Counterfeit bills circulating in Colorado Springs

Posted: Dec 28, 2012 10:42 AM by Siera Santos, ssantos@koaa.com
Updated: Dec 28, 2012 10:50 AM

The $100 bill is the most counterfeited currency and the bad bills are tough to spot, especially when they pass a pen test.

One Colorado Springs business got stuck with a counterfeit. The bill they received was a washed $1 bill that had been printed over. The Lutacks own an insurance company, Win Insurance Agency, and they want other small business owners to know there's "funny money" in circulation.

"Just be diligent and check because I'm sure that's not the only one out there. If they made one, they made a lot more," Kristie Lutack said.

Since they receive cash payments daily, Kristie didn't think twice when a long-time customer came in with a cash payment.

"I trust them, but I have to consider they get money from other sources they may not know."

Since the bill looked real, the Lutacks didn't know it was fake until they dropped the deposit off at the bank.

When you're accepting cash payments, here's what to look out for:

On a real bill, the ink is raised in some places. You can feel the raised ink.
A watermark will be visible with the president's portrait when held up to the light.
The bill should be crisp, not soft. A soft bill can indiccate it has been washed as in the case of the Lutacks'.