CBP officers seized a combined $14,368,160 in various denominations of counterfeit U.S. currency.

The two most recent seizures occurred on May 26, when CBP officers seized two shipments that each contained $1,804,800 of counterfeit currency. Previously, CBP officers seized $7,795,680 of counterfeit currency on May 5 and $2,962,880 of counterfeit currency on May 2.

The currency too closely resembled legal U.S. currency. With the increased use of online marketplaces creating more in-person transactions, unscrupulous people could potentially victimize inexperienced sellers or small businesses by using the counterfeit currency during fraudulent purchases or in other financial fraud crimes.

CBP officers turned the currency over to Homeland Security Investigations (HSI) and U.S. Secret Service special agents in Philadelphia who coordinated an investigation with HSI agents and U.S. Secret Service agents in Chicago.

According to the U.S. Secret Service, counterfeiting currency is a lucrative business and is often used to finance illegal activities, including financial fraud, narcotics smuggling, terrorism, and attacks against our nation’s financial systems.

Consumers and businesses can protect themselves from inadvertently receiving counterfeit currency by learning to quickly identify authentic Federal Reserve notes.

“Law enforcement knows that counterfeit and fictitious bank notes have been used in financial crimes, especially ones that target our nation’s more vulnerable seniors and small business owners,” said Rene Ortega, CBP’s Acting Area Port Director in Philadelphia. “Customs and Border Protection is committed to working with our law enforcement partners to combat illicit efforts that target our citizens, our businesses, and the security of the United States economic system.”

Original source can be found here