Wave of Counterfeit Money Pours Over Boston, FBI Says

A rash of counterfeit bills has surfaced in the Greater Boston area, according to Thomas C. Smith of the Boston Secret Service office, which handles all matters relating to counterfeit currency.

"Compared to the downtown Boston area, Cambridge has been hit relatively lightly," Smith said last week, but he said bills have hit throughout the metropolitan area--especially department stores--in the last six months. In a check of eight Harvard Square establishments last week, two banks and one business reported contact with the bogus currency.

A security official at the Harvard Trust Company said tellers there have received counterfeit bills of various denominations in the past few weeks. He also said two local restaurateurs gave the company similar descriptions of a man passing counterfeit fifties, leading to the apprehension of a suspect. A Cambridge Trust Company security official said his company has not seen any counterfeit bills since several depositors unwittingly brought in counterfeit tens about a month ago.

Of the other area businesses checked, only the Harvard House of Pizza reported receiving counterfeit bills lately. Robert Burns of the Coop security office said the Coop has had no recent problems with counterfeit money.

Little Publicity

"We usually don't like to give cases a lot of publicity," Smith said. "If we can get people to cooperate, we can get to the main source." The secret Service often relies upon a combination of informants and undercover agents to break their cases, he continued. Only in the case of large seizures of counterfeit currency does the Service notify the press.

Under federal law, counterfeiting carries a maximum penalty of 15 years and a $5000 fine for every bill, although judges rarely impose the maximum sentence.

Banks train their personnel to identify counterfeit currency according to paper texture, portrait quality and other major characteristics. According to federal law, they must confiscate counterfeit bills and stamp them as such immediately. The bank then sends the bill along with two description forms to the Secret Service.