Letter to Michael Beckerman, President of the National Internet Association - Schumer: counterfeit "movie money' used in films but looking very real is flooding stores this holiday season, tricking retailers & costing consumers who get it as change; senator urges Internet Association to partner with Secret Service to curb counterfeit cash & catch culprit(s)

Letter

Dear Mr. Beckerman:

I write today on the heels of a new U.S. Secret Service warning to consumers and retailers concerning counterfeit money and a new awareness campaign dubbed "Operation Second Glance." The new warning and the just-announced campaign were publicized as part of a surge in counterfeit cash flooding U.S. retailers, tricking businesses and unsuspecting consumers.

There are two main reasons for the recent counterfeit cash surge. The first concerns "motion picture money," fake currency that looks real from a distance which is typically used by Hollywood studios. According to the Secret Service, millions of dollars of "movie money' is now showing up at cash registers across the country. Last year the Secret Service reported a 25% increase in the passing of motion picture notes. Secondly, money labeled with foreign language characters is also on the rise and available online.

Online retailers--some of your members--play a role in innocently transacting the sale of this movie money. In fact, a cursory internet search for the item shows how easy it is to buy prop money on the internet, as some online retailers are stocking the product for use as gag gifts, bank teller training and other benign scenarios.

However, the surge in illicit use of movie money and its easy online access demands your Association partner with the U.S. Secret Service on a plan to curb the latest trends in counterfeit cash purchases online. Unknowingly, some of your members are making it easy to buy counterfeit currency. Without proper safeguards, such access to this currency could foster a rich medium for unscrupulous actors to dupe both retailers and consumers once the cash is shipped and introduced into the marketplace. A strong partnership between your Association and the Secret Service might lead to better vetting controls, a more secure supply chain, or the identification of a potentially nefarious repeat purchaser.

The U.S. Secret Service can only do so much to warn consumers, but your Association has the ability to help enact new controls and best practices for the sale of this product. I encourage you to work hand-in-glove with the federal government to protect America's brick and mortar businesses--small and large--as well as the consumers who might be left pocketing the worthless paper.

Please do not hesitate to contact me should you have any questions about the rise in faux money available online now being used as counterfeit cash in stores. I thank you for your anticipated cooperation.

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