Counterfeiting has always been a serious concern for Canada, the United States, and beyond. Though counterfeit bills and coins have always been an issue (seemingly as old as money itself, counterfeiting is informally labelled by some as the “world’s second oldest profession”), it spiked dramatically in the 19th century when banks were able to print their own currency notes. Today, the threat of counterfeiting is as prominent as ever. Just a few days ago, an American man was sentenced to eight years in prison for a counterfeiting scheme based in, of all places, Uganda! Counterfeiting, sadly, isn’t going away anytime soon.
Fortunately, neither are anti-counterfeiting measures. From Canada’s Treasury Board to America’s Secret Service and FBI, governments and financial institutions are hard at work routing out fake coins and notes. One tool at their disposal are currency counter machines. These machines (and their supplementary cash management software) can automatically identify and sort coins and bills instantaneously. These machines use sophisticated cash management software as well as high speed scanners to route out fake notes quickly, efficiently, and without fuss.
The efficiency component of these machines is critical. Before these electronic money counter machines were invented in 1980, people were responsible for counting money by hand. The process was long, frustrating, and tedious, and many institutions went as far as to count the set amount of money two or three times to check for human error. That is a thing of the past, however, with these machines. What used to take banks days now takes them minutes.
Currency counter machines truly are miracle workers as far as the financial industry is concerned. Without them, counting money and identifying counterfeit currency would take an exceptionally long time. Counterfeiting may never go away but then again, neither will these machines. For more information, feel free to leave a comment or question at the bottom.
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