Counterfeiting on rise in United States

WASHINGTON, Feb. 27 (UPI) -- The U.S. Secret Service says counterfeit currency worth $62 million entered circulation in 2006, representing a 10-percent jump over 2005, USA Today reports.

The documents obtained by the newspaper said the increase represents a 69-percent increase in bogus bills since 2003, many of which are produced with inexpensive home computers and printers.

Of all counterfeit currency caught in 2006, 54 percent of it was created using home digital technology, compared with 1996, when 1 percent was done digitally, the report said.

The $20 bill remains the most frequently counterfeited bill, and in 2003, the bill became the first to feature a color other than green. Other features such as a watermark and color-shifting ink have since been added and new $10 bills and $50 bills have been issued to thwart counterfeiters.

Secret Service spokesman Eric Zahren said the amount of fake money in circulation is just a fraction of 1 percent of genuine currency, the report said.