Money poke

In the United States, money orders are typically sold by third parties such as the United States Postal Service, grocery stores, and convenience stores. Some financial service companies such as banks and credit unions may not charge for money orders to their clients. Money orders remain a trusted financial instrument. In 2005, 889 million money orders were purchased in the United States for a gross transaction volume of $145 billion. (source: Federal Reserve). However, just because a particular business can issue a money order does not necessarily mean that they will cash them. Postal Money Orders (PMOs) are generally regarded as one of the most difficult financial documents to counterfeit. Watermarks. Telltale watermark when held up to the light should reveal images of Benjamin Franklin, repeated on the left side (top to bottom). Dark security strip running alongside the watermark (top to bottom), just to the right. If held to the light, a microfiber strip will show tiny letters "USPS" along its length, facing backward and forward. Rainbow of inked patterns and tones. PMOs are printed on crisp, clean, textured paper stock. Maximum value of $1000 for domestic (US) postal money orders, and $700 for International Postal Money Orders. Denominations appear in two locations. If the denomination amounts are discolored, that indicates that they have been erased. Ultraviolet features include the above mentioned micro-fiber strip that glows red, and the PMO number on the reverse side and the bottom which will also appear red under UV light. [edit] Counterfeiting Due to the increased public awareness of fraudulent US Postal Money Orders, counterfeiters are using these US Postal and other companies' (see above) money orders to dupe their victims. By obtaining their "mark's" postal zip code, they will draft bogus money orders based on whichever franchises will most likely be in their victim's home area as the familiarity of the store's name offers a sense of security. Furthermore, money orders are subject to erasing the name and writing in somebody else's name. Money order fraud is specifically not reimbursed by Western Union and the victim is required to go through local police to attempt to recover lost funds. In response, the perpetrator who cashed the money order can simply claim "identity theft" to the investigating detective. Money orders for this purpose can be obtained from places like rent drop boxes.

Author: Mohammad

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