Law Articles And Legal Issues

What Are The Different Legal Punishments Given For Producing Counterfeit Money By Different Countries?

Different countries have different legal punishments for those producing counterfeit money and the punishments are quite tough. The reason why the punishments are harsh is because counterfeit money reduces the value of actual money and causes inflation due to the increase of money being circulated throughout the economy. What this is is an artificial increase in the amount of money in the money supply that is not authorized. This severely devalues the currency and results in losses that can amount to millions of dollars each year.

The impact is so severe that, unfortunately, the companies that receive counterfeit money are not reimbursed for the fake bills, which force them to raise their prices on their products. Even in countries where their paper money makes up just a fraction of their total circulation of money, the effects of the counterfeiting may be minimal. However, the confidence in their currency may decrease significantly.

Beginning in 1996, the United States began making changes in the design of the $100 bill to keep it from being counterfeited. Other bills followed suit for 10 years after the initial change. The changes occurred as follows:

? 1997 the $50 bill
? 1998 the $20 bill
? 2000 the $10 and the $5 bill
? 2003 the $20 bill

However in 2004, the $50 bill had to be redesigned again as did the $10 bill in 2006. Fortunately, the $1 and $2 bills are seen to be not worth it for counterfeiters due to their low value although it is not out of the question for one of these bills to be reproduced.

Penalties by country

Every country has its own set of penalties for counterfeiters. Some just have to pay fines, some just serve time in jail, and then there are those who must serve time in jail in addition to paying fines for their crime. In the United States, counterfeiting is a federal felony that involves the Secret Service. When found guilty of this crime, the penalty is 15 years in prison as well as seizure of the property that was used in the creation of the counterfeit bills. Restitution will most likely have to be paid on top of a number of fines.

Another country that imposes a 15 year sentence is South Africa. They too have absolutely no tolerance for counterfeiters and will place them in prison in a heartbeat because of the adverse effects counterfeiting has on the economy.

As for Europe's punishment for counterfeiting the Euro, offenders risk four years in jail and fines that could equal up to $120,000. If the crime is an organized crime, then the fines can be up to $360,000. This penalty seems considerably less than that of the United States and South Africa, but the fines may be considered punishment enough although the fines in the United States are determined based on severity of the crime.

In Canada, if someone is simply found holding a counterfeit bill, the penalty is up to 14 years in prison. Australia has a penalty of $5,000 for individuals, $10,000 for corporations and up to 2 years in prison in addition to the fines.

Counterfeiting bills poses a problem all over the world and it is worse in some places than others. It should be known that the bills can be traced to their maker and, once caught, those who produced the bills face severe punishment. It is common for the offenders to think they will never be punished for their crime, but there are ways in which they can and will be tracked down and made to pay for these crimes they commit against the economies of the world.

When traveling is highly recommended to carry counterfeit money detectors such as counterfeit money pens with you all the time to guard against the growing problems of currency counterfeiting.

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

Other Law Sites
Search The Internet For Other Law Sites

Law Books
Search For Law Books At FindaBook.com

Bextra Recall: Lawyer Says Help Is On The Way
By now, you have probably heard of the prescription drug Bextra. You may not know, however, why that a recall is in order.

Online Mortgage Directory Partners with Large Tax Debt Relief firm
LendingGateway.com becomes marketing partner for tax firm JK Harris.

Find Out the Various Flavors of the Law of Attraction
Let me start this paragraph off by saying that you are a magnet A Magnet that eminates positive or negative energy throughout the universe

Denver Firm Revolutionizes Electronic Briefing for Legal Community
Attorneys and judges across the nation received a potential boost in productivity today when Denver-based eTrial Communications Inc. announced the release of its Brief-Lynx™ software. The desktop-based software package will allow attorneys to provide better electronic briefs more cost-effectively; and judges and arbiters will discover that the eTrial product has made e-briefs easier to assess.

Law Enforcement Asks For Help from Cell Phone Retailers
The National Association of Triads, Inc. (NATI), an affiliate organization of the National Sheriffs' Association (NSA), is seeking cell phone stores across the country to help in its cell phone recycling collection program.

New Jersey Medical Malpractice Attorneys Scott Parsons, Bill Lane Join Lawyer Central Network (LawyerCentral.com)
LawyerCentral.com is pleased to announce the addition of two esteemed medical malpractice attorneys, Scott Parsons and Bill Lane, to their exclusive legal network. Mr. Parsons and Mr. Lane have accepted membership in the Lawyer Central New Jersey Network, providing assistance and information to those in need of medical malpractice.

History-Making Home Lemon Law Amendment Debated in Texas House
In an unprecedented, history-making event State Representative Senfronia Thompson, D-Houston, introduced a Home Lemon Law Amendment sparking a spirited debate on the Texas House floor. The amendment was tabled by a vote of 83 to 60. However, 60 lawmakers, including 10 Republicans, voted in support of a Home Lemon Law, the first ever to be considered or debated by any State Legislature in the nation.

Becoming an Expat : Tax Information
First of all, tax information about moving overseas is important because of the fact that it allows people to budget their finances. When a person moves overseas, the experience would be like beginning a new life. This means every detail, especially finances, needs to be taken into account.

Innovative Tax Relief- Roadmap For Tax Savings
If you are searching for information about innovative tax relief, you will find the below related article very helpful. It provides a refreshing perspective that is much related to innovative tax relief and in some manner related to property tax relief funds, careers Tennessee travel guide, business income or small business tax relief act of 2008. It isn't the same old kind of information that you will find elsewhere on the Internet relating to innovative tax relief.

Child Tax Credit - Are You Eligible and How Much Can You Claim
Are You Eligible For The Child Tax Credit?

Imperial Finance & Trading, LLC Hires Former Deputy Attorney General to its Staff
Imperial Finance & Trading, LLC, a leader in premium finance for life insurance, is pleased to announce the addition of Mitchell A. Cohen, Esquire as senior attorney.

Saddam Lawyer Giovanni Di Stefano in Challenge to British Home Secretary
Saddam lawyer Giovanni Di Stefano challenges the British Home Secretary's right to introduce new legislation to Parliament to confiscate the assets of those charged with crimes before conviction. Di Stefano states such is contrary to the English Bill of Rights 1689 and warns the Home Secretary that she may be breaking the law.

The Law Of Distraction
According to the ?mobileheraldcom?, as of 2006 the statistical breakdown worldwide, of the percentage of households, by country, that own mobile phones are: Japan at 95%, South Korea at 94%, China at 93%, France at 85%, Germany at 83%, and the UK at 79%

Detroit Attorney Speaks on 'Libel, Slander and the First Amendment'
How free is speech after the Imus controversy?

Webroot Urges Internet Users to Protect Sensitive Information During Tax Season: Webroot Witnessed a 265 Percent Increase in System Monitors During
Webroot Software, Inc., a leading provider of Internet security software for the consumer, enterprise and SME markets, today urged Internet users to pay special attention to the security of their personal information and use a proven Internet security program when preparing and filing their taxes online. According to the IRS, 73 million tax returns were filed online in 2006, up 6.9 percent from the year before, with 20 million people filing returns from their home computers. While Internet filing offers users a new level of convenience, speed and accuracy during tax season, it can also expose users' personal information to cyber criminals.