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Colombia and North Korea cited in U.S. government counterfeiting report
International Herald Tribune ^ | October 26, 2006 | ap

Posted on 10/26/2006 4:42:57 PM PDT by Jet Jaguar

WASHINGTON A new U.S. government report singles out Colombia and North Korea as counterfeiting threats but finds that overall counterfeiting remains low. Of the $760 billion (€600.6 billion) in U.S currency in use around the world in 2005, about $61 million (€48.2 million) in fake notes were in circulation, according to the joint report by the Treasury Department, the Federal Reserve Board and the Secret Service. That is about $1 (€0.79) for every $12,400 (€9,800) in use. Colombia was described as the chief supplier of counterfeit notes to the U.S. market, responsible last year for about 15 percent of all circulating counterfeit currency. North Korea's production of high quality fake U.S. $100 (€79) bills, so-called "supernotes," also is a focus of the report. The counterfeit bills are "produced and distributed with the full consent and control of the North Korean government," the report said The Secret Service, the main investigating agency against counterfeiting, puts the amount of supernotes seized during the last 16 years at about $50 million (€39.5 million) worth. A change in U.S. currency designs starting in 1996 and other efforts have made counterfeit detection easier, the report said. A bright spot, the report said, came in Bulgaria, which has seen drops in production and transport of counterfeited U.S. currency, in part because the Secret Service has opened an office in the country.

(Excerpt) Read more at iht.com ...


TOPICS: Crime/Corruption; Extended News; Foreign Affairs
KEYWORDS: columbia; counterfeiting; korea; nkorea

1 posted on 10/26/2006 4:42:59 PM PDT by Jet Jaguar
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To: Jet Jaguar

Can we bomb them yet?


2 posted on 10/26/2006 4:50:59 PM PDT by MNJohnnie (EeevilCon, Snowflake, Conservative Fundamentalist Gun Owning Bush Bot Dittohead reporting for duty!)
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To: MNJohnnie

A long, long time ago, in an America far, far away, this behavior would have been considered an act of war. Not so, in today's America where we have to be "sensitive" to our enemies' motives. When you are the world's Satan, you are forced into an awful lot of being sensitive; we wouldn't want to become a bully in the sight of the prissy, easily-offended types.


3 posted on 10/26/2006 6:06:13 PM PDT by thelastvirgil (Lest ye put all your faith in the government to provide for you, check their track record.)
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To: Jet Jaguar

The difference between Colombia and N Korea is one is state sponsored and the other is Terrorist sponsored.


4 posted on 10/26/2006 6:07:46 PM PDT by Recon Dad (Marine Spec Ops Dad)
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