sent a warning letter to the banks regarding the issue, the banks became vigilant. In a note sent by a bank to its staff after TBB’s information letter, it was pointed out that fraud was committed with fake $50 banknotes. In the article obtained by Hürriyet, “We have been informed that there has been a case of fraud in some branches of a bank. The relevant counterfeit banknotes can pass through money counting machines, and the updating efforts of the money counting machines currently used in our bank are continuing in this context. “It is important to be more careful and take the necessary precautions in physical $50 banknote transactions in our branches.”
Mustafa Ünver, President of the Authorized Institutions Association, an NGO formed by foreign exchange offices across the country, said, “Fake dollars printed in the Middle East, Asia and the Balkans are being tried to be released to the market through the Istanbul Grand Bazaar. There are definitely some in Anatolia, but mostly in the Grand Bazaar. This situation has existed for approximately 1-1.5 months. “But the market has just started to hear it,” he said.
PASSED THROUGH THE MACHINE AND THE PURPLE LIGHT
According to the banking sources we reached, a case of fraud in a private bank was prevented at the last minute. The foreign currency brought to the bank, including a $50 bill, passed through both the money counting machine and the purple light; It was stated that it was noticed only thanks to the expertise of a bank employee.
‘TOO MUCH QUALITY TO BE DISTINGUISHED’
Ünver emphasized that this time the forgery has increased and that the fake dollar bills printed are of high quality and therefore cannot be easily detected. Ünver said, “The ones printed this time are of higher quality. We saw that the blue stripe in the middle of the dollar was made very close to the original. If the software of the money counting machine has not been updated, the machine will not detect the counterfeit. Therefore, those who are not experts can easily be deceived,” he said.
Regarding the fact that the fake dollar banknotes in question can even pass through money counting machines in banks, Ünver said, “Although this is not the case in every bank, most banks obtain their money counting machines by renting. “The rented company usually makes updates if the bank brings a complaint about a fraud,” he said.
Ünver reminded that the same situation occurred 3-4 years ago with 200 and 500 Euro banknotes and said, “Around 1 million 700 thousand fake Euros were released in the Grand Bazaar, and this gradually spread to Anatolia.”
100 DOLLARS IN ANKARA
According to the information given by Ünver, counterfeiting occurs not only in $50 banknotes but also in $100 banknotes. Stating that fake 100 dollar banknotes are also encountered in Ankara, Ünver said, “However, this problem mostly exists in 50 dollar banknotes. Because as the amount of money increases, its controllability also increases. “$50 is not scrutinized very much,” he said.
HOW TO UNDERSTAND?
It is very difficult to detect fake dollar banknotes through physical contact, even through MONEY counting machines; It is stated that it is not possible for an ordinary citizen who is not an expert on the subject to understand. However, the points that need to be taken into consideration are summarized as follows:
THE RAW MATERIAL OF PAPER IS COTTON
The pulp of the dollar consists of 75 percent cotton and 25 percent flax; Therefore, it is stated that the increase in cotton prices also affects the production cost of the dollar. All US dollars are printed on cotton-linen paper that absorbs ultraviolet light.
In addition to being printed, it contains red and blue capillary fibers. In addition, coin series shine under safety tape and UV light. However, it is still not easy for non-experts to understand. In addition, according to the information on the Central Bank’s website, the original TL banknote paper is produced from 100 percent cotton fiber.
MICRO WRITING
According to the information provided by the General Directorate of Security, the phrase ‘The United States of America’ is written in micro form in the last row of three rows of frame lines around the portrait on the front of the 50 dollar bill. In the 2004 edition, there are the phrases “USA 50” and “USA FIFTY” written repeatedly on the two stars on the right and left of the US Federal Reserve seal on the front of the banknote. In addition, the words ‘The United States of America’ are written in micro form on the left collar of the person’s shirt.
COLOR CHANGING INK
According to the information in the EGM, the number “50” on the front of the $50 banknotes appears green when viewed upright, and black when viewed from an angle. In the 2004 edition, the number “50” is known to change from copper to green when the banknote is tilted up and down.
SAFETY STRIP
It is stated that the most guaranteed way to understand that the dollar is real is to check the writing inside the string of the money. Hold the dollar up to the light and look at the security strip; You should check whether USA and the banknote amount are written on this strip. For example, on a $100 bill, the text USA HUNDRED must be seen on both sides of the bill.
THE SMELL IS HEAVY IF NEWLY PRINTED
Although this method is not useful for most, some experts say that fake dollars can be distinguished by their smell. Whether fake or real, the smell of every newly printed money is strong; However, it is emphasized that based on this chemical smell, one can suspect whether the new edition is real or fake.
SECURITY DOES NOT APPRECIATE WHAT IS PRINTED IN ISTANBUL
Authorized Institutions Association President Mustafa Ünver said that although most of the fake dollar banknotes in circulation recently are based in the Middle East, Asia and the Balkans, there are also fake banknotes printed in Istanbul. “However, the ones printed in Istanbul are less in number,” said Ünver, “Because the Police Forces are really good at this. “That’s why reports on this issue are so valuable.”
Source: bigpara.hurriyet.com.tr
