Making Money
Posted on April 4, 2008
Thanks or no thanks to today’s advanced photo copiers, scanners and printers, making counterfeit money is becoming easier. The new face of counterfeiting features younger offenders that are more comfortable with technology and most of the times have no prior criminal record. It used to be an expensive and laborious process to reproduce a high-quality U.S. green buck or any other paper currency. It was also very difficult to launder large qualities of cash needed to repay the investment. The easy availability of technology today has tempted some into committing a serious felony they wouldn’t even dream of doing.
Counterfeiters and the law have been battling it out since the time money was invented. Thieves have always found a way to make their own cash while authorities try to stop them. The war between these two has grown more sophisticated over time as new advances in technology open up new opportunities for illegitimate production of money.
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The Replacement
Posted on April 3, 2008
Digital cash has brought clear advantages over traditional money which makes many wonder if it is about to replace real money soon. Electronic money is precise, simple and convenient for its users. Banks foresee the elimination of thousands of paper transactions and the corresponding reduction in user fees. Many corporations are eyeing the possibility of entirely circumventing banks by creating direct company to company transfers.
A lot of companies are rushing to develop new technologies that will create secure and efficient transactions over the Internet in an effort to bring more consumers into it. This is because digital cash, in spite of its convenience, brings with it its own set of complex problems. The anonymity afforded by the use of digital money has presented an opportunity for tax evaders and money launderers. Hackers could also break into digital cash systems and download the wealth of thousands of unsuspecting customers. The use of digital cash will still rapidly increase but may not be ready to totally replace real cash soon enough.
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