Counterfeiting spikes as economy struggles

WASHINGTON, Dec. 29 (UPI) -- U.S. counterfeiting arrests have spiked to a five-year high as the struggling economy entices some Average Joes to pass fake money, authorities say.

Rather than professional criminals, many recent counterfeiting arrests have been of "regular people" photocopying currency on home computer printers to pay for everyday expenses that are becoming harder to afford, USA Today reported Monday.

Counterfeiting arrests have jumped 28 percent this year over 2007, making for the highest number since 2004, the Secret Service has indicated. Counterfeiters passed $64.4 million in phony bills into the economy, representing a 5 percent increase over last year and also a five-year high, figures show.

"It's not just the criminal element, but we're also seeing more students that maybe use a counterfeit $20 bill to buy pizza or someone trying to do it to purchase gas to get to work," Brian Marr, Secret Service special agent in charge of the Little Rock, Ark., field office, told USA Today.

Reports of fake bills escalated this year when gas prices hit record highs, Marr said.