Counterfeit bills make way through Staunton

Counterfeit bills make way through Staunton

STAUNTON (July 5, 2018) – Recently a number of fake currency have been identified at the First National Bank in Staunton. These bills were very obviously counterfeit, with the upper righthand corner having a double black line and Chinese symbols that translate to “Bank Training Money.”

In a June 22 post on their Facebook page, the bank stated, “The bills refused had a lot of wear and tear where the passer had tried to rub off or disguise the Chinese symbols.”

The bank also stated in a comment response, “In the cases that we have seen, the buyer of these bills tries really hard to get rid of the symbols on the bills by rubbing them off. Then they use them to make purchases at stores or local events, where the cashier thinks it’s legitimate money. It’s really unfortunate for business owners, especially small business owners.” Since the Facebook post, the bank has had one more counterfeit bill come through, as well as heard about other bills making the rounds.

These counterfeit bills have been found for sale on the site wish.com, often labeled as movie props. The bills are sold in multiple denominations on the site and in a variety of sets, sometimes for as little as $1 for 100 pieces of this “training money” that have a total face value of $10,000.

Shari Ferry, senior operations officer for the bank, said, “We’re seeing a lot of smaller denominations coming through. When you think of counterfeit bills, you think 100s and 50s, but people are bringing in a 10 or 5, and I don’t want to see anyone ripped off for any amount.”

Ferry also said that multiple people have been notified concerning the counterfeit bills, including local businesses, the Staunton police department, other branches of the bank, employees, and chambers of commerce. Word has also been making its rounds on Facebook, with the main post being shared more than 440 times.

These counterfeit bills, which are meant to be used as training tools for bankers in China, are among those that were recently found to be circulating in the Staunton area.

Popular shopping website wish.com sells many varieties of counterfeit bills, often labeling them as movie props.