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Q: Lost/stolen/counterfeit U.S. Currency ( No Answer,   2 Comments )
Question  
Subject: Lost/stolen/counterfeit U.S. Currency
Category: Business and Money
Asked by: jimbr-ga
List Price: $25.00
Posted: 21 Jun 2002 15:20 PDT
Expires: 28 Jun 2002 15:20 PDT
Question ID: 31362
I am trying to develop an estimate of the total annual losses (yr 2001
and/or yr 2000) in the U.S. due to:
(a) theft of cash
(b) counterfeiting of U.S. currency
(c) lost currency

Need sources of course. 

Do not include counterfeiting outside the U.S. even if it's U.S.
dollars.
Answer  
There is no answer at this time.

Comments  
Subject: Re: Lost/stolen/counterfeit U.S. Currency
From: tlspiegel-ga on 21 Jun 2002 18:20 PDT
 
Hi,

I've been able to find information re: counterfeit currency for you -

"according to the National Research Council, production of counterfeit
currency has doubled every year since 1989. If this trend continues,
more than $2 billion in bogus currency will be in circulation by the
year 2000. Various banking associations also estimate that about 500
million checks are forged annually, contributing to losses totaling
more than $10 billion. Credit card fraud accounted for an additional
$2 billion in lost revenues in 1993, up 16 percent from the previous
year."

http://www.sba.gov/gopher/Business-Development/Success-Series/Vol8/fraud.txt

Google search -  counterfeit U.S. currency 

Regards,
tlspiegel-ga
Subject: Re: Lost/stolen/counterfeit U.S. Currency
From: larre-ga on 22 Jun 2002 00:11 PDT
 
I haven't been able to find complete statistics for you either, but
I'll add a few more to those given by tlspiegel.

According to this very recent news article, published by CBSNews.com:

"In the 2001 fiscal year, $47.5 million in counterfeit bills got into
circulation in the United States, according to the Secret Service,
which was created in 1865 to stem the rampant counterfeiting taking
place at the time. Of that amount, $18.4 million — or 39 percent —
were phony computer-generated notes."

This excerpt is attributed to U.S. Treasury Department Secret Service
spokesman Jim Mackin, speaking to Associated Press. The full article
is available:

CBS News 
Are You Ready for Beige Greenbacks, June 17, 2002
http://www.cbsnews.com/stories/2002/06/17/national/main512481.shtml

Cash crime statistics are difficult to come by. National statistical
gathering and public reporting tends to be by value, rather than by a
breakdown of the various components of that value. The closest
estimates I've been able to locate are the FBI's year 2000 stats for
the crime of Robbery, which is defined as: "the taking or attempting
to take anything of value from the care, custody, or control of a
person or persons by force or threat of force or violence and/or by
putting the victim in fear."

"During 2000, robbers stole more than $477 million from their victims.
The average dollar loss, $1,170, was an increase from the $1,077
average calculated for 1999. Monetary losses ranged from an average of
$544 taken during robberies of convenience stores to $4,437, the
average amount stolen during bank robberies.

By location, these robberies took place (percentages):

Street/highway 46.0 
Commercial house 13.9 
Gas or service station 2.9 
Convenience store 6.4 
Residence 12.2 
Bank 2.1
Miscellaneous 16.5

These statistics are documented at:

Crime in the United States (Adobe PDF format)
http://www.fbi.gov/ucr/cius_00/00crime2_5.pdf

These figures do not separately report cash vs. other valuables. Cash
is also taken in burglaries.

Lost currency is reported to such a variety of sources (lost and found
departments, insurance companies, law enforcement agencies), that I
doubt compiled or summarized statistics are available.

Search terms:
news counterfeit currency
crime statistics cash

~larre-ga

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