18 U.S.C. § 471 - Federal Crime of Counterfeiting Currency
The federal government is committed to stopping currency counterfeiting, with the Secret Service confiscating millions of dollars in counterfeit currency each year.
Congress's anti-counterfeiting laws specify that anyone who, with intent to defraud, falsely makes, forges, counterfeits, or alters any obligation or security of the United States can face up to 20 years in prison.
Several federal laws address the creation, distribution, and use of counterfeit currency, such as 18 U.S.C. § 471.
For money to be classified as counterfeit, it must closely resemble an authentic bill to fool an average person.
The law also forbids possessing tools used in counterfeiting and makes it illegal to buy, sell, exchange, transfer, receive, or deliver counterfeit securities.
Federal statutes extend to counterfeiting activities outside the United States. Possessing tools for counterfeiting U.S. securities abroad is illegal, as are foreign transactions involving counterfeit securities.
Additionally, federal law prohibits counterfeiting obligations and securities issued by foreign banks if such activities occur in the United States.
Key Elements of Fraud and Deceit
Counterfeiting usually entails fraud or deceit, and a conviction can lead to serious penalties such as hefty fines and federal prison sentences according to the United States Federal Sentencing Guidelines.
If you are under federal investigation for counterfeiting currency, it is crucial to consult an experienced federal criminal defense lawyer, as this helps readers understand the value of expert guidance as soon as possible. You need an attorney experienced in litigating criminal cases in federal court.
To help readers better understand counterfeiting laws, our defense lawyers have provided a detailed review below.
Federal Laws on Counterfeit U.S. Currency
18 U.S.C. § 471 establishes that it is a federal offense to knowingly produce, modify, or counterfeit any security or obligation owned by the United States. This includes currency, treasury notes, reserve notes, and bonds.
Several statutes address the creation, distribution, or use of counterfeit currency, making these actions illegal:
- Engage in holding, passing, publishing, selling, or attempting to do any of these with counterfeit currency with the aim to deceive.
- Make, forge, or pass counterfeit foreign currency with the goal of defrauding others.
- Buy, transfer, receive, or deliver counterfeit currency with the intent to pass it off as genuine.
- Possess imprints, digital images, or impressions used to make counterfeit money or to sell these items with the intent to deceive.
To secure a conviction for counterfeiting U.S. currency, a federal prosecutor must prove beyond a reasonable doubt that you had possession with the specific intent to defraud.
Possessing equipment or tools used for counterfeiting, like images or plates, with the intent to use them, is a federal offense.
Such possession could lead to a conviction for a Class B felony. Additionally, counterfeiting coins is a federal crime that can result in up to 15 years of imprisonment if found guilty.
Possible Penalties If Convicted
Counterfeiting foreign currency is a federal offense. A conviction for counterfeiting foreign currency carries the same penalties as counterfeiting U.S. currency.
If found guilty of possessing tools and equipment meant for counterfeiting foreign currency, you could face fines up to $250,000 and imprisonment for up to 25 years.
If convicted of using, producing, or selling counterfeit currency, the consequences can be serious. A federal judge might sentence you to as much as 20 years in prison and impose a fine of up to $250,000.
What are the Related Federal Statutes?
- 18 U.S.C. § 470 - Counterfeit acts outside the United States
- 18 U.S.C. § 472 - Uttering counterfeit obligations or securities
- 18 U.S.C. § 473 - Dealing in counterfeit obligations or securities
- 18 U.S.C. § 474 - Plates, digital, or electronic images for counterfeiting obligations
- 18 U.S.C. § 476 - Taking impressions of tools used for obligations or securities
- 18 U.S.C. § 477 - Possession or selling impressions of tools used for securities
- 18 U.S.C. § 478 - Foreign obligations or securities
- 18 U.S.C. § 482 - Foreign bank notes
- 18 U.S.C. § 486 - Uttering coins of gold or other metal
- 18 U.S.C. § 487 - Making or possessing counterfeit dies for coins
Defending Against Counterfeit Currency Charges
If you are charged with a federal crime involving counterfeit currency, our federal criminal defense attorneys can employ various strategies to contest the charges. A common defense is to argue that there was no intent.
As mentioned, the federal prosecutor must demonstrate not only that you possessed counterfeiting materials or took part in counterfeit money transactions.
Another possible defense is to argue that the quality of the counterfeit currency was so low that it does not meet the legal definition of being counterfeit. As mentioned earlier, for money to be classified as counterfeit, it must be so similar to genuine money that it could deceive an average person.
Crude copies of money that lack the primary identifying characteristics of real currency may simply not qualify as counterfeit in the context of a federal criminal prosecution.
If you're facing federal currency counterfeiting charges, it's crucial to consult a lawyer immediately. Early involvement by our experienced federal criminal attorneys can significantly influence the outcome of the case.
We have extensive experience defending clients in federal court. If convicted of 18 U.S.C. § 471 or similar federal laws, you may face severe penalties. Contact our defense attorneys at Eisner Gorion LLP for more information.
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