Skip to content

Retaining a Counterfeit Bill

Answered by: 

Question: 
Recently we were challenged by a customer when we retained a suspect counterfeit bill. He wanted us to show him in writing the regulation or law that said we were to retain the bill. All we could show him was the page from the secret service web site that stated we were not to return the bill to the passer. I called the Secret Service, and they could not supply the specific regulation or law. Do you know if one even exists, and, if so, where it would be?
Answer: 

I believe that if you returned it, YOU would be passing a counterfeit bill, and therefore violating the law. In this instance passing the bill would not require "consideration", just passing the bogus bill.

Edit 02-21-04: Bol'er P. Grammer also pointed out 31 CFR Section 100.19 "All counterfeit notes and coin found in remittances are cancelled and delivered to the U.S. Secret Service of the Department of the Treasury or to the nearest local office of that Service, a receipt for the same being forwarded to the sender. Communications with respect thereto should be addressed to the Director, U.S. Secret Service, Department of the Treasury, Washington, DC 20223."

First published on BankersOnline.com 2/16/04

First published on 02/16/2004

Filed under: 
Filed under security as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics