Over $14M in counterfeit money seized in Philadelphia
PHILADELPHIA (CBS) -- Millions of dollars worth of counterfeit money was seized in Philadelphia.
U.S. Customs and Border Protection officers intercepted four huge shipments in May, totaling $14.3 million.
Officers say the fake money is often used during in-person transactions to rip off inexperienced sellers and small businesses.
The counterfeit money has been turned over to special agents with the U.S. Secret Service.
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.
