Reference no: EM133087841

Question - Most people are familiar with the United States Secret Service as the group that guards the President. Its officers are frequently seen on television surrounding and protecting the President. What most people do not realize is that the Secret Service, established in 1865, was created to help the U.S. government combat the widespread counterfeiting of U.S. currency at the time. Counterfeiting, one of the oldest crimes in history, had become a national problem. It is estimated that approximately one-third to one-half of the nation's currency in circulation at that time was counterfeit. Counterfeiting still exists, and it's still the job of the Secret Service to stop it. Modern printing and scanning equipment makes counterfeiting easier, and the government has instituted changes in currency to make it harder to counterfeit. Although most citizens have no intentions of counterfeiting U.S. currency, Americans have a responsibility to learn about counterfeiting because they may receive a counterfeit bill one day. If a counterfeit bill is received, try to recall where it was acquired. Contact the nearest Secret Service office. The bill will be taken and no compensation will be returned to you. If a counterfeit bill is deposited in a bank account, you will lose the bill and the credit for the value of the deposit. The penalty for trying to pass a counterfeit bill is a fine or imprisonment.

Describe ways to identify a counterfeit bill. Why is counterfeiting harmful to the government and public?